Wealth Think

I have a lot of pet peeves but one of my biggest is how we, as a profession, tend to define other professionals by one number: their assets under management.

When business development professionals come aboard and start bringing new clients into the fold, don’t let them down with processes that fall short.

Celebrity heirs fighting over the estate is far from uncommon but it is unusual when an ugly court battle starts before the celebrity even dies. That certainly has been the case with the Dennis Hopper estate.

Financial advisors who position themselves well by be being frequently seen in the public eye -- either in print, on TV, on the radio or writing online columns likes this one -- can build the perception that they're professionals who can be trusted.

No, it can’t be. Has the 15-year saga started by Anna Nicole Smith, as she tried to get money from the estate of her deceased husband, really come to an end?

The old saying ‘sell in May and go away’ does not apply to daily investing life anymore, and many advisors know the reasons why.

Everyone knows that publicity is wonderful when you can get it. But far too many advisors think there is some sort of magic needed to get their name in print or to be interviewed on television or radio.

To me, the most interesting event of the year, so far in the financial planning space, is the Schwab organization's new Independent Branch Services initiative. The gist of it is that Schwab's retail division is looking for experienced advisors to come in and transform their practices into Schwab branch offices on a franchise basis.

Like they’ve done with every stage of their lives, the Baby Boomers are changing what it means to be retired. But unlike other stages where leading edge boomers set the path that middle and second-half boomers followed, retirement is likely to be transformed throughout the boomer generation in such a way that second-half boomers and the generations that follow will experience a very different retirement than their leading edge siblings.

Leona Helmsley, widely regarded as the “Queen of Mean” before she died at age 87 in 2007, left behind a fortune valued by some to be worth $40 to $80 billion. She earmarked twelve million dollars to take care of her dog, Trouble, until the Judge reduced it to a paltry $2 million.