In an earlier blog, I wrote about the importance of having a formal investment plan or investment policy statement (IPS) and its role as a blueprint for financial success. But how should success be measured? Too often, clients compare the relative performance of their portfolios to a curious mix of reference points, often to their (and their advisors’) detriment. Ever hear something like this during a meeting with a client: The S&P 500 was up 10% last year, so why was my portfolio up only 6%? Frustrating, right? While we know the easy answer is that the client’s portfolio isn’t the S&P 500 Index, the question does raise a potentially more challenging point. What should clients use as a benchmark for success?
Kristin Collins, of Vanguard Financial Advisor Services, outlines some key differences between Generation X and Y investors and explains how advisors can adopt their messaging to most effectively connect with next-generation clients.
Silver Bay Realty Trust CEO David Miller discusses the effect of the shift from buyers to renters with Alix Steel on "Bloomberg Markets."
From the FT Business of Luxury Summit in Monaco, Andrea Morante, chief of Milanese jewelry group Pomellato, talks about how new technology is influencing manufacturers.