"No one picks their RIA because they've got extra fiduciary liability if they do something bad," said Michael Kitces, the longtime planner, writer and entrepreneur from Kitces.com, AdvicePay, the XY Planning Network and Focus Partners Wealth. "You pick your advisor because you think they're going to do something good and work with you effectively in the first place. To me, the growth of the RIA model has very little to do directly with the fiduciary obligation, per se, and it's simply, 'Look, there's one mo ...

Core Viewpoint - Joe Calhoun has extensive experience in the financial services industry, having worked in various roles since 1992, and founded Alhambra Investment Management to cater to individual investors' needs [1] Group 1: Professional Background - Joe Calhoun has held multiple positions including Operations Manager, Compliance Manager, Registered Representative, and Portfolio Manager [1] - He served as Director of Investments at Oppenheimer & Co. from 1997 to 2006 before founding Alhambra Investment Management [1] - Calhoun has obtained several securities licenses including Series 63 and 65, and has passed Series 7 and Series 9/10 exams [1] Group 2: Military Service - Joe Calhoun served in the U.S. Navy's nuclear submarine service for 8 years from 1983 to 1990 [1] - He received several commendations, including the Navy Achievement Medal in 1987 [1] Group 3: Education and Media Presence - He studied engineering at the University of South Carolina and graduated from the U.S. Navy's Nuclear Propulsion School [1] - Calhoun's market commentaries are widely published and he has appeared on CNBC and various radio programs [1] - He is also an editor for RealClearMarkets.com [1]

Business Strategy - A young UBS advisor built a $1 billion book with a high-touch client approach [1] Client Management - The advisor's approach emphasizes high-touch client service [1]

How This Young UBS Advisor Built A $1 Billion Book With A High-Touch Client Approach https://t.co/uqqxizcclj https://t.co/uqqxizcclj ...

Core Viewpoint - The article discusses the achievements, challenges, and future directions of the buy-side investment advisory business in China over the past five years, emphasizing the critical role of investment advisors in the aging financial landscape [1]. Group 1: Achievements and Practices - The buy-side investment advisory has significantly improved investor return experiences, with data showing that over 70% of clients from several advisory pilot institutions are profitable [3]. - The value of investment advisory is multidimensional, enhancing client returns, creating new job opportunities, reshaping industry sales dynamics, and reducing information asymmetry between buyers and sellers [3]. - Investment advisors must maintain a buy-side stance and cultivate a culture prioritizing client interests, which includes comprehensive market fund selection and establishing independent research teams [3][4]. Group 2: Role in Pension Finance - As China enters an aging society, the pension finance sector faces significant challenges and opportunities, necessitating the integration of investment advisors to enhance service precision [5][6]. - The introduction of investment advisors can transition the pension model from a corporate decision-making approach to a more personalized "individual choice + investment advisor" model, allowing for tailored pension investment plans [6]. Group 3: Trends and Challenges - The TAMP (Turnkey Asset Management Platform) has promising development prospects in China, providing an efficient platform for investment advisors [7]. - The shift from asset management to wealth management presents challenges for fund companies, requiring management to possess "patient capital" and long-term vision [7]. - Data collaboration poses another challenge, particularly in areas like anti-money laundering and sales suitability, necessitating effective utilization of client data [7].

Core Insights - The article discusses the investment landscape in the real estate sector, particularly focusing on the performance and potential of various real estate investment trusts (REITs) and housing-related companies [1][2]. Group 1: Company Insights - Hoya Capital Research & Index Innovations is affiliated with Hoya Capital Real Estate, which provides investment advisory services and focuses on publicly traded securities in the real estate industry [2]. - The commentary emphasizes that the information provided is for educational purposes and does not constitute investment advice [2][3]. Group 2: Industry Insights - The real estate industry is highlighted as having unique risks associated with investments in real estate companies and housing industry companies [2]. - The article notes that past performance of market data does not guarantee future results, indicating the volatile nature of the real estate market [3].