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New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> on Tuesday proposed relaxing net-worth, qualification and experience requirements for <keyword id="22695845" type="General" weightage="20" keywordseo="investment-advisers-and" source="keywords">investment advisers and</keyword> research analysts, a move aimed at curbing the activities of unregulated <keyword id="22205854" type="General" weightage="20" keywordseo="financial-influencers" source="keywords">financial influencers</keyword>. The proposals will simplify and reduce registration requirements and compliance costs for <keyword id="21253972" type="General" weightage="20" keywordseo="investment-advisers" source="keywords">Investment Advisers</keyword> (IAs) and Research Analysts (RAs) registered with Sebi, the regulator said. In its consultation paper, Sebi has proposed to relax minimum qualification from post-graduate to graduate degree and remove the experience requirement for registration as investment advisers and research analysts. Currently, IAs and RAs are required to obtain the prescribed certifications from NISM at the time of registration. They are required to obtain the same base certifications before expiry of validity of such certifications. Additionally, the regulator has proposed to abolish the requirement of maintaining minimum net worth by IAs and RAs. Instead, it has proposed that IAs/RAs should maintain a deposit with the stock exchange, based on the number of clients. For up to 150 clients, investment advisers or research analysts will have to maintain a deposit of Rs 1 lakh, for 150 to 300 clients, they need to maintain Rs 2 lakh, for 300 to 1,000 clients, the deposit requirement will be Rs 5 lakh and for over 1,000 clients, the requirement will be Rs 10 lakh. Also, Sebi has proposed allowing individuals or partnership firms to register as both IA and RA and allow individuals or partnership firms engaged in non-securities businesses to register as IA/RA. Sebi noted that the Indian securities market has seen a significant increase in domestic investors due to market growth and technical advancements. However, the number of registered Investment Advisers and Research Analysts remains low compared to the large investor base, especially when compared to countries like the United States. "This is leading to proliferation of the unregistered entities acting as IAs and RAs," it added. To ensure investors can make informed decisions and to support the growth in wealth creation, a larger number of registered IAs and RAs is needed, the Sebi said. Recently, Sebi board approved a series of measures on restricting the play of fin-influencers, which focus mainly on policing the segment through their tie-ups with the entities regulated by Sebi. Also, senior Sebi officials in the recent past have said that challenges to get registered as an investment advisor are among the reasons for growth in the problematic fin-influencers segment. The registered investment advisors have said that getting and maintaining the registration is an onerous task due to which their numbers are low. The <keyword id="19901204" type="General" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (Sebi) has sought public comments till August 26 on the proposals.

Sebi proposes relaxing norms for investment advisers and analysts, floats consultation paper

<keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed that registered <keyword id="21253972" type="General" weightage="100" keywordseo="investment-advisers" source="keywords">Investment Advisers</keyword> (IAs) and <keyword id="21511721" type="General" weightage="20" keywordseo="research-analysts" source="keywords">Research Analysts</keyword> (RAs) who employ artificial intelligence (AI) tools in their services must disclose the extent of their usage to clients, emphasizing the importance of strong security measures to avoid unintended data exposure. This transparency is crucial for clients to understand how <keyword id="20096338" type="General" weightage="20" keywordseo="AI-tools" source="keywords">AI tools</keyword> contribute to their investment decisions and to make informed choices about their advisory services. "The possibility of unintended data exposure highlights the need for strong security measures and clear disclosure to clients about the extent of AI tool usage", Trivesh D, COO at Tradejini, a stock trading platform, told PTI. The Securities and Exchange Board of India (SEBI), in its consultation paper earlier this month, highlighted the growing usage of AI tools in Investment Adviser (IA) and Research Analyst (RA) services. With technological innovations and advancements, many AI tools are currently available in chatbot form such as OpenAI's ChatGPT, Google's Gemini, etc. AI-based tools allow one to have human-like conversations and receive human-like responses with the chatbot. These tools assist various tasks such as summarising and analysing data and may help in improving efficiency and productivity. "These AI tools, however, may not adequately safeguard sensitive data shared during conversations, potentially leading to unintended data exposure and concerns related to <keyword id="19900735" type="General" weightage="20" keywordseo="data-security" source="keywords">data security</keyword>," SEBI said in its consultation paper issued last week. Feroze Azeez, Deputy CEO, Anand Rathi Wealth Ltd said "while embracing this innovation, we must be mindful of its implications and responsibilities". IAs provide personalised services according to client-specific requirements, based on <keyword id="22797015" type="General" weightage="20" keywordseo="risk-profiling" source="keywords">risk profiling</keyword> and suitability. Similarly, RAs provide recommendations based on certain parameters and methodology adopted and are required to keep records of the research report, research recommendations and rationale for arriving at research recommendations. While AI tools can provide significant assistance in the work of IAs and RAs, they may not always give meaningful outputs that are expected to be based on the understanding of complex security-specific or client-specific scenarios/ requirements such as personal/ financial conditions or goals, SEBI stated. Further, such tools may not always provide all the information based on which output/ recommendation has been generated. For example, AI tools may not bring out whether the requirements of risk profiling and suitability have been complied with by IA, it added. "An IA/RA who uses AI tools for servicing its clients must provide complete disclosure of the extent of use of such tools to its prospective clients, to enable them to take informed decisions of continuance or otherwise with the IA/RA," SEBI suggested in the consultation paper. Considering that the investment advice/ research services provided by IA/RA based on AI tools would affect the investment decision of clients, SEBI said, the responsibility of data security, compliance with the regulatory provisions governing investment advisory services/research services lies solely with the IA/ RA, irrespective of the scale and scenario of IA/ RA using AI tools. Trivesh believes that <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> can significantly enhance the efficiency and reach of investment advisory service, but it should be used as a complementary tool, rather than a complete replacement for human judgment and expertise. "The dynamic and culturally diverse nature of India's financial landscape demands personalized investment advice that AI alone cannot provide. Since AI will undoubtedly continue to change the <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword> sector, efforts to integrate it into IA and RA services should be pursued with a balanced approach, leveraging its strengths while addressing its limitations," he added. Additionally, SEBI is also looking to create a closed ecosystem for fee collection by registered investment advisers and research analysts through a separate mechanism in order to help investors ensure that their payments are reaching only registered IAs and RAs and help them identify, isolate and avoid unregistered entities, who would be unable to access this closed ecosystem.

