Granted, I don’t have far to go … but I’m making the trek across Puget Sound on a ferry to join more than 2000 financial planning professionals in Seattle for the Financial Planning Association Annual Conference. I’ll arrive Saturday morning, Sept. 21, and stay through Sunday, September 22.
If you’re at the Conference catch CMG Capital Management Group CEO Steve Blumenthal in a panel discussion. Steve joins Robert Smith, from Sage Advisory, and Morningstar moderator David Sekera on Friday, Sept. 19, 9:40 a.m. – 10:30 a.m. for Breakout Session 5, Managed Portfolios. Facing the Fed-induced Headwinds.Follow the Conference on Twitter: #MStarETFUS
Morningstar has a new coverage area called ETF Managed Portfolios (660 strategies from 151 firms). Morningstar coverage includes CMG Opportunistic All Asset ETF Strategy and CMG Tactical Rotation Strategy.
Advisor demand for ETF managed portfolios continues to grow at a steady rate. At 8%, growth in the first quarter of 2014 equaled the average quarterly growth rate seen in 2013. Through March, strategies in Morningstar’s database collectively held $103 billion, representing a 40% increase versus March 2013.
Related: InvestmentNews: Financial advisers don’t make the most of ETFs, survey finds. Lack of time to learn the complexities leads to lack of confidence.
More financial advisors are choosing to build investment portfolios with ETFs rather than mutual funds. Why? What are the advantages of an all-ETF portfolio? Ron DeLegge, Chief Portfolio Strategist @ ETFguide talks with one LPL financial advisor about how he uses ETFs. Investors take note! Video below.
At InfluenceAdvisor we like to share blog posts from around the web that can help financial advisors build their practice. We like the Practically Speaking blog because it offers exactly what it says … “common sense ideas to grow your advisory business.”
The latest post from John Anderson at Practically Speaking is At Your (Client) Service: 4 Essentials to Build Brand Loyalty . The essence of any service business – you’re in service to the client. You’re there to help. You’re there to understand their particular situation and it’s your job to offer a solution that works for them. If you operate from that basic, core belief then you can build loyalty, over time. It takes time, many ‘touchpoints’ to build loyalty.
Download SEI’s Four Essentials of Loyalty-Building Client Service toolkit and you’ll have the information you need to help you:
1. Avoid faulty assumptions
2. Commit to workflow processes
3. Improve the frequency and intelligence of your client touches
4. Make client review meetings impactful
See the InfluenceAdvisor Resources page for research, surveys, tutorials, White Papers and web links about marketing, social media, practice management and other issues that impact financial advisors. Suggest a resource: email@example.com. Sign up for the InfluenceAdvisor Weekly News Digest and sign up for updates to Practically Speaking. Support the financial advisor blogosphere.
#ColumboSays: I was one click away from starting a LinkedIn Group when instinct pulled me back and I thought … wait a minute. Considering how fickle social media is, the time involved in managing a group, and the potential payoff, is this really worth it? I pondered …
I belong to Linked University and I’m learning and applying a lot of what they propose for success on LinkedIn. Josh and the crew are entrepreneurs and teachers, and their guidance is enormously helpful.
Beside videos, and live calls ins and workbooks, etc, they offer a service to start, manage, and prospect with your own LinkedIn Group. They do it all. It sounds appealing but I’m stuck. If they write content for you, then content becomes purely a marketing ploy that is not rooted in belief, intelligence, or value. What’s the SEO quotient of content like that? How does that increase your stature? I had the same problem with HootSuite curating and posting content for you. Isn’t this about engagement and adding value to the conversation?
I pondered 3 reasons NOT to start a LinkedIn group …
1. You don’t own it.
LinkedIn constantly changes it offerings and practices. You can invest a lot on “Products and Services” pages and have them yank it away in favor of “Showcase” pages. It’s their rules, their playground. If groups is becoming a commodity marketing play, is its value decreasing correspondingly? Yes.
2. It’s a huge amount of time
A ridiculous amount of time. Do you have that time? No. That’s why you pay Linked University and others to do it for you.
3. Really, what can you say?
Most, if not all, groups seem to degenerate into forums for people who want to contribute for a perceived benefit on LinkedIn. How many groups actually give you insight you couldn’t find elsewhere, and how much self-promotional muddle does it take to get there?
