FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
The average retirement age has declined over the last 100 years (Bank of America Merrill Lynch)
In a recent note to clients, a BAML team led by Beijia Ma shared a chart comparing life expectancy at birth to the average retirement age, according to data from the Social Security Administration and the UN.
Notably, the average retirement age actually declined significantly in developed markets over the last 100 years.
“But even in developed countries, an increasing number of pre-retirees and retirees are continuing to work into older age because they are not financially prepared for retirement and others because they want to do so,” the team added, referencing the new trend of elderly workers delaying retirement.
Advisors should plan a succession plan in advance (FA Magazine)
Financial advisors shouldn’t wait until they retire to think about a succession plan. Rather, they should consider what will happen to their firm and their clients in advance.
“Time can be your friend (as you) bring in a younger person and mentor him or her,” Joe Maugeri, CFP Board director of corporate relations, told FA Magazine. “In that way, clients can make the transition. If clients are not comfortably transitioned within the firm when a principle retires, they may self-select someone outside the firm.”
Here’s how famous short seller Carson Block picks a takedown target (Business Insider)
Carson Block, the founder and head of Muddy Water Capital, talked to Business Insider’s Bob Bryan about his process of finding and researching his shorts.
“It’s a bit like solving a puzzle,” Block said. “You’re really trying to find the pieces and how they match together to make a clear picture of just what the company is doing.”
“If you look at a hedge fund that does a lot of short selling, the bar is pretty high in order to start a new short,” he continued. “When you’re doing activist short selling, the bar is a lot higher because you’re not only betting on the company going down, but you’re also trying to tell long investors that their thesis is wrong.”
UBS is joining forces with SigFig (Reuters)
UBS Group AG’s Americas wealth unit is joining forces with robo-adviser SigFig Wealth Management to create technology and investment tools, reports Olivia Oran.
“UBS has shifted its business model in recent years to focus more on wealth management, which is typically more stable than businesses like trading,” writes Oran. “UBS started exploring ways it could partner with financial technology companies under former UBS Americas Wealth Chief Executive Bob McCann, his successor Tom Naratil said in an interview.”
Tom W. O’Bryon II, a former UBS adviser managing $100 million in client assets, just joined Steward Partners in Bethesda, Md., reports Andrew Welsch.
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