Investment Advisers, Research Analysts should disclose AI tools usage to clients, notes SEBI

<ul class="summary-list"><li>Before he was the vice president-elect or a senator, <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> was a venture capitalist.</li><li>He maintains ownership stakes in several funds, according to his disclosure forms.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/election-results-congress-historic-firsts-2024-11">JD Vance</a> is a man of many careers: attorney, author, senator, vice president-elect, and, perhaps less well-known, venture capitalist.For about six years between graduating from law school and becoming a United States senator from Ohio, Vance held various positions in the space before eventually starting his own fund, Narya Capital.Over his career, Vance has been involved in investments across a broad range of business areas. Through Narya, he continues to hold a portfolio of investments in several startups, though he gave up his role as a partner there in 2022 and doesn't actively run or advise any of the companies.<h2 id="4b0a6db6-89d6-4a96-93e8-e561475e4b10">Vance's early VC career</h2>After a brief stint at a now-defunct biotech startup, Vance got a job at his benefactor <a target="_blank" href="https://www.businessinsider.com/peter-thiel">Peter Thiel's</a> venture fund Mithril Capital.He went on to work as a managing partner at <a target="_blank" class="" href="https://www.businessinsider.com/rise-of-the-rest-steve-case-jd-vance-2018-1">Rise of the Rest</a>, part of Steve Case's Revolution venture firm. The fund's mission is to invest in companies outside major tech hubs — New York, Silicon Valley, Boston — and Vance, whose outsider persona was cemented by his memoir <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-hillbilly-elegy-transformation-trump-vice-president-2024-7">"Hillbilly Elegy"</a>, was <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-venture-capital-opioid-nonprofit-tech-record-ohio-senate-2021-8">seen as a perfect fit for the fund</a>.Vance was active in a number of deals for the firm, including leading investments in storage-sharing startup Neighbor, agtech company AppHarvest, and AI outfit Pryon, Rise of the Rest confirmed.<h2 id="114f37cf-0035-49cd-8b40-1bd02d5bdb6c">Vance co-founded Narya Capital in 2019</h2>After two years, Vance broke out on his own, cofounding <a target="_blank" href="https://www.businessinsider.com/hillbilly-elegy-jd-vance-launches-vc-fund-backed-by-thiel-2020-1">Narya Capital</a> in 2019 with investments from Thiel, former Google CEO Eric Schmidt, and VC veteran Marc Andreessen.Vance still owns pieces of the funds that he helped advise. According to his vice president and senate disclosure forms, he has a stake in Narya Capital Fund I, Narya Capital Fund II, and Rise of the Rest Seed Fund.His stake in Narya Capital Fund I is worth between $500,001 and $1 million. His holdings through Narya's Capital Fund II and the Rise of the Rest's Seed Fund are smaller, worth as much as $15,000 and $250,000, respectively, according to his disclosure forms.Through all three funds, he holds a portfolio of investments in dozens of startups. He doesn't actively run or advise any of the companies, and gave up his role as a partner in Narya in December 2022 after winning his senate seat, according to disclosure forms.It's not entirely clear which Rise of the Rest companies Vance has a stake in. The fund has two $150 million investment vehicles and did not disclose which portfolio companies are in which fund.Narya, meanwhile, has only completed one fundraise so far — its $120 million Fund I. The fund has a dozen active investments, according to its website, and because Vance has a stake in the fund, he technically owns a stake in each.The companies vary in their mission: One is a gene therapy company founded by Vivek Ramaswamy's brother, while another is a Catholic meditation and prayer app. Thiel, one of Vance's mentors, is listed as a separate investor in many of the companies, per PitchBook.Some are the type of companies that could work with the government.True Anomaly, an aerospace company for which Narya participated in two rounds of funding, <a target="_blank" class="" href="https://www.trueanomaly.space/newsroom/true-anomaly-selected-for-30m-space-systems-command-contract-in-support-of-victus-haze-tactically-responsive-space-mission">won a $30 million government contract</a> from the US Space Force in April. ValueBase, a property valuation software, lists local governments among its customer base on its website.Nayra has had two exits: <a target="_blank" class="" href="https://www.businessinsider.com/what-is-rumble-conservative-video-youtube-competitor-joe-rogan-2022-2">Rumble</a>, the conservative-leaning social video platform that went public in 2022, and AppHarvest, which went public in 2021.Criminal conflict of interest laws do not apply to the president and vice president.Luke Schroeder, a spokesperson for the vice president-elect, said that Vance has complied with all required disclosures and is not directly involved in the funds.<h2 id="883278a9-d442-4e81-aeb4-b282861515b7">Here are Narya's current portfolio companies</h2>Deal details, unless noted with a comment from the company, come from PitchBook.<table style="width: 652px"></colgroup></colgroup><tbody><tr><td>Company</td><td>Industry</td><td>Deal Description</td></tr><tr><td colspan="1" rowspan="1">AcreTrader</td><td colspan="1" rowspan="1">Farmland investment</td><td colspan="1" rowspan="1">Narya contributed to AcreTrader's $12 million Series B round in 2021. "Senator Vance has no involvement in AcreTrader's operations or strategic direction," the company said.</td></tr><tr><td colspan="1" rowspan="1">AmplifyBio</td><td colspan="1" rowspan="1">Biotech</td><td colspan="1" rowspan="1">Narya took part in the company's $200 million, early-stage investment round in 2021.</td></tr><tr><td colspan="1" rowspan="1">Atomic Industries</td><td colspan="1" rowspan="1">Manufacturing</td><td colspan="1" rowspan="1">In 2023, Narya contributed to a $16.5 million early-stage round.</td></tr><tr><td colspan="1" rowspan="1">Branch</td><td colspan="1" rowspan="1">Insurance</td><td colspan="1" rowspan="1">Narya took part in Branch's 2022 $147 million Series C. During his time at Rise of the Rest, Vance led an investment in Branch.</td></tr><tr><td colspan="1" rowspan="1">Chapter</td><td colspan="1" rowspan="1">Medicare advisory</td><td colspan="1" rowspan="1">Narya contributed to three of Chapter's fundraising rounds: A 2021 $17 million Series A round, 2022 $42 million Series B round, and 2024 $50 million Series C round. Peter Thiel is also an investor in Chapter.</td></tr><tr><td colspan="1" rowspan="1">Hallow</td><td colspan="1" rowspan="1">Religion</td><td colspan="1" rowspan="1">Narya invested in Hallow's 2021 $40 million Series B round."We worked with another partner at the fund on the investment - not with JD at all," Alex Jones, Hallow's CEO, told BI. Thiel is also an investor in Hallow.</td></tr><tr><td colspan="1" rowspan="1">Kriya Therapeutics</td><td colspan="1" rowspan="1">Gene therapy</td><td colspan="1" rowspan="1">Narya contributed to three of Kriya's funding rounds, including a $87.6 million Series A in 2020, $100 million Series B in 2021, and $430 million Series C in 2023. Kriya Therapeutics is founded by Shankar Ramaswamy, the brother of Vivek Ramaswamy.</td></tr><tr><td colspan="1" rowspan="1">Realm Alliance</td><td colspan="1" rowspan="1">Security services</td><td colspan="1" rowspan="1">Earlier this year, Narya took part in Realm Alliance's seed round.</td></tr><tr><td colspan="1" rowspan="1">Strive</td><td colspan="1" rowspan="1">Asset Management</td><td colspan="1" rowspan="1">Narya invested in Strive's $20 million seed round in 2022 and $30 million Series B earlier this year. Thiel is also an investor in Strive.</td></tr><tr><td colspan="1" rowspan="1">True Anomaly</td><td colspan="1" rowspan="1">Space</td><td colspan="1" rowspan="1">Narya contributed to True Anomaly's $100 million Series B in 2023 and $17 million Series A in 2022. The company won a contract from the US government earlier this year.</td></tr><tr><td colspan="1" rowspan="1">ValueBase</td><td colspan="1" rowspan="1">Property valuation</td><td colspan="1" rowspan="1">Narya took part in ValueBase's $6.3 million seed round earlier this year.</td></tr></tbody></table>

Before politics, JD Vance had a career in venture capital. Here are the startups he's invested in.

