The world's best wealth advisers for the ultrarich share their secrets for success

Dear Readers,

If you’ve been following our investing coverage, you’ve hopefully enjoyed our exhaustive coverage of the commentary espoused by Wall Street’s greatest investment managers and strategists. We recently broadened that universe to include wealth advisors for the ultrarich – and we’ve already landed some big names.

Marley Jay spoke to Jeff Erdmann of Merrill Lynch’s private banking and investing group, who’s been ranked by Forbes as the nation’s best wealth manager for three years in a row. He also chatted with Peter Mallouk, who – with $US39 billion under management – is America’s largest advisor to the ultrawealthy. As it turned out, both of them agreed on one retirement-investing mistake most people make.

Beyond that, we spoke to Rebecca Rothstein of RVR Group – the highest-ranked female wealth manager on the Forbes list – about a crucial shift she recently made to her investing approach. We also asked Brian Pfiefler of Morgan Stanley – the No. 2 wealth advisor in the US last year – why he rarely makes stock trades.

Going beyond this new initiative, the Investing team at Business Insider has also analysing ongoing market trends and talking to other figures of authority:

The research chief at the world’s largest hedge fund unpacks a market that’s suddenly opening up to US investors – and why the gold rush is a once-in-a-lifetime opportunity

Karen Karniol-Tambour, the head of investment research at Bridgewater Associates, discusses the opening of the Chinese market, which has created an opportunity that “essentially didn’t exist” for US investors previously.

“If you believe in diversification, you’re not going to get a lot of opportunities where such a large market opens up,” Karniol-Tambour told Business Insider’s Akin Oyedele in a recent interview.


People frustrated with their taxes are piling a record amount of money into an exempt investment that looks unstoppable. Here’s how you can get involved.

The 2017 Tax Cuts and Jobs Act put a limit on the amount of state and local tax payments that Americans can deduct, which got investors hunting for ways to lower their taxes. The Wells Fargo Investment Institute finds that they have turned to municipal bonds.

The firm says a record $US23 billion had flowed into muni bond funds this year, more than investors put into the space in all of 2018, and that he expected demand to keep growing.


Even the world’s top firms pay Rob Arnott for advice. He explains why a $US1 trillion investing industry is built on a flawed premise – and why that’s hurting retirement savings.

Rob Arnott, the founder and chairman of the Pimco subadviser Research Affiliates LLC, is a man whose expertise is so respected that multiple large firms licence his investment ideas.

In an exclusive interview with Business Insider, Arnott explained why he thinks target-date funds – a wildly popular way to invest for retirement – are a far worse option than many think.


Other good stories from the investing realm:

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.