William Hitchon’s Post

Has the thundering herd become a scurry of squirrels? Victoria Zhuang reports on Bank of America's wealth management earnings. With comments by Lindsay Hans and Eric Schimpf of Merrill Wealth Management. #financialplanning #wealthmanagement #financialadvisors #earnings #recruiting #markets #3q2023 #earnings #uhnw

Canada’s largest bank grew its profits by 6% last quarter. But a closer look shows problems at its wealth management unit, caused at least in part by an American bank RBC bought in 2015. With quotes from Dave McKay, CEO of RBC. #RBC #wealthmanagement #earnings #industrynews #financialadvisors #RBCWealthManagement

UBS, J.P. Morgan and Stifel Financial Corp. are among some of the world's largest banks expanding their wealth management services in South Florida. That's because the demand for comprehensive wealth services in the region has spiked-- with the wealth demographic shifting from what was once just retirees and trust fund heirs/heiresses to founders, CEOs and managing partners migrating to the region from high-tax states. These entrepreneurs need more than just a boutique wealth office to manage their stocks and bonds. They need an institution equipped to handle any of the major liquidity events that could transpire from their businesses and advisory services for an array of complex assets.

Washington Association of Money Managers (WAMM) is pleased to present an in-person program, “Asset Allocation Mix: Investing after the Year-End Rally” on Thursday, January 25, 2024. The reception will begin at 6:00 PM followed by the panel discussion at 6:30 PM. A balanced portfolio of #equities, #bonds, and #alternatives remains the best way for investors to preserve and grow wealth over time as it offers durable #returns, #diversification benefits, and dependable #growth. Still, #multiasset managers should stay dynamic in their #allocation calls given higher structural rates and heightened market #volatility. Adding #alpha through smaller, targeted positions rather than big asset allocation calls (e.g., overweight equities, underweight fixed income) could be the key to successfully navigating the #markets in 2024. While the recent rally in risk assets and the decline in U.S. #interestrates have eased the headwinds from a higher cost of capital, those pressures have not been eliminated. As a result, #riskmanagement is crucial, and investors should be looking out for it. Stay ahead of unexpected market turns as our all-star panel of seasoned industry experts walk us through their #marketexpectations for 2024 and beyond: - Katherine Molnar, CFA joined Fairfax County Retirement Systems in 2013 and currently serves as Chief Investment Officer of the Fairfax County Police Officers Retirement System, a $2 billion plan. Her responsibilities include all aspects of portfolio management and oversight, including strategic and tactical asset and risk allocation, selection, and supervision of external investment managers and risk management. - Nils Overdahl, CFA is a Principal and Senior Portfolio Manager at New Century Advisors, LLC, a $4 billion asset manager in Chevy Chase, Md. He joined New Century Advisors at its founding in 2002. Nils is a member of the firm’s Executive Committee, and he is responsible for New Century’s US TIPS and Global Inflation-linked Bond strategies, and he co-manages the firm’s Multi-Asset strategies. - Shawn Snyder, Executive Director, is a Global Market Strategist on J.P. Morgan Private Bank’s Global Investment Strategy Team. In this role, Shawn is responsible for delivering timely market and economic insights to J.P. Morgan’s Wealth Management clients. Please note that the Chatham House Rule applies – neither the comments of the speakers nor those of other participants are for attribution. Please register at https://lnkd.in/eeMn_pS7 no later than 6PM ET on Thursday, January 25th. The event is $0 for WAMM members, $55 for non-members, $0 for student members, and $25 for student non-members. Location: The National Press Club 529 14th Street NW 13th Floor, the Zenger Room Washington, DC 20045

Long term Goals #patiencepaysoff#Mutual Funds#@Crestview Consulting #Sapient Wealth# The Survey by Fidelity. The broker pored through accounts to see which investors had the best returns from 2003 to 2013. They noticed something odd about the two highest-performing groups: The account holder had died The account holder forgot they had an account Fidelity's analysis hammers home an important point: most times, the best thing you can do to improve your investment performance is nothing. Doing "nothing" might sound like dangerous advice, but history shows it's a sound investing strategy. Wars. Recessions. Pandemics. Terrorists attacks. Assassinations. The 20th century was filled with bad events. Yet history shows that investors who consistently resist the urge to fiddle with their portfolio -- even when their emotions are screaming at them to do otherwise -- dramatically tilt the odds of success in their favor. There aren't many endeavors where that's true, but investing is one of them. The next time the headlines look scary, remind yourself of the best-performing Fidelity accounts. It might make it a little bit easier to "do nothing."

The wealth management landscape is witnessing a significant transformation as former senior managers from Wells Fargo establish new ventures. Jack Ginter, former president of Wells Fargo's private bank, has rapidly built Callan Family Office, a registered investment advisor firm with $3.5 billion in client assets. Discover how industry veterans are shaping the future of wealth management. #WealthManagementTransformation https://hubs.la/Q01--NNz0 #Finance #IndustryInnovation #FinancialAdvice #FinancialServices

📣 Importance of Patience in Value Investing 📈 Hey there, fellow investors! 💼✨ I wanted to share a recent experience that highlights just how crucial patience can be in the world of investing. 🕰️ I recently sold put options on Credit Suisse in March, and unfortunately, the price took a dip and my options were assigned. It wasn't the outcome I had hoped for, and I ended up facing a loss. 😔 But here's where the story takes an interesting turn. Luck was on my side when UBS stepped in and acquired Credit Suisse. 🤝 This event alone didn't immediately turn things around for me, as I still found myself in the red. However, this is where patience truly showed its power. ⏳ Over time, the price of UBS started to climb. 📈 Gradually, my investment started to regain its value, and eventually, I managed to break even. The key lesson here is that investing is a journey that requires resilience and the ability to weather storms. 🌦️ To all my investor friends out there, I want to emphasize that investing isn't a smooth ride. Mistakes are a part of the game, but the important thing is not to panic. Instead, take a step back and reevaluate your decisions. Remember, investing is a long-term commitment that requires a steady hand. 🤲 So, here's to all of us who have stumbled along the way. Let's not be disheartened by temporary setbacks. 🚀 With patience and a strategic outlook, we can navigate the ups and downs of the market. Good luck on your investing journey, and may your portfolios flourish in the long run! 🌱🌟 #valueinvesting #creditsuisse #ubs

I participated in a thought-provoking Barclays panel discussion on the evolving regulatory landscape. During the panel, I discussed how policymakers are looking to shift the lines that define the alternative asset industry in two ways. First, regulators are attempting to redefine the line between private funds and mutual funds—looking to apply a retail-like regulatory regime to private funds. Second, policymakers are seeking to blur the line between banks and nonbanks– applying bank-like regulation to private funds, including oversight of private credit and limitations on leverage.  MFA is working to protect those two lines. We are engaging directly with regulators, Congress, and stakeholders to advocate for policies that support and protect alternative asset managers’ ability to raise capital, invest, and generate returns for their allocators, including pensions, foundations, and endowments. Thank you again to Barclays for hosting an important conversation on an issue that is so important to America’s economic competitiveness and capital markets.