<ul class="summary-list"><li>The SEC is cracking down on investment advisers is says falsely claim to use AI.</li><li>The agency settled with two advisers, Delphia and Global Predictions, who agreed to pay fines of $225,000 and $175,000, respectively.</li></ul>The SEC is beginning to crack down on companies it says are "AI washing."In a <a href="https://www.sec.gov/news/press-release/2024-36">release</a> on Monday, the agency announced that they had settled with two investment advisers, who agreed to pay six-figure fines after being charged with "making false and misleading statements about their use of artificial intelligence."The firms, Delphia (USA) and Global Predictions, agreed to pay penalties of $225,000 and $175,000 respectively.The decision arrives about a month after SEC chair Gary Gensler <a href="https://markets.businessinsider.com/news/stocks/artificial-intelligence-investment-ai-washing-sec-gary-gensler-tech-stocks-2024-2">warned investors</a> about misleading claims of AI use and highlighted the potential risks of AI to financial stability."We've seen time and again that when new technologies come along, they can create buzz from investors as well as false claims by those purporting to use those new technologies," Gensler said per the release. "Investment advisers should not mislead the public by saying they are using an AI model when they are not. Such AI washing hurts investors."Delphia, a Toronto-based firm, was charged for saying they used AI and machine learning to figure out which companies and trends would take off and invest in them before everyone else, which the SEC claimed was false. Global Predictions was charged for saying they were the "first regulated AI financial advisor" and that they provided "[e]xpert AI-driven forecasts" — claims also disputed by the SEC.The release also noted that Delphia and Global Predictions settled without admitting or denying the SEC's findings.As the AI hype multiplies and sweeps across all industries, it's gathering increasing scrutiny from the government watchdog. The SEC issued an <a href="https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/artificial-intelligence-fraud">investor alert</a> in January, warning about AI and investment fraud."Individual investors should know that bad actors are using the growing popularity and complexity of AI to lure victims into scams," the alert said.

The SEC is cracking down on investment advisers that falsely claim to use AI

Tensions in Middle-East are rapidly inching closer to their zenith, with Iran firing about 200 ballistic missiles at Israel late yesterday night. In response today, the Indian markets witnessed their worst decline in two months, with Sensex dipping around 1,769 points, or 2.1% to close at 82,497.10. <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> followed suit and was also down by 2.1% to close the day at 25,250.10. As a result, about Rs 11 lakh crore were wiped off the market today. The decline was broad-based, with sectors like realty (dipped by over 4%) auto, and energy suffering the most. Broader indices also fell, losing nearly 2% each. The Hang Seng index, which had rallied over 14% during the last week, largely on the back of various stimulus measures announced by the central bank to stir consumption in the Chinese economy, also slumped around 1.47%. With the possibility of an all-out war between Iran and Israel looming on the horizon, threatening to happen sooner than later, markets are expected to remain volatile in near future. Even the India VIX, seen as a gauge of uncertainty and investor fear in the market, jumped over 9% during the day. The war could throw a huge spanner on India's crude oil import plans. As of August 2024, about 44.6% of India's crude oil imports came from <keyword id="19904316" type="General" weightage="20" keywordseo="middle-east" source="keywords">Middle East</keyword>. Israel has already promised significant retaliation, in response to Iran's attack in the days to come. And the strong possibility of a full-blown Israeli attack in Middle East, particularly major oil fields in Iran has sent the crude oil prices surging. Closer home, ONGC (Oil and Natural Gas Corporation) was amongst the biggest gainers on NSE today. <h2>Should Indian investors worry? </h2>But is the impending action in Middle-East the only reason behind today's drastic fall? Vishnu Kant Upadhyay, AVP, Research &amp; Advisory at Master Capital Services notes that while it plays a significant role, other factors are also at play. "Recent regulatory changes in the F&amp;O segment by SEBI is expected to impact trading volumes, as retail participation may decline due to the increased contract size and limits on weekly expiries. Meanwhile, strength in the Chinese market, following the People’s Bank of China (PBoC) stimulus package, has also diverted foreign investment to China, where valuations remain more attractive compared to India", he noted. But Upadhyay believes that the extension of losses in Indian markets wont last long. "From a technical perspective, as long as prices hold above the 25,250–25,100 zone, any decline could present an opportunity to build fresh long positions. A stock-specific approach is advisable, with sectors such as Oil, IT, PSU Banks, Metals, and Chemicals likely to outperform in the coming days", he adds. Shrikant Chouhan, Head Equity Research, Kotak Securities observes that as long as market is trading below 25,365/82,800, the weak sentiment is likely to continue. On the down side, it could slip till 25,150-25,025/82,200-82,000 as well. On the other side, one quick technical pullback is likely if the market succeeds to trade above 25,365/82,800. Above the same, it could bounce back till 25,475-25,500/83,100-83,300. The current market texture is volatile hence; level based trading would be the ideal strategy for the day traders. <h2><keyword id="20760178" type="General" weightage="20" keywordseo="mutual-fund-investors" source="keywords">Mutual fund investors</keyword>, stay put</h2>In the aftermath of a <keyword id="19968045" type="General" weightage="20" keywordseo="market-correction" source="keywords">market correction</keyword>, most mutual fund investors often face a critical decision- should they stop their SIPs (<keyword id="21047553" type="General" weightage="20" keywordseo="Systematic-Investment-Plans" source="keywords">Systematic Investment Plans</keyword>) or to view the downturn as a valuable opportunity to acquire more mutual fund units? By continuing SIPs during such downturns, investors can take advantage of 'rupee-cost averaging,' i.e. accumulating more units when prices are down. This approach not only lowers the average cost per unit, but also positions the portfolio for greater returns when the market eventually recovers, and softens the impact of short-term volatility. Swapnil Aggarwal, Director, VSRK Capital explains that alongside maintaining regular investments, revisiting your asset allocation is also essential in these turbulent times. A well-diversified portfolio, that balances equities with safer assets like bonds can withstand market fluctuations more effectively. You can consider shifting some investments into bond funds or other stable instruments, which can provide a cushion against further declines. <h2>What happens next? </h2>While the immediate impact of a market correction may lead to declines in the NAV (Net Asset Value) of mutual funds, disciplined investors can view this as a moment to reassess their strategies. Focusing on your <keyword id="20908416" type="General" weightage="20" keywordseo="long-term-financial-goals" source="keywords">long-term financial goals</keyword> will let you turn market volatility into opportunity! The market will remain keenly focused on the evolving situation in the Middle East. What will also be equally important are the US monthly jobs data due tomorrow, which could determine the size of Fed's next interest rate move in November.

