Independent advisors power IMCA's certification programs Applications for the Investment Management Consultants Association's certification programs, the Certified Investment Management Analyst and Certified Private Wealth Advisor, are up 20% and 35% year-over-year respectively. The increase was driven by demand from independent advisors, according to IMCA CEO Sean Walters and IMCA board chair John Nersesian. Membership has also risen by 5%, they note. ThinkAdvisor (9/16) | IMCA announces speakers for 2015 annual conference The first announced speakers for the IMCA 2015 Annual Conference include a pioneer in spaceflight and innovation, the dean of one of the world's premier graduate business universities, and one of the country's most popular, and successful, professional poker players.
The annual conference is scheduled for April 26-29 at the Aria Resort in Las Vegas, and registration is now open. The first three announced speakers are:
Peter Diamandis, an international pioneer in the fields of innovation, incentive competitions, and commercial spaceflight. Named one of Popular Mechanics' "10 Innovators who Changed the World in 2013" and one of Fortune magazine's "World's 50 Greatest Leaders," he is best known for his work as chairman and chief executive officer of the X PRIZE Foundation.
Ilian Mihov, PhD, dean of INSEAD -- one of the world's leading and largest graduate business schools, with campuses in France, Singapore, and Abu Dhabi. He joined the INSEAD economics department in 1996 and has taught macroeconomics and econometrics in the MBA, EMBA, PhD, and executive education programs as well as in the Global Leadership Fellows Program of the World Economic Forum. In addition, he is currently a research fellow at the Center for Economic Policy Research, in London.
Annie Duke, one of the best known and most successful professional poker players in the world. She has leveraged her expertise in the science of smart decision making to excel at pursuits as varied as public speaking, teaching, philanthropy, and parenting. She has shared her knowledge through a series of best-selling poker instruction and theory books, Decide to Play Great Poker and The Middle Zone: Mastering the Most Difficult Hands in Hold'em Poker. Call for papers IMCA's Journal of Investment Consulting is accepting papers for publishing consideration from academics and qualified practitioners on alternative investments, asset allocation, behavioral finance, currency management, extreme value theory and modeling tail risk, investment due diligence, manager search and selection, monolithic and flash trading, performance measurement, portfolio construction, regime-switching models, risk management, retirement planning, small-cap investing, stress-testing investment portfolios, and wealth management. Submitted papers are reviewed by a distinguished editorial advisory board consisting of acknowledged authorities and leaders in the fields of investment consulting, investment management, capital markets, fiduciary practice, wealth management, and financial planning. Papers will be selected for publication via double-blind review based on relevancy, content, and proof of thought. View more information. Other News - For a full list of upcoming conferences and events, visit our website. To sponsor our upcoming Winter Institute on Dec. 8-9 in Phoenix, Ariz., contact Lara Davies.
| | |  | | Product announcements appearing in SmartBrief are paid advertisements and do not reflect actual IMCA endorsements. The news reported in SmartBrief does not necessarily reflect the official position of IMCA. |
| Are hedge fund management fees still too high? Management fees, even though they are declining on average are too high and are generally not aligned with performance, according to analysis by Unigestion Holding. The solution, it says, is to stop charging a management fee or somehow link it to a hurdle rate that a fund must achieve before it can collect various fees. Bloomberg (9/11) Why CalPERS decided to divest its hedge fund allocation The California Public Employees' Retirement System has decided to divest its entire $4 billion allocation in hedge funds, a portfolio that includes 24 hedge funds and six hedge funds-of-funds. The reason: The allocation was not large enough to provide cost-effective diversification. The decision was not related to performance. Bloomberg (9/16) Inflation will swamp low bond returns through 2021, exec says Jonathan Mackay of Morgan Stanley Wealth Management is warning investors that it could be seven years before losses in bonds end. Mackay is predicting that bonds will give positive returns of 1% or 2% each year through 2021, but inflation will convert them into losses. That compares with annual returns of 8.7% for the 30 years ended 2012. Bloomberg (9/3) Using Social Security file-and-suspend as a planning strategy Financial blogger Michael Kitces writes about how individuals can use the Social Security file-and-suspend strategy, under which they can effectively reverse their decision to delay and retroactively claim benefits, as a financial planning strategy. Kitces addresses questions that planners encounter when trying to apply the strategy and looks at hypothetical examples of clients who elected to file and suspend, then changed their minds. Nerd's Eye View blog (9/10) | | Industry Updates & Trends | Advisory firms face few cyberbreaches, study finds Investment advisory firms registered with states report few breaches in computer system security, but exposure to hacking is high and policies and training are available to fewer than half the firms surveyed, state securities regulators said Wednesday. Website breaches and hackers impersonating clients via e-mail were cited in a study by the North American Securities Administrators Association. Reuters (9/10) Investors are becoming more risk-averse, advisors say Fifty-two percent of advisors say clients have made investment decisions driven by anxiety in the past year, compared with 57% who reported this in 2013, according to a Hartford Funds advisor survey. Thirty-five percent of advisors expect their clients' risk aversion to grow over the next year, which is more than the 17% of advisors who last year expected risk aversion to grow. ThinkAdvisor (9/10) With portability options, formulaic estate planning is a thing of the past After the American Taxpayer Relief Act of 2012 made permanent the portability election for a spousal estate tax exclusion along with an annually increasing exclusion amount, formula-based estate planning approaches became largely obsolete. Planners can take advantage of a more flexible approach, such as implementing a residuary bequest to a surviving spouse along with a family trust to be funded if and to the extent the surviving spouse makes a qualified disclaimer, according to one estate planning expert. Planners can also employ a qualified terminable interest property election. WealthManagement.com (U.S.) (9/10) | The benefits of a virtual office Christopher Lion of Barnett Financial says moving to a virtual office has allowed him to focus on the core business of providing person-to-person service to clients. He avoids the performance reviews, turnover and other issues that come along with hiring employees, but he warns that relying on outside vendors for some functions requires clear communication. Financial-Planning.com (9/11) | | Regulatory & Legislative Spotlight | Most advisors working on cybersecurity, SEC examiners find Securities and Exchange Commission examiners have found that most investment advisors and brokers are taking action to cope with potential vulnerability to cyberattacks. Most of the financial firms reviewed perform periodic risk assessments, have adopted written security policies and conduct inventories of their electronic hardware, software and data, said Jane Jarcho, national associate director of the SEC's investment advisor and investment company examination program. InvestmentNews (free registration) (9/16) |  | Don't aim for success if you want it; just do what you love and believe in, and it will come naturally." -- David Frost, British journalist | | | Based in Denver, Investment Management Consultants Association ® (IMCA ®) was established in 1985 to deliver the premier investment consulting and wealth management credentials and world-class educational offerings—membership, conferences, research, and publications. The cornerstone of IMCA ® is the Certified Investment Management Analyst ® (CIMA ®) certification, the only advanced certification designed specifically for investment consultants. IMCA ® also delivers the advanced credential for wealth management professionals working with high-net-worth clients, the Certified Private Wealth Advisor ® (CPWA ®) certification. Visit www.IMCA.org for more information. IMCA ® and Investment Management Consultants Association ® are registered trademarks of Investment Management Consultants Association Inc. CIMA ®, Certified Investment Management Analyst ®, CIMC ®, CPWA ®, and Certified Private Wealth Advisor ® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law. | Phone: (303) 770-3377 Fax: (303) 770-1812 5619 DTC Parkway Suite 500 Greenwood Village, CO 80111 info@imca.org | | | | Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.
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