California wealth manager Jon Porter is not fazed by Apple’s recent stock woes. Porter, a former Apple employee himself, says Tim Cook is the best CEO to lead the company to success in the current market. Porter points to areas like autonomous driving, original content and payments as potentially big future businesses for Apple. As Apple plunged 30% late last year against a slew of bad headlines about China and iPhone demand, some of Jon Porter’s clients had concerns. Porter is the CEO of Three Bell Capital, a Los Altos, California firm that manages more than $US1 billion for clients, mostly people in San Francisco, and that means people who work in technology. Some of his clients were heavily invested in Apple, either from equity grants from years of working there, or as technology-focused investors looking for blue-chip stocks. Porter is a former Apple employee too, and based on his experience inside the company and following the stock, he sent an email to his … [Read more...] about As Apple’s stock plunged, a billion-dollar wealth manager sent an email saying not to freak out. Here’s why he thinks the tech titan is set to explode higher.
PUBLISHED: 10:53 28 January 2019 | UPDATED: 10:53 28 January 2019 David Vincent Fiducia Wealth Management achieves corporate Chartered Financial Planner status Fiducia advisors Daniel Kern, Susie Laws, Gordon Kearney (managing director), Lauren Peters, Josh Gupta and Michael MacLeod. Picture: MEDIA MANAGERS Archant An Essex wealth management company is celebrating having achieved the corporate Chartered Financial Planners status. Fiducia Wealth Management has been awarded the prestigious accolade, which is the pinnacle of academic training within the financial services industry.Handed out by the Chartered Insurance Institute (CII), the status reflects Fiducia’s commitment to further raising standards of knowledge and professionalism.Gordon Kearney managing director of Fiducia said: “We are very proud to join a select group of firms to achieve this status.“It has come from hard work by so many colleagues but also underlines both everything … [Read more...] about Wealth management firms joins a select few
By Lisa Beilfuss WSJ Thu., Jan. 17, 2019 Bank of America Corp.’s wealth-management business did what its Wall Street rivals couldn’t during a wild fourth quarter: It grew its revenue. For the parent of Merrill Lynch and U.S. Trust, wealth-management revenue rose 7% to $4.99 billion from a year earlier. That is as violent stock-market swings at the end of 2018 hurt other brokerage firms, diminishing client account balances and generating lower fees for personal-financial advice. Wealth-management head Andy Sieg said the result represents the highest quarterly revenue since Bank of America bought Merrill Lynch a decade ago. While client balances at Merrill Lynch shrunk as markets fell, Mr. Sieg said brokers have been recruiting clients and gathering new assets more aggressively because of pay changes that the firm introduced two years ago. Those changes make Merrill’s compensation structure more aggressive than some rivals’, rewarding growth … [Read more...] about Bank of America’s Wealth-Management Business Bucks Trend
(Reuters) - Morgan Stanley’s (MS.N) profit fell short of analyst expectations as trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down more than 5 percent. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson The bank has pledged that its expansion into wealth management over the past decade would help deliver more stable results. But the unit was not immune from year-end market volatility, which drove customers to the sidelines. Morgan Stanley also noted the impact of changes to compensation that addressed what Chief Executive Officer James Gorman called a “very aggressive” deferral program. Gorman said that Morgan Stanley had been “mortgaging (its) future” by delaying payouts. On a call with analysts, Gorman characterized the fourth quarter as a temporary, if disappointing, blip. “2018 was a great year that … [Read more...] about Volatile market hits Morgan Stanley’s trading, wealth management
Manhattan West Asset Management is one of the most diverse funds in the wealth management sector, existing in a world that is overwhelmingly white and male-dominated. The firm is made up of high character, highly-educated financial advisers with incredible backgrounds that previously reflect leadership roles at Morgan Stanley and JP Morgan among others. It currently has four African American employees, three of which are executive directors, two Latino American partners, and seven women who also hold an ownership stake in the company. Although extremely impressive, this is not the norm. Stats that include this type of makeup are extremely low. According to the Center for Financial Planning Board (CFP), less than 3.5% of all the 80,000 certified financial planners in the United States are black or Latino. So what is going on? BLACK ENTERPRISE caught up with executive Justin McCurdy to find out what got him involved in wealth management and the importance of African … [Read more...] about The Importance of African American Wealth Management Advisers