Nifty, Sensex in freefall today as Iran mounts attack on Israel. Here's what experts think you should do

Post the Fed's 50 basis point interest rate cut in September, the yellow metal has been scaling record highs every day. And per a recent <keyword id="22362020" type="General" weightage="20" keywordseo="UBS-report" source="keywords">UBS report</keyword>, its glitter is not going down anytime soon, with gold potentially touching $2,750 by the end of this year, and as much as $2,900 by the third quarter of 2025. Treasury yields, or interest rates have always had an inverse relationship with gold, which is why the metal's demand witnesses a notable uptick, every time the Fed slashes rates. This is because an interest rate cut reduces the yields i.e. returns that investors earn by way of having funds in government treasury bonds. As a result, investors tend to withdraw their money, weakening the dollar, thereby making the yellow metal a lucrative investment option. Going ahead, the markets are anticipating that the Fed will further bring down interest rates again, by around 75-100 basis points by the end of this year. As the CME FedWatch Tool indicates, there is now a 62.2% chance that the Fed will cut down interest rates by another 50 basis point during its meeting in November. This is also why <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> have been seeing a healthy growth in both domestic and international markets. According to a report by Angel One, the demand of safe-haven gold is only set to go up in the months to come. Apart from Fed's rate cuts and the upcoming <keyword id="20585365" type="General" weightage="20" keywordseo="US-elections" source="keywords">US elections</keyword>, there are tensions brewing globally on the geo-political front, with militant group Hezbollah's leader <keyword id="22445260" type="General" weightage="20" keywordseo="sayyed-hassan-nasrallah" source="keywords">Sayyed Hassan Nasrallah</keyword> killed in a powerful airstrike in Beirut. This has dealt a heavy blow to the Iran-backed group, as it reels from an escalating campaign of Israeli attacks. "In such times, zero-yield bullion tends to be a preferred investment, more likely so in a low-interest rate environment and also, during geopolitical turmoil", the note added. <h2>Momentum set to continue </h2>The bullion recently touched an all-time high price of $2,670 on September 24th, 2024, and has rallied as much as 10% during the past 6 months. Closer home, we are approaching the festive season, as India gears up to celebrate festivals like Diwali (Dhanteras) and Akshaya Tritiya in October. These have long been associated with heightened gold purchases in the country. Particularly, Dhanteras sees a surge in gold buying as it is considered an auspicious time to acquire new assets, majorly gold. As the UBS report states, "the metal's current elevated starting point provides increased scope for gains in the coming months, particularly as ETF demand accelerates. We recommend gold as a strategic hedge within a diversified portfolio, suggesting a 5% allocation to the precious metal". Alekh Yadav, Head of Investment Products at Sanctum Wealth, also advises making some allocation to gold in your portfolio, since gold has a negative correlation with equities; whenever equity markets correct, gold typically performs better. Given that US markets are currently at elevated valuations, gold can serve as a hedge against potential global equity corrections, he explains. "In conclusion, we believe that some allocation to gold, even at current levels, makes sense as a hedge against global risks", he continues. As a thumb rule, you should always have anywhere between 5-10% allocation to gold via digital gold, gold bonds, exchange traded funds (ETFs), sovereign gold bonds (SGBs) etc., since it serves as an effective hedge against inflation, and declining yields. Note that your allocation to gold should not be arbitrary or as a lumpsum, but rather in sync with your overall financial goals, and also, should be increased gradually, via SIPs. However, during prevailing economic conditions, increasing your investments in gold might not be a bad idea as well. But remember to consult with your financial planner over this. Over-investing in gold is also not advisable, since the asset class does not generate high-returns, which means a significant potion of your money could be stuck in a non-yield generating asset, when it could have been in equities or other assets, which generate comparatively more returns.

