Bank Investment Consultant articles from May 2008

Bank Investment Consultant archives from May 2008

Mass Appeal.
May 1, 2008... Ah, the mass affluent! Always the bridesmaid, never the bride, perennial C clients as they accumulate retirement assets when every advisor is hunting for more profitable A and B clients. This is a major conundrum for program managers and...

Treasury Blueprint Could Shake Up Banks.
May 1, 2008... The U.S. Treasury Department has proposed reforms to banking rules that would create a slew of tougher regulations and impose taxes on credit unions and increase competition for all banks by opening up charters to mass retailers such as...

HNW Predicts Choppy Market.
May 1, 2008... High-net-worth investors are eschewing equities in favor of alternative investments, according to Tiger 21's latest asset allocation index. Tiger 21 is sort of an investment club for the super rich. It is an association of 160 investors,...

Retirement Assets Double in 10 Years.
May 1, 2008... Despite difficult market conditions, assets that are held in U.S. retirement plans have nearly doubled in value since 1997, according to a study conducted by Watson Wyatt Worldwide. The Washington firm said in a study that was released...

Banks Post Record Sales.(Financial report)
May 1, 2008... Bank holding companies earned record income of $22.8 billion last year in commissions and fees from the sale of mutual funds and annuities, according to the Michael White-Symetra Bank Holding Company Fee Report released March 31. Banks'...

Poll Sees Later Retirements.
May 1, 2008... Unexpected healthcare costs and inflation are top concerns for retirement, according to a survey of workers age 55 to 74. To combat these concerns, reports an April 2 report by MFS Investment Management, pre-retirees expect to work on...

Investors Split on Lifestyle Funds.
May 1, 2008... Retirement plan participants are torn when it comes to asset-allocation funds, according to a Spectrum Group survey of target-date and lifestyle mutual funds, released on April 3. According to the Chicago firm, 39% of participants in the study...

Don't Neglect The Little Guy: Bank advisors, like everyone else, have been competing for high-net-worth clients, while neglecting the huge mass-affluent audience that wants to do business.(Company overview)
May 1, 2008... Under a huge red banner reading"Ask about a no-fee IRA," 10-foot-high photos of happy, smiling "regular" folks, exclaim in speech bubbles: "I have a plan that meets my retirement needs," and "I know what I want my retirement to be. I have a...

An Advisor Turns Trader: While everyone else is outsourcing investments, Citibank Smith Barney advisor Charles Bracken wants to be a portfolio manager.
May 1, 2008... Bank brokerage, like all wealth management, increasingly uses packaged investment products such as mutual funds, variable annuities and separately managed accounts. Independent and wirehouse advisors also tend to outsource portfolio management...

Building Rapid Rapport: Uncovering the hidden path to developing deep trust and confidence with prospects and clients.
May 1, 2008... In his latest book Blink, Malcolm Gladwell discusses how experts can assess in seconds when something is or isn't right. For example, years of experience and study create a set of mental processes that happen so quickly at an unconscious level,...

The Case for LTC Insurance: How to convince clients-and yourself-that long-term-care coverage is a smart purchase.
May 1, 2008... Long-term-care insurance remains a tough sell for bank advisors. A combination of complexity and cost have been keeping the product on the shelf. But while these policies are far from perfect, they are really the only vehicle right now to...

Reviewing The Basics.
May 1, 2008... The complexity of long-term-care insurance puts off advisors as well as clients. Here are the basics of how it works. Long-term care consists of all the supportive services that people may need if they become disabled or chronically ill:...

Fixed Annuities Rise Again: Falling interest rates on CDs have finally given new life to these languishing contracts.
May 1, 2008... For the past few years, fixed annuities weren't even on Kristy Kemnic's radar. But about three months ago, the Michigan-based bank rep started getting bombarded with requests for the interest-bearing contracts from her clients. "With the spread...

Boutique Investing: Wealthy investors are cashing in on commodities, real estate and hedge funds.
May 1, 2008... Much has changed in the investment landscape over the last year, what with the credit market turmoil, the threat of recession and inflation worries. Given this altered environment, now seems like a good time to step back and reassess three of...

Helping Clients Lose Control: Some smart ways that clients can get taxable items out of their estates.
May 1, 2008... Does your client have a taxable estate? There are so many common misconceptions about what constitutes a taxable estate that it's very likely your clients don't know. Many people are under the misapprehension that there is no more estate tax....

Sun, Surf and Sales.
May 1, 2008... BIC: What new or unique opportunities are there in your territory? Lawless: People were using rent from second or third homes for retirement income and investment advisors were going head-to-head with that, but we've really benefited from...