Here’s my thesis: Just as Amazon turned publishing upside down, an online competitor will do the same thing to financial advisers. To explore that, I visited several wealth management websites. Robo-advisers charge from zero to 50 basis points, depending on...
If wealth advisers are so committed to “preservation of capital,” why don’t we spend more time protecting our clients from financial predators and teaching them security techniques? Hackers, identity thieves and con men threaten portfolios every bit...
The big banks' wealth management units had a terrific year in 2013. Money in fee accounts ballooned as the S&P 500 rose nearly 30%. Profits ballooned, too. It was all over the news this month as earnings reports came out, and that transparency is a good thing....
Last week I took a cue from Clint Eastwood and talked shop with an empty chair. Here's how that conversation went. (And yes, as with the Pale Rider, you only get to hear my side). — It's January. Time for us to sit down and discuss our partnership. No, I...
The Federal Bureau of Investigation arrested Bernie Madoff on Dec. 11, 2008. His guilty plea and 150-year prison sentence were almost non-events, at least compared with the finger-pointing, lawsuits and trials that have ensued. They turned the Ponzi scheme into a gift...
"Clients are always right." I wish. Sometimes, it pays to send them packing. It's a question of when to do it and how. "You're fired," may work on reality television, but it's a bad choice of language for wealth managers. Word gets...
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.