Is this a good time to invest in gold? Here's what experts are saying

When you try your best and don't succeed When you (don't) get what you want, but not what you need When you feel so tired, but you can't sleep Feeling these lyrics a little too much, since you could not ‘fix you’(self) tickets for <keyword id="20399945" type="General" weightage="20" keywordseo="Coldplay" source="keywords" meta.keywordsubtype="org" meta.entityname="Coldplay" meta.hostid="261" meta.entityid="Coldplay">Coldplay</keyword>'s 2025 concert in Mumbai? You were all set at 12 noon yesterday, ready to quickly snap up tickets that would not break your bank account, but also get you the best view of the stage, all at the same time. You had mentally mapped out how you'd make the most of 4 minutes that were allotted to everyone to buy tickets? But despite all the effort, you never moved ahead in the queue which had lakhs of Indians clamoring for tickets for the India leg of the iconic band’s “Music of the Spheres” world tour. This, after Coldplay announced a third show on 21st January, seeing their “phenomenal demand” in India. Mumbai based banking professional Agastya Shikhar came as close at 5,004 in the BookMyShow queue. One of his friends had inched even closer, at 604. And yet, they could not secure the tickets. As it is, the wound of not being able to secure tickets for <keyword id="20085213" type="General" weightage="20" keywordseo="Diljit-Dosanjh" source="keywords" meta.keywordsubtype="org" meta.entityname="Diljit Dosanjh" meta.hostid="261" meta.entityid="Diljit Dosanjh">Diljit Dosanjh</keyword>’s India leg of Dil-luminati tour was very fresh. And even though Diljit has announced a second show for Delhi-ites, along with adding pit stops in Jaipur and Mumbai, who knows whether you'll be able to lap up the tickets in just microseconds, before they are all sold out, yet again. But here's what you can certainly achieve, instead of lamenting over missing out on these concerts. Yes, they are once in a lifetime experiences, but you can create more for yourselves, all by smartly using the funds you saved from here in the stock market, and multiplying your funds, instead of just spending them away. Assuming you were going to buy two of the most expensive tickets of the lot in both the concerts, i.e. the lounge tickets in Coldplay’s worth Rs 35,000/per person, and fan pit tickets worth Rs 20,000/per person in Diljit’s. Following the US Fed’s rate cut last week, Indian markets are scaling all time highs, a trend which is set to continue for some time to come. As such, large-cap mutual funds are currently in the spotlight. And over a 1-year period, most large-cap mutual funds have delivered an average return of about 40%. So, if you invested Rs 70,000 in a large-cap mutual fund, you'd have amassed close to a lakh rupees (Rs 97,650) or even more by September next year. If you're a bit of a risk-taker, you can also invest in <keyword id="23278136" type="General" weightage="20" keywordseo="small-cap-index-funds" source="keywords">small-cap index funds</keyword>, which have delivered average returns of about 50% in the past 1 year. Your Re 70,000 could easily turn into Rs 1,05,000 in just 365 days, without you having to do anything! But remember to diversify your <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> across small, mid and large caps, and not concentrate your money in a single fund. Mr. Anand K. Rathi, Co-Founder of MIRA Money highlights that two good options for a holding period of about three to six months are liquid funds and ultra-short bond funds. "Liquid funds have an average holding period of 20 to 30 days, making them suitable for short-term investments. They provide immediate liquidity, allowing redemption on the next working day. On the other hand, ultra-short bond funds have a slightly longer duration, matching the three to six-month holding period. They offer returns similar to annual fixed deposits, typically around 6.7 to 6.8%, making them a good option for short-term investments with better liquidity", he continues. See, there's always a risk of market changes adversely impacting your returns, don't let that deter you. Focus on your goal- of giving yourself and your partner a foreign trip to Thailand, Malaysia, Singapore, Uzbekistan, Vietnam and more, or anything that you want, all by smartly deploying the unused funds from here. SEBI-registered RIA Gaurav Goyal also advises investment in arbitrage funds for the time being as well. "Arbitrage Funds are equity-oriented hybrid funds that leverage arbitrage opportunities in the market. These can be a pricing mismatch between two exchanges, different pricing in the spot and futures market, etc. The fund manager of an arbitrage fund buys and sells the shares at the same time and earns the difference between the selling price and the buying price of the share", he says. And who knows, when you're sipping margaritas on the balmy beaches of Sri Lanka next year, you might not feel so bad about missing out on these concerts? Invest these funds as soon as possible, so that you can achieve your other short-term desires like traveling or anything else. Ofcourse, you can have Diljit and Coldplay playing in the background while you do that!

Could not buy concert tickets for Diljit Dosanjh or Coldplay? Here's what you can do with all the unspent funds

<ul class="summary-list"><li>Dana Blue is an estate-planning attorney who helps families navigate assets after a loved one dies.</li><li>Inheritances can create an opportunity to purchase a house, return to school, or run a business.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://danabluelaw.com/">Dana Blue</a>, a 44-year-old estate planning, probate, and real estate attorney in Philadelphia. The following has been edited for length and clarity.When I started my law practice in 2017, I <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/how-to-make-a-will-without-a-lawyer">drafted simple wills</a> for free. Since then, I've expanded my practice to offer trust-centered estate planning and probate administration services.I value the opportunity to support families during their times of grief, but sometimes, when you mix grief, money, and family dynamics, it can be a very volatile cocktail.I work closely with heirs or beneficiaries to navigate them through the probate process. Once the assets are distributed, clients are often left with money, property, or a business. Some people inherit just a few thousand dollars, and others walk away with life-changing money.After almost a decade of being an attorney, I've witnessed the variety of ways <a target="_blank" href="https://www.businessinsider.com/inheritance-estate-lawyer-saddest-stories-families-fighting-2024-5">inheritance has changed people</a>, both positively and destructively.<h2 id="980af646-d571-42d1-be99-f97a371c38a5">It can bring on newfound wealth, but it might come with more responsibilities</h2>When you inherit a business, learning its operational, financial, and legal aspects is crucial. I've seen cases where people inherit their family's business with no experience and bankrupt it in just months due to poor financial management.If you plan to keep the business within the family, developing a succession plan that details how the business will be transferred to the next generation, including training and mentoring the future leaders, is vital.During the pandemic, a college-aged client's father died, and she inherited his printing business. Suddenly, she had to manage orders and payroll, pay vendors, and understand contracts, service delivery, hiring, and firing. Luckily, her father left a comprehensive succession plan, documented company policies and procedures for her to follow, and a list of trusted advisors to leverage for help.<h2 id="34d88fe4-df12-4325-a41b-671fb2030dc5">It can change the trajectory of a person's life, especially their career</h2>One of the most impactful ways I've seen people use their inheritance was for education. Using some of it to pursue a degree could be an investment that yields a higher payout over time.About four years ago, I had a client who started college but withdrew after two years when she became pregnant. She wanted to return to school and earn her degree but couldn't re-enroll due to unpaid tuition bills and past-due student loans she couldn't afford to pay.When she <a target="_blank" href="https://www.businessinsider.com/received-250000-inheritance-regret-how-spent-it-2024-8">received an inheritance</a> from her grandfather's wrongful-death lawsuit, she was able to pay off her debts and go back to school full-time without acquiring new student loan debt.<h2 id="1880a406-b69c-41ea-abce-a52dc2380786">It can isolate you from family members</h2>Inheritances can impact family members in different ways and even tear them apart. I've seen situations where a parent added only one child of many to their property deed. Sometimes, adult children may be excluded from the will altogether.If you're the only family member or sibling who received assets, others may perceive that as unfair. This can yield mistrust, separation, or arguing within the family. Understanding these potential issues can help families plan better and communicate their intentions and expectations openly.<h2 id="90230ac2-2a6c-43d2-8730-d07eeb29a889">It can cause additional conflict if there's not a will</h2>Family dynamics are disrupted the most when a loved one dies without a will. Without a will or trust, your state's intestate laws determine how your loved one's assets are distributed.When an estate goes through probate, family members sometimes feel a loss of control because we must distribute the assets according to state laws and not how their loved one may have wanted. This can mean stepchildren and longtime unmarried partners are not entitled to receive any part of the estate.A brother who moved away 20 years ago and cut himself off from the family will still receive his 50% inheritance. Examples like this empower me to keep telling as many people as possible that you must create your estate plan to ensure the people in your life get your assets in the way you want them to, not how the state will divide them.<h2 id="60ca058e-ecca-4f58-a71f-5c893d3f9b01">It can cause a person to be consumed by sudden wealth syndrome</h2>In some cases, when a person gets an inheritance and didn't have very much money before, it can cause them to be consumed by sudden wealth syndrome, my term for coming into a lot of money fast and spending impulsively or simply not understanding how to manage or invest it.A few years ago, a client used a $90,000 inheritance from her grandmother to <a target="_blank" href="https://www.businessinsider.com/inherited-money-mistake-regret-2024-3">buy her first house in cash</a> but didn't consider the cost of rehabbing or maintaining it within her salary means. The house needed immediate repairs on top of homeowners insurance, maintenance, and taxes.She had a pool added to the backyard but was shocked by the cost of maintaining it and her increased insurance premium. She bought a pre-owned Range Rover that quickly depreciated and was draining her inheritance with repair costs. At one point, she was considering <a target="_blank" href="https://www.businessinsider.com/personal-finance/credit-score/what-does-bankruptcy-mean-definition">filing for bankruptcy</a> because she was essentially using credit cards to maintain her post-inheritance lifestyle.If you're creating an estate plan and know that a family member might be susceptible to sudden wealth syndrome once they receive the assets, you can set up a trust with specific conditions or staggered distributions to manage how and when they receive them.<h2 id="5efa705e-ce24-4509-a299-144de4ef8baa">Meet with professionals who can help you plan for the future to avoid negative consequences</h2>If you just found out that you'll be receiving an inheritance, consulting with estate attorneys and financial planners can be helpful. You can then make informed decisions about your inheritance, ensuring it's managed and preserved effectively for your and your family's future.If you have children, you might be able to use some of the money to establish their future generational wealth by putting some in vehicles like a <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-a-529-plan">529 college savings plan</a>, funding a trust, or purchasing life insurance policies.Receiving an inheritance can be an overwhelming and daunting moment in your life. Take the time to do estate planning and encourage family members to do the same. It will ensure their legacy is mapped out in the best and most beneficial way possible for the loved ones they will leave behind.Want to share your inheritance story? Email Lauryn Haas at lhaas@businessinsider.com.