What’s the alternative?
#ColumboSays How about a Word Press blog. Nothing beats it. Google loves it. You own it. Play by your rules. Create your own network of prospects. There’s really nothing to ponder. Otherwise, find a few good groups and contribute there. Become a presence by adding value. Otherwise, contact InfluenceAdvisor and they’ll do it for you.
It’s a thorny issue all advisors face. What to say to the client when the portfolio, and investment plan you agreed on, doesn’t surpass or match a broad benchmark like the Dow or S&P 500? Steve Blumenthal, CEO of CMG Capital Management Group, writes in the Wall Street Journal Wealth Adviser (subscription required) about this delicate topic, and how to use the opportunity to educate clients about long-term investment strategy. Writes Steve:
Ex-New York City Mayor Michael Bloomberg will return to Bloomberg L.P. as CEO of the company he founded in 1981. In recent weeks he’s been spending more and more time at the Bloomberg headquarters, the Bloomberg Tower at 731 Lexington (see below). It was agreed that current CEO Dan Doctoroff would retire at the end of the year and Mike (as he’s generally called) would take over the top spot. How do I know this? I read it in The New York Times, not in Bloomberg, which has had an ongoing policy of not writing about its boss while he was Mayor.
Okay, I’m going to date myself. I remember when Bloomberg was a new invention, on par with CNN (we called it Chicken Noodle Network). We’d squire clients to Bloomberg and Mike would be there pacing the halls like a manic entrepreneur. The story of Bloomberg is legendary. Mike took his $10 million severance from Solomon Brothers and launched Bloomberg to get valuable, real-time information to Traders and Wall Street. Merrill Lynch bought the first 22 Bloomberg terminals. Today there are 315,000 Bloomberg terminals out there, at about $20K annual fee each. Michael Bloomberg has a net worth of approximately $33 billion.
The Bloomberg Tower was completed in 2004. Paul Goldberger, in the Aug. 6, 2007, issue of New Yorker magazine, lauded the Bloomberg offices as “a newsroom truly designed for the electronic age … a dazzling work environment tucked inside a refined but conventional skyscraper.”
Clients are amazed when they first visit Bloomberg. What’s it like inside? Take a fun tour in the video below.
Steve Blumenthal, CEO of CMG Capital Management Group published a timely article in Financial Advisor IQ today. Steve argues for an upgrade on Modern Portfolio Theory to Enhanced Modern Portfolio Theory.
“We strongly believe that tactical strategies should be a central component in any modern portfolio,” says Steve. Read the rest of the story: It’s Time to Enhance Modern Portfolio Theory
CMG Capital Management Group is a Registered Investment Advisor (RIA) that provides other RIAs, financial planners, and institutions with managed accounts, mutual funds and variable annuities. Steve Blumenthal founded CMG Capital Management Group, Inc. in 1992 and has been responsible for the company’s growth, development and performance since its inception.
Kristi Ross, president of financial media network tastytrade, discusses how her company is targeting younger crowds through a free mobile app, dough, which allows users to get news and information and to make trades on the go. See How technology is connecting younger investors to the markets in Blue Sky Innovation.
Inside ETFs is the world’s largest ETF Conference. It’s going on now, until tomorrow, in Hollywood, Florida. Generally, it sounds like a love fest within an industry that is exploding. The ETF revolution is just getting started. It’s a 1.7 trillion industry now, set to grow to to 15.5 trillion. Tax advantages of ETFs are superior to mutual funds due to structure. People tend to pile out of mutual funds in December and into ETFs that same month. It’s a tax-driven strategy to avoid year end mutual funds tax distributions.
Tactical investing is about planning to accomplish a purpose, says Steve Blumenthal, CEO of CMG Capital Management Group during a recent interview on theStreet.
“We speak and work with hundreds of financial advisors,” Steve tells Gregg Greenberg in theStreet’s Wall Street studio. He explains CMG’s tactical investing strategies, and the framework of the CMG Global Equity Fund (GEFAX). You certainly want to have long equity exposure, but you want to hedge in these uncertain times, says Steve. “Japanese Yen still a clear short,” Steve says, and he mentions a Pro Shares ETF that can used to accomplish that strategy.