FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
Here’s what wealthy investors say their biggest mistake is (FA Magazine)
A survey from Zurich-based deVere Group found that wealthy investors think failing to diversify their portfolios is their biggest investing mistake, reports Christopher Robbins.
“It is surprising how many people fail to do this,” the firm’s CEO, Nigel Green, said. “Having a well-diversified portfolio across asset classes, sectors and regions means you are best placed to mitigate risks and best placed to take advantage of important opportunities.”
The investors named other big mistakes, including not investing earlier, focusing too much on the short-term, and being too emotional with their investments.
The UBS robo deal is a game changer (Financial Planning)
The UBS robo deal is a game changer because it “legitimises” the discussion about robo advice in wealth management, argues Bill Winterberg, founder of FPPad.com. He added that it pressures other firms to also zero-in on their digital strategies.
“The attention is away from the disruptors,” Winterberg said. “Our attention is now focused on the industry incumbents. We’re talking about BlackRock, LPL, Pershing and UBS. We are not talking about VC-funded robo startups anymore.”
The force that’s reshaping the global economy has big implications for the US dollar (The BlackRock Blog)
“Today’s profound technological changes are transforming various industries and sectors, and they hold a massive influence on cash flow dynamics at every level of the economy,” wrote BlackRock’s Rick Rieder in an exclusive contributor post for Business Insider.
“Further, many of these changes are not adequately reflected in traditional economic measures, so they are underappreciated by many in financial circles. Yet we think investment success in the decade ahead will largely rest on a sophisticated understanding of how secular changes such as these are unfolding.”
Goldman Sachs just downgraded stocks all over the world (Business Insider)
Goldman Sachs isn’t loving stocks so much these days. Business Insider’s Akin Oyedele reports that the firm downgraded equities to “Neutral” over the next year in a note to clients on Tuesday.
“Until we see sustained earnings growth, equities do not look attractive, especially on a risk-adjusted basis,” wrote Christian Mueller-Glissmann, an equity strategist.
Billionaire hedge fund manager George Soros is betting big against the S&P. Katy Barnato reports that in the first quarter, Soros Fund Management owned a put option of 2.1 million shares on the SPDR S&P 500 exchange-traded fund (ETF), which tracks the benchmark U.S. index.
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