Wealth Management
The pandemic kept a lot of us cooped up and changed the battleground for the future of productivity, but there has been little doubt of how it has impacted the world of literature. There has been a huge outpour of high quality books the last two years that some attribute to the isolation of that era. Here are the best books of 2024 so far:
Non Fiction: The C.I.A.
- In his new book, Wilford examines how the United States, particularly through the C.I.A., sought to control global politics after World War II, often engaging in covert actions in newly independent states of the Global South, illustrating the paradox of anti-imperialism empowering covert U.S. influence during decolonization.
Fiction: The Ministry of Time
- Kaliane Bradley examines a Cambodian English minder in a near-future Britain grapples with falling in love with her charge, a nineteenth-century Royal Navy commander, while uncovering the mysteries of a government program that uses time travel to retrieve people from history, exploring themes of mortality and grief.
Wild Card: The Light Eaters
- Zoë Schlanger explores the burgeoning field of plant intelligence, detailing how plants sense, communicate, and respond to their environment, while also focusing on the scientists behind these discoveries and the transformative shifts occurring within botany.
Finsum: These books offer wonderful conversations for potential clients and can be a bridge to new ideas.
Fint Invest is the latest digital platform offering model portfolios tailored to retail investors, built around investment themes being developed by IronMarket Wealth. Fint Invest allows users to choose portfolios focused on climate change, disruptive technologies, or eSports, with risk levels determined by Oxford Risk’s assessment.
Managed by IronMarket Wealth, these portfolios come with an annual fee of 1%, covering all associated costs. Co-founders of Algo-Chain and IronMarket Wealth's Wes Wilkes lead the investment committee, aiming to help the next generation invest more effectively.
The app's portfolios, fully invested in ETFs, provide cost-effective and efficient options for thematic investing. Co-founders Curtis and AJ Pritchard, famous from Love Island and Strictly Come Dancing, are spearheading the marketing efforts to engage younger investors through educational initiatives with universities and schools.
Finsum: Celebrity pairing is interesting and could bring a new generation of investors particularly with these themes at their core.
Pakistan and Kenya have made some of the quickest economic turnarounds in recent memory for emerging market economies and as a result investors are buying up their bonds rapidly. This is part of a larger trend as previously neglected debts from countries like Egypt, Pakistan, Nigeria, and Kenya are now appealing again, driven by interest rate hikes and currency market liberalizations.
With falling interest rates in mature markets, these relatively higher yields are enticing. In Turkey, high interest rates have drawn investors back, and Egypt's debt has seen significant foreign investment, supported by currency devaluation and free-floating exchange rates. Investors view these reforms as promising, despite risks such as volatility and potential capital controls.
Potentially prolonged high US interest rates could challenge these markets, particularly for countries with high debt interest payments. Nonetheless, some investors still find local currency bonds more attractive than dollar-denominated debt, seeing the current situation as the beginning of more gains.
Finsum: It might not be too late to chase the yield curve in some of these emerging market economies.
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Deferred annuity sales increased by nearly 19% in the first quarter compared to the same period last year, according to Wink, Inc. This surge sets the stage for annuities to potentially exceed $400 billion in sales this year.
Sheryl Moore, CEO of Wink, attributes this growth to the upcoming fiduciary rule implementation on September 23, which is driving a "fire-sale mentality" among producers and carriers. The new Retirement Security Rule will extend the Department of Labor's fiduciary duty to most annuity sales.
Total first-quarter annuity sales, including immediate and deferred income annuities, reached $105.7 billion, with notable performers like Athene USA leading deferred annuity sales. Wink also noted strong performance in various annuity types, with record sales in indexed and structured annuities, indicating robust market activity ahead of regulatory changes.
Finsum: This spike could be sustained by falling interest rates that increase annuity demand.
In 2024, the Michelin Guide saw new additions including ten Bib Gourmands, four Green Stars, and six One Stars in the Golden state alone. This year, California continues to impress with fifteen new entries. LA County features standout spots such as Manohar’s Delhi Palace for North Indian cuisine and Elf Cafe for Mediterranean fare.
Cedro Italian Restaurant in Newbury Park offers authentic handmade pastas, while SoCal’s taco scene welcomes Lola Gaspar. But it’s not just the West Coast that is popping with starts, New York which already boasts over 300 Michelin Guide restaurants has some new additions.
Thai food fans will find themselves delighted by a family inspired restaurant Bangkok Super Club from Chef Max Wittawat. Meanwhile Barrio is a newly added Puerto Rican restraint featuring vibrant colors to match its delicious meals.
Finsum: The Michelin Guide hosts a variety of restaurants to impress clients across the culinary spectrum.
For financial advisors specializing in high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients, partnering with an experienced firm is essential. Trying to cater to both general and niche clients can dilute an advisor's effectiveness.
Vance Barse, founder of Your Dedicated Fiduciary®, exemplifies how leveraging a seasoned partner can enhance client service. With over a decade of experience advising HNW clients, Barse emphasizes the importance of addressing both financial and family dynamics in legacy planning.
Comprehensive analyses of clients' financial situations and legacy goals, providing independent reports without requiring asset consolidation can help draw HNW clients. This consultative approach offers tailored, sophisticated strategies while maintaining a high level of personal service.
Finsum: Technology can also bridge the gap to give advisors time to personalize their clients experience helping draw in HNW clients.