Inheritance can destroy a family or be a life-changing gift. Here's how I advise my clients as an estate-planning attorney.

<ul class="summary-list"><li>Major banks like Goldman Sachs walloped Wall Street expectations thanks to dealmaking fees.</li><li>Investment banking has made a comeback, and bigger bonuses are in the cards, too.</li></ul>Christmas came early for investment bankers.The biggest banks on Wall Street reported a huge boost in dealmaking fees this quarter after a two-year slump. Investment bank revenue surged 30% on average at <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-3q-results-dealmaking-trading-resurgence-david-solomon-2024-10">Goldman Sachs</a>, JPMorgan, Bank of America, Citigroup, and Morgan Stanley, according to Wells Fargo analyst Mike Mayo."We continue to believe we are in the early stages of a multiyear capital markets recovery," Morgan Stanley CFO Sharon Yeshaya said during an earnings call. Morgan Stanley's investment bank revenue surged 56% year over year to $1.46 billion, beating Wall Street expectations.Several tailwinds are at play, including tempering inflation and pent-up demand. Debt underwriting has surged as companies rushed to take advantage of <a target="_blank" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">interest rate cuts</a>, S&amp;P Global's Nathan Stovall told BI. After years of recession fears, there is more optimism the Federal Reserve can deliver a <a target="_blank" href="https://www.businessinsider.com/inflation-recession-outlook-prediction-labor-market-job-additions-interest-rates-2024-10">soft landing</a>, he said."You're seeing corporates get more comfortable with the world they're operating in, and they're willing to take more risks, and this leads to more M&amp;A activity, more equity raising, things like that," said Stovall, director of financial institutions research.An incoming flurry of dealmaking could reflect a broader economic recovery, as lower borrowing costs make it easier for companies to fund acquisitions. This past quarter saw several <a target="_blank" href="https://www.businessinsider.com/megamergers-deals-m-a-wall-street-comeback-2024-9">megamergers</a>, such as candy giant Mars buying the maker of Pringles for <a target="_blank" href="https://www.businessinsider.com/mars-buying-pringles-cheez-it-maker-kellanova-36-billion-deal-2024-8">nearly $36 billion</a>. Citi advised Mars and provided $29 billion in debt financing with JPMorgan. Paramount <a target="_blank" href="https://www.businessinsider.com/paramount-global-agrees-to-merge-with-skydance-shari-redstone-2024-7">agreed to merge</a> with David Ellison's Skydance Media. Bank of America is one of Skydance's advisors on the $8 billion deal.Wall Street CEOs, however, are cautious about their enormous wins. <a target="_blank" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">JPMorgan's Jamie Dimon </a>warned on an earnings call that the favorable interest rate conditions "may not prevail or be the ongoing conditions late next year" and of geopolitical turmoil that is "treacherous and getting worse." Goldman Sachs CEO David Solomon noted that while the bank had a healthy backlog, M&amp;A and equity activity is still well below 10-year averages.Risks to this comeback loom large, Mayo wrote in a research note."There's little question to us that activity and revenues reflect a degree of bull market banking," he wrote. "This could end based on potential results and reactions to the upcoming November elections, a stock market decline, and/or unexpected changes in rates (esp. higher)."Portfolio manager Cole Smead described the results as a "head fake." Smead is watching the US's ballooning deficit, concerned it could <a target="_blank" href="https://www.businessinsider.com/fixed-income-investing-tips-national-debt-yield-curve-steepening-treasury-2024-9">push up bond yields</a> and the cost of borrowing, which would discourage dealmaking."This can go on for maybe a quarter or two more, but it is likely going to fall apart long before it ever gets back to anywhere near the numbers of 2021," said the CEO of Smead Capital Management, which owns shares of Bank of America and JPMorgan. "Ultimately, this equity market, with many risks out there, is complacent and doesn't care. The problem is when the chickens come home to roost, this activity will go back to low levels again."<h2 id="d7f46fb6-2aae-4454-a462-5b0acb5aa3e8">The potential 'X-factor'</h2>While the risks are real, this quarter's upswing isn't necessarily a blip. For the five banks, Mayo estimated that capital markets revenue will grow 8% in 2025 to $31.7 billion and another 7% to $34 billion in 2026.There's also what Mayo calls "the X-factor": the $1 trillion-plus of dry powder held by private equity firms.Jon Gray, president and chief operating officer of private equity giant Blackstone, said that anecdotally, the number of confidentiality agreements more than doubled in September compared with a year ago."Now, that doesn't necessarily mean it's going to turn into that volume of deals. But it clearly shows you there is more enthusiasm," Gray said during the firm's earnings call Thursday. "And we know in the private equity world, there's a lot of companies that need to be sold, similar story in real estate."Finance professor David Stowell told BI that while the upcoming US election and overseas conflict pose economic risks, the sponsors can't sit on the sidelines indefinitely."They know that they always have to risk-adjust their investments," said Stowell, an investment banker for two decades before joining the Kellogg School of Management at Northwestern University. "They pretty much have to spend the money, or their kind of business goes away."Stovall acknowledged that one quarter doesn't make a trend but said that economic data, such as job creation numbers, points to a <a target="_blank" href="https://www.businessinsider.com/us-economy-outlook-data-points-to-soft-landing-no-recession-2024-9">soft landing</a>. This bodes well for dealmaking for the rest of the year and 2025."I'm cautiously optimistic," he said. "It is wise to not jump up and down and say things are going to go straight up from here, but I do think it's more encouraging than it's been for a while."For now, some Wall Streeters can already count on larger bonuses, according to compensation consultant Alan Johnson. With debt and equity capital markets thriving, underwriters will get the biggest gains. For debt and equity underwriters, he estimated bonus increases of 25% to 35% and 20% to 30%, respectively. M&amp;A bankers will have to wait longer for a significant boost and should expect maybe a 5% or 10% uptick this season."Traditionally, the sexiest area would be M&amp;A — the pipeline looks really good, but most of the closing fees would be for 2025," said the founder of Johnson Associates. "The headlines around M&amp;A are really going to be next year's story."

Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne 

<ul><li>Gold prices might see volatility in the short term based on changing expectations of the US Fed’s interest rate cuts.</li><li>Its long-term appeal as a safe haven asset remains unchanged due to rising geopolitical uncertainty.</li><li>Investors must make staggered investments into gold at these current prices, advise experts. </li></ul>The world is seeing ‘the great gold rush’! The yellow metal hit another new life high last week. Even as its prices hover around ₹67,000 per 10g — trading close to lifetime highs — analysts are not worried. They say that there is still juice left in the bullion to provide good returns for long-term investors. “We have a bullish outlook in gold for the calendar year 2024, we expect gold might touch $2,280 &amp; $2,350 in the international market, in rupee also it might touch around ₹68,500 to ₹70,000,” says <keyword id="20929844" type="General" weightage="20" keywordseo="rahul-kalantri" source="keywords">Rahul Kalantri</keyword> VP of commodities at Mehta Equities. Last week, gold prices rallied by 4%, aided by a fall in the US dollar and bond yields. Its sharp surge was unexpected and out of fist for many experts, and it could fluctuate in the near term based on changing the US Fed’s interest rate cut expectations. Yet, few doubt its long-term appeal. “While there will be fluctuation in the short term, gold has given solid returns for long-term investors. Due to the geopolitical situation and sentiment in the global economy, it will see good demand. Besides, there is no trigger that will put negative pressure on gold,” Hareesh V, head of commodities at Geojit Financial Services tells Business Insider India. Central banks, hedge funds &amp; more As many economies across the world face negative GDP growth, slowdown and more uncertainty, gold’s appeal as a safe haven asset has been growing. Central banks across the world bought a record 1081.9 tonnes in 2022 and 1037.4 tonnes in 2023, as per the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword>. Many classes of investors are betting on it. “Hedge funds also increased their long bet on gold at record levels. Record $11.3 billion flowed in the gold market after it broke its major resistance of $2,050 per troy ounce in the international markets,” said Rahul Kalantri. As per the Commodity Futures Trading Commission data, net long positions increased to 1,09,763 contracts, a whopping jump of 95% from last week. This indicates that they are betting on its long-term value creation. “The global gold exchange-traded funds (ETF) inflows which are negative so far, may contribute to large inflows into gold in coming months. In addition, geopolitical factors may keep risk premium higher in gold prices over the long term,” says Tapan Patel, fund manager – commodities, <keyword id="20929846" type="General" weightage="20" keywordseo="tata-asset-management" source="keywords">Tata Asset Management</keyword>. How should investors look at gold? Investors, however, must be ready to see volatility in the short term, caution experts. A relentless rally in any commodity entails several risks, at least in the short term. “The global market is uncertain about the time and quantum of the rate cuts from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>. The long-term price volatility may ease gradually once the US Fed starts the first pivot of the current rate cycle which will support gold prices to rally further as we have seen historically,” explains Tapan Patel. Experts advise investors to make staggered investments in the commodity. “One can invest in gold on a systematic basis, in small grammage preferably. Because in the long-term it’s a solid asset. It has almost doubled in the last five years,” says Hareesh. <keyword id="20929845" type="General" weightage="20" keywordseo="agrees-patel" source="keywords">Agrees Patel</keyword>, “Investors may increase gold exposure at least 8-10% of the portfolio in a staggered manner from the current price levels ahead of market uncertainty and high volatility. Gold provides value protection to the portfolio during market uncertainty.”

Gold rush to continue as experts expect prices to touch ₹70k/10g, staggered investment advised

<ul><li>Jewellers, like every year, have come up with offers to make <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> buying attractive on <keyword id="4067" type="General" weightage="20" keywordseo="dhanteras" source="Orion">Dhanteras</keyword>. </li><li>Experts say that if you are buying <keyword id="6354387" type="General" weightage="20" keywordseo="jewellery" source="Orion">jewellery</keyword> for personal consumption then it is a good time to buy. </li><li>However, if you are buying for the purpose of an <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>, there are other investment avenues. </li></ul>What’s more auspicious than gold, especially as we step into the festive season. Indians believe that the more gold you buy during Dhanteras, the better would be your fortunes. While experts are unsure of how good physical gold is for your portfolio, jewellers are doing their best to bring in consumers into their stores. Capitalising on the love for bling, and women who want to add to their jewellery box, retailers are wooing hard this season. Be it free 1 gm gold coins on purchases, or <keyword id="112217" type="General" weightage="20" keywordseo="discounts" source="Orion">discounts</keyword> in making charges — most jewellers want consumers to go for physical gold. “In addition to our collections, we are offering discounts to our valued customers. We are providing discounts on the making charges for gold jewellery. Our goal is to enable customers to make the most of this auspicious opportunity and get the best offers, particularly for the upcoming wedding season,” says Suvankar Sen, MD &amp; CEO of Senco Gold &amp; Diamonds. Tanishq is currently providing a discount of up to 20% on the making charges for gold jewellery. “Most of the jewellers, be it online or offline offer discounts on making charges to attract customers in the festive season. Some jewellers are offering various freebies, premiums over used gold and even a chance to design a unique piece of jewellery this Diwali,” says Sachin Kothari, director At Augmont Gold For All, an integrated gold player. Now, comes the question of gold as an investment. In spite of gold gaining ground as a safe haven asset in times of volatility and a new war, global gold demand in Q3 2023 dropped by six percent, on reduced interest in gold bars and coins, as well as diminished demand from central banks. As Diwali approaches, the price of gold is on the rise thanks to geopolitical tensions and the US Federal Reserve decision to hold on to high-interest rates. However, India, world's second-largest consumer of gold, is bucking the trend. There is an increase of 10% in gold demand in the same period. Globally, jewellery demand dipped by 1% on account of high gold prices. But here too, Indian jewellers hope that consumer love for gold demand will hold on. <cmsannotation type="cmsannotation" annotationid="Experts not keen on physical assets" comment="Subhead" text="Experts not keen on physical assets">Experts not keen on physical assets</cmsannotation> So, should consumers give in to the temptation of building physical gold assets amidst volatile prices and uncertainty? “Dhanteras is basically a time to make a purchase to grow your wealth. What you should do is an investment and not an expenditure. Jewellery is an expenditure. Making charges can be about 25% and further when you sell it you can lose another 10-15%. So it is not worth it,” says B Srinivasan, director and founder, Shree Sidvin Investment Advisors. Som if you are buying some jewellery for the sake of buying jewellery or as a gift, you can do it. With the various offers jewellers are providing it might be a good time to do that. But this will not serve the purpose of an investment. For those looking at an investment, there are better options than bangles, earrings or necklaces. “If you are buying for consumption then obviously physical gold has no other alternative but if your purpose is pure investment then the best is sovereign gold bond (SGB),” says Anant Ladha, founder, Invest Aaj For Kal, a financial advisory firm. There are three major advantages of SGBs. First, there is no making charges or risk of purity. Further one may get 2.5% additional interest over and above per annum. Though the interest is entirely taxable at current tax slabs, any capital gains earned at the end of eight years is entirely tax free. Investing in gold through digital gold platforms, gold Exchange-Traded Funds (ETFs), and gold mutual funds also offer flexible options to invest in gold. Digital gold allows for easy, small-scale investments, while Gold ETFs provide the convenience of stock market trading. Gold MFs, on the other hand, offer professional management of your gold investments. But then again, will it give the same satisfaction of it hanging on your neck as it will in the portfolio? That’s a call that consumers will have to take.

