How to land professional athletes as clients

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Kenny Powers on the mound.

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Advice for winning athletes as clients (Investment News)

While many advisors try to land professional athletes as clients only a few are successful. Investment News says there are four steps advisors should take to improve their chances of scoring athletes as clients. First, make sure you have a strong understanding of the business side of sports. Next, Investment News says to make sure your staff is proactive and can solve problems on the fly. Also, be sure your staffers have a high level of emotional intelligence and know what times are appropriate to contact the athlete. Investment News gives the example its probably not the best time to reach out if he struck out four times the night before. Finally, you must have a spotless compliance record.

Albert Edwards says the Fed should hike rates (Business Insider)

Societe Generale's strategist Albert Edwards is known for his 'ice age' thesis, which suggests a deflationary wave of "lower lows and lower highs for nominal economic quantities." However, in his new note, Edwards says if there is one thing worse than deflation its a credit-fueled economic bubble. "[E]ven those like me who see a deflationary bust awaiting think the Fed should hike next week - because the longer you leave it, the bigger the financial market excesses become, and the bigger the risk of financial dislocation and global recession ensuing," Edwards said.

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Millennial investors are different (Wealth Management)

It's no secret millennials have a different view of investing than their parents. According to Wealth Management, there are six key ways millennials investment styles are different than their parents. 1) Millennials expect lower returns. 2) The majority of millennials have specific financial goals. 3) Millennials are more willing to use strategies other than 'long only.' 4) Just more than one-third of millennials think stocks will be the top returning asset class over the next year. 5) Millennials are bigger risk takers. 6) Millennials have aspirations of retiring early. More than half think its possible to be retired by 60.

Radio show host charged for overinflating her firm's assets (Financial Advisor)

The Securities and Exchange Commission has charged Dawn Bennett and her firm, Bennett Financial Group Services, with lying about the amount of assets under management and the size of the firm's returns. The SEC accuses Bennett of misstating her firm's assets under management by at least $1.5 billion on her radio show. According to Financial Advisor, Bennett says the accusations are false and she plans to defend herself and her firm. "The SEC's 'broken windows' policy means the small guys are being prosecuted and it is sad," Bennett told Financial Advisor.

UBS picks up advisors (Think Advisor)

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UBS has scooped up a team of advisors from both JP Morgan and Morgan Stanley. The team of Alli McCartney, Miguel Hennessy, David Wardrop and Jordan Mahaffey exits JP Morgan with $5 billion AUM while James Lipari's team leaves Morgan Stanley with $230 million AUM.