FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
Japan has a lot of problems (Charles Schwab)
Japan’s economy is struggling again — even though the country has pursued aggressive monetary policies and has reaped the benefits of lower oil.
“Japan faces significant headwinds to growth including: a rising currency, the slowdown in China, a declining workforce, and ineffective monetary policy,” writes Jeffrey Kleintop.
“Although Japanese stocks may see some relief if the yen stabilizes or reverses recent strength, we see the hefty headwinds offsetting the potential positives. Disappointment may be in store for those hoping for a sharp rebound in Japan’s economic growth this year,” he added.
Don’t do something just because Buffett did it (Advisor Perspectives)
Berkshire Hathaway owned $1 billion worth of Apple shares as of the end of the first quarter. A regulatory filing out Monday from the Warren Buffett-led company showed the stake totaled 9.81 million shares at the time.
However, “we believe that there are better options available than Apple at the moment,” wrote Eric Bush of GaveKal Capital. “The reason why we wouldn’t be quick to buy the dip in Apple is that the overall trend looks awful. There is really no other way to put it.”
5 common misconceptions about the DOL fiduciary rule (InvestmentNews)
Tom Corra, the executive vice president and chief operating officer at Fidelity Clearing & Custody Solutions, put together a list of misconceptions about the Department of Labour’s fiduciary rule.
Five common ones, he writes, are: 1) thinking you can continue business as usual, 2) thinking you can look to the DOL for direction on what to do, 3) thinking you can just use the BICE, 4) thinking you can just stay fee-only, and 5) thinking you can worry about this next year.
3 out of 4 Americans say they have financial regrets (Bankrate.com)
A new survey from Bankrate.com found that a staggering 75% of Americans say they have financial regrets. These respondents are most regretful about not saving enough for retirement (18%) and not saving enough for emergency expenses (13%).
“Inadequate savings looms large among Americans’ financial distress,” said Bankrate.com Chief Financial Analyst Greg McBride, CFA. “Whether it’s saving for emergencies or retirement, Americans’ biggest financial regret is not saving enough.”
A $100 million Merrill Lynch adviser jumps ship (Financial Planning)
Joseph Hubbell, an adviser who oversaw $100 million at Merrill Lynch, just left the firm to join Snowden Lane Partners. He will be merging his practice with that of two other former Merrill advisers. The team will rebrand as Veritas Private Wealth Group and oversee $370 million in client assets, reports Andrew Welsch.
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