Starting and establishing an asset management firm is a celestial achievement these days, with regulatory requirements at a fever pitch and capital-raising a gamble that the Forty-Niners might have shrunk from.
First, they can invest it in the families’ operating businesses, with a bit of private equity thrown in; or second, add it to a pool of broadly based liquid marketable securities.
The first quarter 2016 issue of The Cerulli Edge - Managed Accounts Edition is dedicated to advice, goals-based planning, and the transition to fee-based accounts.
Overall, corporate pension assets are down 1.8 percent year-to-date, and down 6.2 percent over the last 12 months.
More than 600 new and potential clients in the UK, the U.S., Australia, South Africa, Hong Kong and the United Arab Emirates participated.
“China’s surplus capacity in steelmaking, for example, is bigger than the entire steel production of Japan, America and Germany combined.” - The Economist magazine, February 27th, 2016.
Since about half of advisors don't actually lose their job after misconduct, nearly 3 in 4 professionals with blemished records are still active after a year, Egan said.
One thing advisors should not be doing, if they want to stay out of these databases, or at least out of the sights of lawyers like Jake Zamansky who sue them for a living, is sell clients like Solera bonds paying 11%.