Jewellers woo consumers this Dhanteras but experts advise caution

<ul class="summary-list"><li>Angie Chen left investment banking to become a campaign marketer after feeling burned out.</li><li>She suggested tips for networking and revamping your résumé when switching industries.</li></ul>One year after starting her investment banking job, Angie Chen received her bonus. She then put in her two weeks notice."I used to feel so cool saying I worked in finance, in investment banking, I'm not going to lie," she told Business Insider.But Chen said that the status of a career in finance wasn't worth the grueling work. The highly coveted six-figure starting salary — and potentially millions if you successfully work your way up the banking ladder — is usually accompanied by <a target="_blank" class="" href="https://www.businessinsider.com/what-junior-bankers-think-of-goldman-sachs-jpmorgan-and-more-2022-12">long hours</a>. The typical 80 to 100-hour workweeks have caused some <a target="_blank" class="" href="https://www.businessinsider.com/11-junior-banker-quit-goldman-sachs-healthcare-team-burnout-bonuses-2022-8">junior bankers to complain about burnout</a> and exhaustion.Although she was aware of what a job on Wall Street entailed, Chen said that it became less tolerable for her after graduating from college."I think as I grew older, I just valued my free time, my independence, and just personal interest and passion a bit more than just grinding 24/7 for a corporate company," she said.Chen, who made content about her investment banking career on <a target="_blank" class="" href="https://www.tiktok.com/@angies_listt?_t=8qGwgqwCnfu&amp;_r=1">TikTok</a>, said that her social media inspired her to consider entering the marketing industry."I loved the creative freedom that I had from it," she said. "As I was thinking about transitioning out of banking, marketing was one of the roles that came up."Now a campaign marketer, Chen said that she has gotten several comments claiming she "downgraded" in her career, but they don't bother her — especially since she believes that many assume that marketing is a low-paying industry. But the field offers several positions that are more "analytical and data-driven" with higher pay, she told BI. While the pay for various marketing roles varies, the US Bureau of Labor Statistics estimates the average salary for marketing managers in the US to be $166,410.For those considering a career pivot of their own, Chen offered the following pointers.<h2 id="4ae17935-cd82-41f5-ac74-cfba62475a20">Figure out your pros and cons</h2>You might not be happy at your current job or company, but Chen said it takes time to understand why.She suggested making a list of reasons you don't like your current role but also the positive aspects of your company. Chen said it helps you visualize what you want in your next firm and narrow down your priorities when looking at different opportunities."For some people, it might be culture and team, but for others, it might be money and prestige," she said. "For me, the biggest one was exit opportunity, and the second was pay."Eventually, Chen narrowed her ideal positions to campaign management, growth marketing, and product management marketing — which she hopes to eventually work her way into."I thought it was a perfect blend of my interest in marketing, my analytical background, and my coverage of technology," she said. "It combines everything into one singular role."Chen also said she found the culture within marketing less overwhelming than that of banking, where she said she struggled to find a senior mentor."My current manager is very hands-on with my day-to-day," she said. "So there's a lot of chances to gain visibility and just showcase where you add value."Other experts have <a target="_blank" class="" href="https://www.businessinsider.com/how-to-plan-for-challenges-when-changing-careers-expert-advice-2022-9">also advised</a> breaking down whether you are being "pushed" out of your current profession because of something you don't like or if you're being "pulled" toward another opportunity. If something is pushing you out of your role, consider implementing certain changes, like switching teams, that can rectify your role.<h2 id="9db6504c-ee57-43dd-be8f-05953792f819">Network with 'warmer contacts'</h2>While cold messaging on LinkedIn is a common strategy, Chen suggested trying to obtain "warmer contacts," or contacts suggested by mutual connections."Definitely quality contacts over quantity," she said. "When I network, I don't like it to be super formal."Chen said that because she was fairly transparent to her banking coworkers about her interest in marketing, several of them offered their contacts in that industry."I was also just fortunate because I was sharing my career journey on social media," she said. "A lot of people had actually reached out to me to give advice and recommend roles or people to talk to."She also said that people should do their "own basic homework" and narrow down a few roles that they are potentially interested in before reaching out. Chen said during her research, she broke down the different sub-verticals within marketing and eliminated areas that she was not interested in."And then ask people why they chose this industry, what their long-term goals are, any advice they have," she said. "And if any of those resonate with you, that might be the field for you."<h2 id="17faadd2-efa1-4bc4-b40a-e20e5860b134">Revise your résumé</h2>Don't assume your résumé is ready just because it worked for you in your current industry.Chen said that when she presented her résumé to marketing professionals, several had "no idea what it was even talking about.""My résumé was very, very finance-heavy," she said. "I did have to revamp it completely to just make it less finance jargon and more marketing-friendly."Chen spoke with many marketing experts to "understand the way they speak" and familiarize herself with industry terms. Based on their feedback, she simplified her CV by removing any deals and finance-specific nuances and highlighting "transferable skills" that were applicable to both industries."Data and analytics were big ones since that's the direction that marketing is heading, and client relationship as well," she said. "Also presentation and project management skills."Career coaches <a target="_blank" class="" href="https://www.businessinsider.com/cant-get-job-what-to-never-always-include-resume-hiring-2024-10">have also advised</a> job seekers to keep their résumé specific but also include specific keywords tailored to their new industry.

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