Spring tends to brings predictable changes, like warmer temperatures and blossoming flowers. But this spring seems to entail its fair share of unpredictable events as well. With a new administration in Washington, D.C., moving to loosen regulation, what will happen to the now-postponed Department of Labor fiduciary rule?
How many more firms will roll out robo advisors? How low will trading prices go?
What will happen to health care?
In this quarter’s issue, Lane Strumlauf of UBS
explains the wirehouse’s view of how to best protect
clients’ interests, while Tash Elwyn of Raymond
James discusses the future of advisors and technology. Michael Finke, head of the American College
of Financial Services, gets to the root of portfolio
planning and advice in his examination of evidence-based investing, and columnist Bob Seawright weighs
in on this topic as well (with a lighthearted take).
We are pleased to announce that columnist Marshall Jaffe, who looks at the mind-numbing topic
of cybersecurity in this issue, has been recognized
as a finalist in the 2017 Jesse H. Neal Awards for
editorial excellence in blog/commentary writing. He follows Seawright, who was
a finalist in 2016. The winners are being announced March 31.
Speaking of March 31, that’s the day when anxious parents of high school seniors (like me) find out if their children have been given coveted slots in many institutions of higher learning. As I’ve gotten closer to the reality of having two male
children in college, my appreciation for both the value of financial planning and
the critical role of advisors has been renewed.
Recently, Warren Buffett repeated his view that active managers tend to generate fees but not necessarily the best value for investors. He is a big fan of Jack
Bogle and Vanguard for the firm’s low-cost index funds.
While certainly a valuable perspective, it’s worth pointing out that many people — myself included — benefit from active support. It’s easy to point to performance returns as the
measure of an advisor, but it’s far more difficult to put a figure on their other contributions.
This “extra performance” is one of the reasons we feature what advisors are doing to give back to the community each quarter. As Glen Macdonald of U.S. Trust
exemplifies in this issue’s profile: Values and mission play a central role in wealth
allocation and investing.
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