FINANCIAL ADVISOR INSIGHTS: Millennials don't think about retirement like their parents
Here's how to cater to millennials retirement needs (Think Advisor)
Think Advisor spoke to XY Planning Network co-founder Alan Moore about how to cater to millennials' retirement needs.
"It really requires a restructuring of the conversation. It's part cultural, part generational, part their age. They don't want to talk about working their tail off so one day they do not need to be working anymore," Moore said. According to Moore, millennials "don't trust the job market like our parents did; they know they're going to get laid off or try [new opportunities]; they saw their parents rely on a dual income and then kind of get screwed [when one spouse lost a job but still had to pay a mortgage]."
10 tips for building client trust (Financial Planning)
Nothing is more important than a client having trust in his financial advisor. Financial Planning gives these 10 tips for trust building: "Cultivate an attitude of curiosity; think out loud; listen deeply; write the clients' financial plan with them in the room; be yourself; sell by doing, not by telling; be of service, always; know that, when people are angry, it usually is not about you; quickly acknowledge the facts, however painful or costly; talk for no more than 120 seconds at a time."
McCulley leaves Pimco (Bloomberg)
Pimco's chief economist, Paul McCulley, will leave the firm on February 28. McCulley is just one of several high ranking officials that have stepped down following Bill Gross' exodus to Janus Capital Group in September. "My mission here is complete," McCulley said.
'Low volatility' ETFs attempt to provide stability (Reuters)
The recent volatility in the market has caused many investors to look for new ways to add stability to their portfolios. More than $2 billion have already found their way into low volatility ETFs this year with Reuters reporting, "inflows this year in the category are already more than in all of last year."
Investors must consider both yield and duration when considering high-yields bonds (Advisor Perspectives)
The US Federal Reserve is expected to move off the zero bound at some point. How do high-yield bonds perform during a period of rising interest rates? Heather Rupp of Advisor Shares notes, "In the 15 years that we have seen Treasury yield increases (rates rise) since 1980, the high yield bond market has posted an average return of 13.7% (or 10.4% if you exclude the massive performance in 2009). This compares to an average return of 4.5% (or 3.6% if you exclude 2009) for investment grade bonds over the same period."
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