Salient to Investors: MetLife cut its adviser force by a third, eliminating 2,500 jobs as the company scales back variable annuity sales and turns to other nations for growth. MetLife has 5,000 advisers who sell insurance and investment products, down from 7,500 in February of 2012. Danny Sarch at Leitner
READ MORE... →Salient to Investors: Cerulli Associates says: The total head count of advisors fell 4,000 in 2011, and will fall to 297,515 by the end of 2016, from 316,109 at the end of 2011. Independent broker-dealers and the wirehouses will see the biggest decline – 18,000 by the end of 2016. The aging
READ MORE... →Salient to Investors: Mark Hulbert writes: The small number of advisers who outperform the market rarely keep doing so, so choosing a recent market beater does not increase your odds of future success. Of the 51 advisers out of more than 200 tracked who beat the Wilshire 5000 Total Market
READ MORE... →Salient to Investors: More investors are pursuing a modified DIY approach, using increasingly sophisticated online tools and a-la-carte advice services offered by financial firms. Surveys suggest between one-third and two-thirds of boomers manage their own investments. Ed Tracy at Deloitte Consulting said many investors were massively disillusioned by the perceived
READ MORE... →Salient to Investors: Studies suggest that investors who use advisers get better returns than individuals going at it alone. Advisers usually have confidence and discipline that are key factors in successful investing. Most people do not have the time or interest in managing their own portfolios. Individual investors can be
READ MORE... →Salient to Investors: Luke Sims at Eagle Capital Growth Fund said Warren Buffett is trying to build up his stock pickers Combs and Weschler to show he hired the right money managers to succeed him. Buffett book author Jeff Matthews said the 2012 performance by Combs and Weschler was extraordinary but wants to see
READ MORE... →Salient to Investors: Suze Orman says: There is nothing more important in your life than financial independence Every state has a statute of limitations after which creditors cannot chase you – for example 6 years in New York. Collectors often accelerate calling just before the statute of limitations is up. If you promise
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