Weekend Reading for Financial Advisers: Taxes, Situational ...

It?s no secret that financial advisers who want to succeed need to understand a range of complex subjects ? not just investing but also tax and estate planning, retirement planning, and philanthropy, to name but a few. With that in mind, here are some compelling reads from the past week for the well-rounded adviser.

Tax and Estate Planning

Behavioral Finance and Lie Detection

• Bob Seawright had a fascinating blog post about a controversial 9/11 photo and how it relates to behavioral biases. (Above the Market blog)
• See also ?5 Ways to Avoid Natural Reactions that Prevent You from Making Good Decisions,? which looks at five ?notorious social biases? and discusses ?ways that you can recognize and react when your brain is trying to pull a fast one on you.? (Buffer)
• My colleague and fellow content director Jason Voss, CFA notes that in finance, the ability to root out the truth is critical, ?from analysts reading between the lines of a chief executive?s comments to private wealth managers trying to understand their clients? actual financial motives.? And yet detecting lies remains very hard. In this article, he explains why it?s so tricky. (Financial Times)
• Barry Ritholz had an interesting piece on ?situation awareness? and the tendency, of late, for equity traders, bond managers and prop desks to go ?full on wonkasaurus,? especially when it comes to the Fed and ?helicopter Ben,? while forgetting ?their job is to manage risk and seek opportunity.? (The Big Picture)

Retirement Planning

The Industry

Philanthropy

• John ?Jack? Bogle, founder of Vanguard Group, has a net worth ?somewhere in the low eight figures.? So what exactly does he do with his money ??and what advice does he have for the rest of us? Reuters sat down with him to find out. (Reuters)

And now for something completely different:

For more news and trends, visit the?Private Wealth Management Community of Practice.

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Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

Source: http://blogs.cfainstitute.org/investor/2012/09/15/private-wealth-roundup-taxes-behavioral-biases-and-giving-back/

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