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Market madness is good news for some financial advisors
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
There was nothing "lost" in the first decade of the 21st century as far as the independent financial advisory industry is concerned. While the markets certainly did not contribute much, the typical independent wealth management firm had an amazing time of growth and opportunity. It could be said that advisors grew despite the headwind from the market, but it may be that the industry grew because the markets were so difficult for investors to navigate on their own. More



  Industry News


Gross praises S&P's 'spine' as Buffett says analysts erred
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Bill Gross, manager of the world's biggest bond mutual fund, said Standard & Poor's showed "spine" by cutting the U.S. debt rating, contradicting Warren Buffett and Legg Mason Inc.'s Bill Miller, who said the rating company erred. S&P on Aug. 5 lowered the U.S. one level to AA+ while keeping the outlook at "negative" as it becomes less confident Congress will end Bush-era tax cuts or tackle entitlements. The U.S. merits a "quadruple A" rating, Buffett, 80, said in an interview with Betty Liu of Bloomberg Television. Miller said S&P was "precipitous, wrong and dangerous" in lowering the rating after the recent stock market selloff. More

State looks to regain spot as captive insurers' home
Northern Nevada Business Weekly    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Legislative changes may jump-start Nevada's efforts to be among the nation's leading homes for corporations' captive insurance operations. Captive insurance companies are created by companies to insure their own risks, and are most commonly used to cover liability or property risks. The parent company pays premiums to the captive and, in return, takes dividend payments if the captive manages its risks wisely and remains profitable. More

Shifting client money
MarketWatch    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The likelihood of a recession, how one advisor shifted clients' assets to safer havens and how others see means testing being applied to Social Security are discussed in this edition of the Wealth Editor's Report by Kevin Noblet, Dow Jones managing editor for wealth management. More

Advisors say time is right for high-yield stocks
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Prompted by a host of financial and economic developments, a growing number of investment advisors are steering their clients toward dividend-paying stocks. "The stocks and assets that have done the best are likely to perform less than the large cap dividend-payers over the next few years," Kate Warne, market strategist for St. Louis brokerage Edward Jones, told Reuters. "We think it's time for individual investors to reposition into less risky stocks." More

FSP Members Offered 30-Day Free Look at LISI
Leimberg Information Services, Inc., the email subscription service that provides financial service professionals with analysis and commentary on tax legislation, regulation, cases and rulings, is offering a free look for 30 days. This offer is available exclusively to FSP members, without cost or obligation. Included are eight newsletters in financial service areas, access to a database of commentary, a Podcast library and more. For details, visit LISI.


  Regulatory and Legislative News


SEC launches new whistleblower program
CNBC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The SEC unveiled a new website — one that explains how people can potentially make millions of dollars by turning in corporate wrongdoing. It's part of the new Office of the Whistleblower, a unit designed by the Dodd-Frank Wall Street reform law. People who bring in reliable new information about frauds of $1 million or more will be eligible for payouts of between 10 and 30 percent of the amount recovered. More

What if the mandate goes?
Politico    Share    Share on FacebookTwitterShare on LinkedinE-mail article
If the Supreme Court strikes down the individual mandate at the heart of President Barack Obama's health care law, Congress may have to "fix" the rest of the law to prevent a disaster. But what if Congress isn't in the mood to "fix" anything? With all the bickering over whether the law should even exist, why wouldn't lawmakers just keep fighting as many of them try to undo the whole thing? That's a real scenario that the Obama administration could face, after a divided 11th Circuit Court of Appeals recently ruled that the federal government could not require Americans to buy health insurance. More

  Practice Management


Life insurance: An opportunity for financial advisors
Financial Planning    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In volatile times, like the ones we have seen recently, investors tend to look for stability. Yet only 49 percent of those with a financial advisor and a financial plan have discussed life insurance with their advisor, according to a recent survey, an interesting finding given that life insurance is not subject to market or interest rate volatility for the death benefit withdrawal and so is considered a safer place to park assets. More

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  Society News and Programs


FSP website has valuable tools and resources for members
Society of FSP    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Society website features search and research capabilities (including all publications), nine Professional Interest Sections, the Career Center and much more. Visit FSP and take advantage of your many benefits.

Connect with fellow FSP members in e-Discussion Groups
Society of FSP    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Online forums serve as platforms to share opinions and experiences and keep you updated on issues affecting your practice specialty. Click Opt Into and Participate in eGroups.
 




 
FSP NewsBrief
Colby Horton, vice president of publishing, 469.420.2601   Download media kit
Bianca Van Audenhove, senior content editor, 469.420.2611   
Disclaimer: The articles that appear in FSP NewsBrief are chosen from a variety of sources to reflect topics of interest to FSP members and other financial service practitioners. The inclusion of an article or advertisement in FSP NewsBrief does not imply that the Society of FSP endorses, supports or verifies its contents or expressed opinions. Factual errors are the responsibility of the listed publication. FSP NewsBrief articles may be protected by copyright and should not be reproduced without express permission of the copyright holder.

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