What hockey can teach you about business (Investment News)
Sean Ritchlin, founder and CEO of Rock Harbor, says hockey can give advisors a lot of insight into their business. Ritchlin should know. Aside from being the founder of a mutual fund wholesaler, he is also a college hockey analyst on ESPN and a two-time national champion at the University of Michigan, according to Investment News. Ritchlin says friendly competition can be a powerful motivator. He also thinks your ability to adapt to the element of surprise determines who you become as a person. Finally, Ritchlin says achieving short-term goals helps you reach your longer-term ones.
Goldman Sachs says oil could fall as low as $20 per barrel (Business Insider)
Global commodities research head Jeffrey Currie says that while it's not Goldman's base case, oil could fall to as low as $20 a barrel. According to Currie's latest note, "The oil market is even more oversupplied than we had expected and we now forecast this surplus to persist in 2016 on further OPEC production growth, resilient non-OPEC supply and slowing demand growth, with risks skewed to even weaker demand given China's slowdown and its negative EM feedback loop." In its most likely scenario, Goldman sees $38 a barrel in a month and $45 a barrel in 12 months. West Texas Intermediate crude oil is trading lower by 2.4% at $44.79 a barrel.
Three charged after promising wealth generation through 'God's way' (Financial Advisor)
Financial Advisor reports the Securities and Exchange Commission has filed civil fraud charges against Paul Ricky Mata, David Kayatta and Mario Pincheira for using investor money for their own use. The trio solicited investors through a series of YouTube videos promising "Fiances God's Way" and "Indestructible Wealth," which falsely guaranteed promising returns. According to Financial Advisor the three men raised $14 million from more than 100 investors and were scheduled to hold a three-day "Indestructible Wealth Bootcamp" before the charges were filed to prevent other investors from falling victim to their alleged scheme. In addition to having the charges filed against them, the trio also had their assets frozen.
Wealth managers need to better utilize mobile websites (Wealth Management)
Wealth managers have finally begun to recognize the importance of having a mobile website, with only 12% now without one. However, many wealth managers' mobile sites are just a condensed version of their desktop site, and that is problematic says MyPrivateBanking research director Steffan Binder. He told Wealth Management mobile users have unique needs that must be addressed. A recent survey showed satisfaction with wealth managers' mobile sites climbed from 29% to 43%. While that is a nice improvement, there is still work that needs to be done.
Reorganization costs Cetera's head of wealth management his job (Financial Planning)
Steve Dunlap is out as Cetera Financial Group's head of wealth management. Financial Planning says Dunlap was quietly relieved of his duties two months ago, becoming the sixth executive to be shown the door at the company in the last 10 months. Dunlap told Financial Planning, "Cetera explained at the time that this action was taken that it was simply reorganization and an elimination of wealth management at the firm." Before joining Cetera two years ago Dunlap was an executive at Bank of New York Mellon.