Morning Memo
Wealth Management Morning Memo

JUNE 18, 2018

HIGH NET WORTH

Global Wealth Increased Again in 2017

Where do the greatest opportunities for advisors lie?

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INDUSTRY

For RIAs, Revenue is Up, But Fees and Profits Are Falling

TDAI’s annual FA Insight study shows advisors that are focused on younger clients, and more specific client niches, are doing better, but few firms are charging enough for their services.

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SPONSORED CONTENT

Ready to Implement a Digital Advice Strategy?

BEFORE you do, learn the 8 critical elements you need to consider to enhance digital engagement and your client journey. 

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ALTERNATIVE INVESTMENTS

Advisors' Alts Preferences Lean Toward Private Equity, Away From Hedge Funds

It's a matter of transparency and access: advisors to high net worth clients want to be able to provide their clients with new opportunities, but are cautious of the pitfalls surrounding alternative investments.

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The Daily Brief

Jeff Bezos Is Almost Ready to Give Away His Money

About a year ago, Amazon founder Jeff Bezos – the richest man in the world – tweeted that he was seeking suggestions for how to use his money to make a philanthropic (and immediate) impact. Last week, he tweeted that he's "settled on two areas" and will announce what they are by the end of the summer ...

Long Island FA Charged in $5 Million Fraud
A financial advisor from Syosset, New York, has been arrested and charged with stealing more than $5 million from at least 14 clients, including ones who are elderly and/or deceased, Patch.com is reporting. Matthew Eckstein's victims were mostly senior citizens living across Long Island as well as Jupiter, Fla.; Redlands, Calif.; and Norwalk, Conn. ...

SEC Reaffirms Stance On Cryptos
In case SEC Chairman Jay Clayton wasn't clear enough, William Hinman, the head of the agency's corporate finance division, said that Ethereum and Bitcoin are not securities, reported CryptoSlate. The cryptocurrency market reacted favorably the the announcement as the decision will determine how much regulatory oversight the currencies get. ...

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