If you’re a financial adviser, there’s nothing like securities-based loans to get clients to love you. Or to hate your guts when things don’t go as planned. I’m referring specifically to “non-purpose” credit secured by stocks, bonds, and other eligible assets. In...
A not-so-funny thing happened over the holidays. I was kicking around the Street, trying to understand the many ways financial advisers can deliver exceptional value to their clients. What I uncovered was a cautionary tale about the next bear market. Why this one,...
“I’ve saved my clients millions in estate taxes,” the financial adviser said. Over a few rounds of Christmas cheer, we were discussing the many ways traditional advisers help their clients. For the most part, we focused on estate planning (similar to...
“I’ve been working with some families over 20 years. And they don’t benchmark me against an index.” That’s what a star adviser, with nearly $1 billion under management, told me a few weeks ago. He was busting my chops, encouraging me to...
“What have I done?” That question haunted me after I moved from my old shop, a wirehouse, to the greener pastures of a new, fee-only advisory firm. I’d wake up in the middle of the night and handicap which clients would follow my team. The battle for assets was a war,...
IPO allocations are the pits if you are a financial adviser. You indicate a 50,000-share interest in the new offering. Then, on the day trading begins, you may get 100 shares and an ‘attaboy’ to spread around your clients. Painful. Because of experiences like...
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.