The exercise is also an opportunity for clients to acknowledge successes—powered by the strong market of recent years—in creating funding for their goals. As far as current investing opportunities, Rohr likes tax-free municipal bonds, where demand is outstripping supply for a variety of reasons. Rohr also has an eye on value stocks, which have been squeezed by growth stocks in recent years, and could bounce back.
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Rohr is a big fan of exchange-traded funds, which feature low fees and are more tax-efficient than most mutual funds. One couple had been wary of selling their concentrated stock position because of the tax implications. Meanwhile, their phone has been ringing off the hook with nonprofit organizations seeking contributions. Working with Rohr and other financial professionals, the couple wound up making a multiyear commitment with several charities. In one swoop, they minimized their concentrated stock position, allowing for greater portfolio diversification, and did so without triggering a significant capital gain.
Steven Grill Alex. An orthodox Jew, Grill starts each day with prayer and Talmudic study—a practice he says helps him counsel his wealthy clients. Grill, 59, spent his first 19 years in the financial industry focusing on matching assets and liabilities for pensions and insurance companies. He uses a similarly rigorous process to identify client goals, define their cost, and ensure that they will be adequately funded.
Grill grew up in Rockland County, just north of New York, and earned an undergraduate degree in mathematics and biology from Boston University. Now at Alex. To ensure that all of the goals will be funded, getting the asset allocation right is key. Last year, his team lowered its exposure to risk assets—the right move, Grill figures, even if they may have left some money on the table.
Critics of the traditional commission sales model have long argued it creates conflicts of interest that work against clients. An avid swimmer and backgammon player, Grill also supports multiple charities, including Keren Or, a Jerusalem-based program supporting blind children with multiple disabilities. Curtis, 61, has gleaned and reinforced that insight over a remarkably stable year career. He joined a local E. Hutton office in and then stayed put through a series of mergers and successor firms, the last of which is Morgan Stanley.
Curtis grabs a pen and a blank sheet of paper, and starts the conversation. On the investing front right now, Curtis is weighted to emerging markets more now than anytime in the past five to seven years. He has also been adding to global, go-anywhere bond managers, who can range across different types of fixed income in search of opportunity.
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Investors everywhere are wondering when the current bull market will end. For his part, Curtis believes it has got as much as a decade left to run. One reason: The global recovery that started in the U. More recently, governments have been providing fiscal stimulus, he says. Over five, seven, or 10 years, that should be extremely positive for equity markets, although, he predicts, those markets will see historic volatility.
Generally, Curtis believes market trends last longer than investors anticipate. The lesson, says Curtis, is that changing investments each year to capture coming trends could be a trap.
The New Advisor for Life: Become the Indispensable Financial Advisor to Affluent Families
His day starts with an hourlong workout in his home gym, and then another workout at the end of the day. Email: editors barrons. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.
Please enable cookies in your browser to get the full Trove experience. Skip to content Skip to search. Gresham, Stephen D. Physical Description xi, p. Published Hoboken, N.
The Value of a CPA Financial Advisor
Language English View all editions Prev Next edition 1 of 2. Author Gresham, Stephen D. Other Authors Gresham, Stephen D. Advisor for life. Edition 1. Financial planners. Investment advisors.
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Affluent consumers -- Finance, Personal. Summary "Expert advice on building an unshakable foundation as a financial advisor to the eliteThe revised and updated edition of the definitive guide to growing and maintaining a financial advice firm, The New Advisor for Life explores the fallout of the market crash on up-and-coming advisors.
With a particular focus on the generation X and Y concern with debt management and long-term investment, this new edition examines what young investors look for in an advisor.
Skip to main content. Gresham Hardback, About this product. About this product Product Information Expert advice on building an unshakable foundation as a financial advisor to the elite The revised and updated edition of the definitive guide to growing and maintaining a financial advice firm, The New Advisor for Life explores the fallout of the market crash on up-and-coming advisors. With a particular focus on the generation X and Y concern with debt management and long-term investment, this new edition examines what young investors look for in an advisor.
Today, more than ever, insight, analysis, and validation are valued, but to be truly successful, an advisor needs to walk the line between being well-informed but t appearing condescending. Additional Product Features Author s.