Wealth Management
Deciding to switch broker-dealers can be transformative yet challenging for financial advisors. But Advisors should thoroughly consider how their new environment will affect them.
Evaluate the support, technology, and practice management tools the new firm offers to boost your business. Ensure the firm's values and advisor focus align with your working style.
Confirm that the firm supports your specific business needs and niche. Research the firm's reputation and past issues to ensure it aligns with your professional image.
Lastly, trust your instincts and seek expert advice if needed to make an informed decision.
Finsum: Sometimes we get too caught up in the minutia when considering a switch but these high-level questions are important.
For golfers seeking an international adventure, several destinations that aren’t the typical Scottland or Ireland recommendations offer outstanding experiences.
Los Cabos and the Baja Peninsula are top-tier golf locations with courses designed by famous architects and breathtaking landscapes. Loreto in Mexico allows golfing in a UNESCO site, while the Pacific Coastline and Riviera Maya feature exceptional courses like El Camaleón.
Vietnam is rapidly emerging as a premier golf destination with diverse terrains and numerous new courses. Mauritius provides a unique blend of historical significance and stunning ocean-view courses like Iles aux Cerfs Golf Club. Each location promises a memorable golfing experience.
Finsum: The additional benefit of traffic and weather could make these great for later destinations in the season.
Leading the industry, WisdomTree, Inc. launched its Portfolio Solutions program to better support RIAs and wealth management firms. This program aims to help advisory firms customize client portfolios and embrace model portfolios, offering significant time efficiencies.
The platform offers a range of services, including examining current model portfolios, stress-testing assets, and providing CIO-managed model portfolios. Additionally, advisors can collaborate with WisdomTree’s team for trading, rebalancing, and tax optimization tasks.
The program helps advisors allocate more time to client-facing activities and improve their overall service. WisdomTree has also expanded its Portfolio Solutions team with the strategic hire of Samuel Rines, a Macro Strategist, to provide geopolitically risk-aware portfolios.
Finsum: These technologies allow advisors to deepen their relationships with clients by freeing up time and understanding interests.
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As market volatility persists, major equity indexes hit new highs, prompting investors to shift from AI and technology stocks to small-caps. The Dow Jones rose 700 points on July 16, achieving a record high, while the S&P 500 followed suit, driven by interest rate cut hopes.
Natixis Investment Managers advises using selective, active strategies and high-conviction portfolio construction to navigate market peaks. They recommend not waiting for stock declines, as equity markets historically increase 70% of the time.
For an offensive strategy, focus on growth-oriented, small, and midcap stocks. Active management and model portfolios can help manage risks and optimize tax implications.
Finsum: Prepping your portfolio for the fall election is more crucial than ever.
As more Americans retire without pensions, individual annuities are becoming crucial for financial security. Registered index-linked annuities (RILAs) have gained popularity, especially during the pandemic due to their downside protection and upside potential.
In 2023, RILA sales reached $47 billion, a 15% increase from 2022, marking nine consecutive years of growth. This trend is expected to continue, with forecasts predicting sales of $52 billion in 2024 and $57 billion in 2025.
RILAs, primarily sold through independent broker-dealers, are now outpacing traditional variable annuities in sales. The market, driven by innovation and new entrants, is poised for sustained growth.
Finsum: Independent broker dealers leading the pack is interesting and something to monitor during the annuity boom.
BlackRock has introduced a 'buffer' ETF, the iShares Large Cap Max Buffer Jun ETF (ticker: MAXJ), designed to offer a 100% downside hedge for cautious investors. This ETF tracks the S&P 500 using options with an upside cap, aiming to protect against losses for about a year.
Buffer ETFs are beneficial as they help maximize returns while providing downside protection during volatile market periods.
They are especially attractive to investors wary of market volatility and economic uncertainties, such as inflation and potential interest rate hikes. BlackRock's extensive reach and marketing capabilities could help it catch up with competitors in this space.
Finsum: BlackRock’s pioneering in quantitative strategies puts them in a good position to maximize the abilities of buffer ETFs