After four years of remarkably calm markets we are finally experiencing meaningful market turbulence. In that period of relative calm, robos have blossomed from an interesting idea into a potential threat to the status quo for advisers. One of the most common perspectives I hear is that a declining market will reveal the underlying weakness…
I have written at length about the changing landscape created by robo-advisers and mega direct-to- consumer brands like the fund companies, banks and custodians. And while I don’t have a crystal ball, I think the acquisition of eMoney by Fidelity — for a rumored $250 million — might be a real canary in the coal…
Secrets of the super wealthy: Long-term greedy versus short-term greedy Even if you aren’t a fan of his music, how can you not be impressed by Andre “Dr. Dre” Young, the intrepid rapper and impresario who helped build and sell the headphone and music streaming service Beats Electronics to Apple recently? The company Jimmy Lovine…
Attack of the Killer Robo Advisers: Man Versus Machine Countless books and movies have been written about the point at which computers shift from being our friend to becoming the enemy. For financial advisers, the battle lines are being drawn right now. Over our entire careers computers have helped us elevate the services we provide…
There are good books that make you think differently about the world, and occasionally great books that really make you question the underpinnings of what you think reality is. I believe the new Michael Lewis book, “Flash Boys,” falls into the latter camp. Lewis’ new book might be his most audacious, scary and infuriating work.…
Market turbulence—none of us like it. Our clients’ deplore it and our employees can be frustrated with calls when it happens. But just like everything in this world, there may be a positive in the midst of the negativity. The truth is, most of our clients think we earn our money when we are making…
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