If all a wealth manager does is keep longevity and inflation risk in check for a client, the manager is covering important bases.
Berent even had one client, a female manager who had survived ovarian cancer, say she would rather go back to chemotherapy than speak in front of a group.
We made some adjustments to her marketing and networking, and a few weeks later, she got an offer to be the main relationship manager for a financial services client of a digital strategy firm.
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Clients can bypass the big names and hire consultancies such as Eden McCallum, a British firm that packages teams of experienced independent consultants, or Point B, an American firm that provides only a project manager, letting the client select the team.
"The cutting edge of wealth-transfer planning is mostly being done for entrepreneurs, " says Stephen Kenney, director of client strategies for Pell Rudman, a private wealth manager in Boston.
The general rule under the federal and state securities laws is that a fiduciary, the money manager, cannot use client assets for his own benefit or the benefit of other clients.
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The lawyer of disgraced money manager Bernie Madoff told a judge that his client should receive 12 years in prison, calling it a sufficient punishment for one of the largest frauds in U.S. history.
When performance is good, funds are reluctant to terminate a manager that has been problematic in other areas such as client servicing.
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Two years before its 2003 launch (as the iTunes Music Store), Apple introduced the iTunes client as a desktop music management program and implemented it as the device manager for the first iPod later in 2001.
There's a shortage of senior accountants right now, and the recession has actually provided a chance for them to revive client relationships, believes Mark Koziel, senior manager of firm practice management at the American Institute of Certified Public Accountants.
If you're a manager, you know how important it is to make sure the client is always pleased with the service or product you're selling.
No additional income would be generated for what the manager earned from the weighted elements of the index would simply become a monetary transfer to the client.
Once the matter has become the subject of a confidentiality agreement, the money manager will usually withhold it from regulators and law enforcement pursuant to the attorney-client privilege.
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