Network Hubs Bring Advisory Business Together
Sites such as Annuity 123 and Join A Firm are creating new ways for professionals, clients and advisory firms to connect. Annuity123.com provides Annuity Harmony listings for investors seeking the most compatible area advisors. The service is free for consumers, while advisors pay a fee. Joinafirm.com, on the other hand, allows independent advisors and wealth management firms to recruit together. Advisors looking to join a firm can register and create a free personal profile on the site. Firms must pay a listing fee.
Fidelity Introduces New Bond Funds
Fidelity Investments has launched two new bond funds: the Global Bond Fund and the Fidelity International Bond Fund. Both are offered directly to investors through advisors in an attempt to grow their global fixed income investment management offerings. Fidelity has $1.6 trillion in managed assets and $3.5 trillion under administration.
More Hopeful About Retirement
Sexual and gender minorities who are not retired reported a rising confidence in their retirement savings over workers who are not lesbian, gay, bisexual or transgender, according to a recent Wells Fargo survey. Sixty-one percent of LGBT pre-retirees believe they will have enough saved by their retirement to live comfortably, versus 53% of other pre-retirees.
Ranks of Ultra-Wealthy Seen Growing
Ultra-high-net-worth households are expected to grow about 8% a year over the next five years, according to a new Boston Consulting Group study.
The 8% projected growth for those households, which hold more than $100 million in assets, comes as groups below $1 million are expected to grow at a 3% annual rate.
The report outlined the challenges facing international private wealth, which rose 1.9% last year to $122.8 trillion, versus 6.8% growth in 2010 and 9.6% in 2009.