FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
7 behaviors that might predict a person's future wealth (InvestmentNews)
People who are good at generating and saving wealth exhibit certain characteristics, writes Liz Skinner. Recognizing these attributes could give advisors a better sense of their prospective clients.
There are seven behaviors in particular that suggest people may have high net worth potential: recognizing they have what it takes to build wealth; being satisfied with their likely future financial situation; meticulously planning their financial future; recognizing buying opportunities; believing that it's "very easy" to walk away from non-excellent professional service; being satisfied with the way their household manages finances; and living within their means.
The financial industry might not lean as Republican as everyone thinks (Debtwire)
In its annual North American Distressed Debt Market Outlook report, Debtwire noted that 46% of investors surveyed in December 2015 (including hedge fund managers, desk-side traders, asset managers) said they planned to vote for Democrat in the 2016 vote. By comparison, only 27% said they would vote for the Republican.
67% of respondents believe the economy to have better prospects with a Democrat.
If the dollar stabilizes, that headwind could disappear by the end of 2016 (Advisor Perspectives)
The stronger dollar has been a major headwind for US exports, commodity prices, and corporate revenue and earnings. But in the first two months of 2016, that headwind has "subsided substantially," writes LPL Financial's John Canally.
"If the dollar stabilizes at current levels - which is consistent with our view - by the end of 2016, the dollar headwind would disappear altogether, and could turn into a small tailwind for U.S. exports, commodity prices, and corporate revenue and earnings. In the longer term, however, we continue to believe the dollar will slowly depreciate over time-continuing the trend that has been in place since the early 1970s, but at a pace that will not undermine the nation's health or its role as a global economic power," Canally argues.
NextCapital has partnered with Pershing to expand beyond 401(k)s (Wealth Management)
NextCapital, the Chicago-based company, announced that it will partner with Pershing Advisor Solutions as its custodian and will integrate into the NetX360, reports Ryan W. Neal.
"The move beyond the 401(k) seems to place NextCapital into more direct competition with companies with other white-label digital advice providers like Jemstep, Vanare, FutureAdvisor and Marstone, which partnered with Pershing in June to launch a robo provider for Pershing advisors," writes Neal.
3 advisers were separately barred from the industry after stealing money (Financial Planning)
FINRA permanently barred three former advisors from the industry. One stop from clients who cleaned homes for a living; the second embezzled money from a nonprofit; and the third siphoned money out of client accounts through ATM transactions, reports Ann Marsh.