Baby boomers are buying a lot of 2016's hottest investment product

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Baby boomers are buying a lot of 2016's hottest investment product (Bloomberg)

Low-volatility ETFs have surged over the past year, in part thanks to baby boomers' concerns about having enough money for retirement, reports Yakob Peterseil, citing Dan Draper, the head of Invesco PowerShares.

Draper told Bloomberg that baby boomers are living longer - so they want stocks to get some capital appreciation - but they're also worried about a 2008-type crash. And that together makes low-volatility options "extremely attractive," he explained.

Bank of America is hiring over 100 financial advisors to cater to the super rich (Reuters)

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In an effort to bulk up its wealth management revenue, Bank of America's US Trust is planning to add over 100 financial advisers who specifically focus on the über rich.

"The move is the latest indication that big banks are emphasizing wealth management as a strategy to grow revenue while putting relatively little capital at risk, and the number of financial advisers at US Trust is already at an all-time high," writes Dan Freed.

Wealth management is one of the least tech-literate sectors (FA Magazine)

London-based PricewaterhouseCoopers found that wealth management is one of the least "tech-literate" sectors within the financial services industry. At the same time, wealthy investors are accepting of new technologies.

"PwC argues that traditional wealth managers can only survive if they accelerate their efforts to adopt technologies that integrate every aspect of their activities and corporate culture, from the back office to client services," reports Christopher Robbins.

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The biggest issue associated with a Brexit (Advisor Perspectives)

"Potentially, the most pertinent issue is the risk that other countries would follow in the footsteps of the UK's decision to leave the EU," argues Mark Burgess of Columbia Threadneedle Investments. "Scotland's First Minister Nicola Sturgeon could rally the troops and have a "re-referendum" to untie Scotland from the UK and get back into Europe, though would the Europeans want to take on an economy so dependent upon oil when oil remains an unknown quantity?"

"Might we see Brexit alongside other populist parties gaining traction throughout Europe?" he continued. "Britain, some argue, could be seen as a safe haven amid a disintegrating Europe. This would encourage businesses to stay or indeed move across to the UK - Britain's parting blow to the EU. Surely then, the wisest move for the EU would be to make the process of Britain's exit as challenging as possible to deter others from following suit."

Raymond James just added 72 folks in Canada (Think Advisor)

Raymond James announced that its Canadian operation is buying 3Macs, an independent investment firm. This will add 72 advisors with approximately $5 billion of assets, reports Janet Levaux.

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