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WSJ Wealth Adviser Briefing: Riding Momentum, Airplane Pile Up, Free Money

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WSJ Wealth Adviser Briefing: Riding Momentum, Airplane Pile Up, Free Money

Bill McManus, managing director and head of the Applied Insights Team at Hartford Funds Distributors, told Barron’s that the impact of COVID-19 is accelerating transformation in the financial professional industry, from the makeup of client bases to the way in which financial professionals communicate with those they serve. Many of the changes we’re seeing likely…

WSJ Wealth Adviser Briefing: Riding Momentum, Airplane Pile Up, Free Money

Bill McManus, managing director and head of the Applied Insights Team at Hartford Funds Distributors, told Barron’s that the impact of COVID-19 is accelerating transformation in the financial professional industry, from the makeup of client bases to the way in which financial professionals communicate with those they serve. Many of the changes we’re seeing likely will become norms, he said. As financial professionals work to identify new ways to demonstrate value and to engage with existing and new clients, McManus said they should be aware of three shifts he anticipated will remain in place after the pandemic.

Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.

CORONAVIRUS OUTLOOK

Coronavirus Pandemic Forces Businesses to Confront Cloud-Computing Costs: Companies are leaning on remote computing more than ever but also looking to manage those expenses more efficiently.

PLANNING & INVESTING

Investors Set Aside Coronavirus Worries, Driving a ‘Melt-Up’ in Markets: Stocks, bonds and commodities are heading for their strongest simultaneous four-month rise on record, highlighting the breadth of the market recovery during the 2020 economic slowdown.

MARKET TALK

From Dow Jones Newswires

Bitcoin is becoming increasingly regarded as a safe haven with the cryptocurrency rising in response to growing tensions between the U.S. and China, financial advisory firm deVere Group says. “Investors are flocking to safe-haven assets, in particular those not tied to any specific country, such as Bitcoin and gold,” deVere Group Chief Executive Nigel Green says after Bitcoin rose past $10,000 for the first time since early June on Monday. “Geopolitical issues, such as the U.S.-China spat, will prompt many savvy investors to increase exposure to decentralized, non-sovereign, secure digital currencies, including Bitcoin, to shield them from the turbulence taking place in traditional markets.” (renae.dyer@wsj.com)

Investors have injected more cash into euro-denominated high-yield mutual funds than withdrawn it so far this year, 17 weeks after steep outflows triggered by the coronavirus pandemic, ING’s Timothy Rahill says. Euro high-yield mutual funds penciled in inflows of 0.25% of assets under management last week, resulting in the year-to-date figure finally turning to inflows of 0.21% of AuM, he says. “This comes 17 weeks after the large outflows seen at the beginning of the crisis, of which 16 saw consistent inflows,” he says. This shows that investors were tepidly adding cash into high-yield, slowing the recovery in flows into the asset class.(lorena.ruibal@wsj.com; @lorena_rbal)

BUSINESS & PRACTICE

At Boeing and Airbus, Finished Airplanes Pile Up: Airlines are putting off jet deliveries amid coronavirus, depriving manufacturers and their suppliers of cash.

IMPACT INVESTING

Deutsche Bank to Pull the Plug on Coal Mining by 2025: The bank has decided to end its global business activities in coal mining by the end of 2025 as part of its new policy on activities involving oil, gas and coal around the world.

TALKING POINTS 

Beware the Lure of Free Money:  Investing is about storytelling, but the narrative now has turned out to be a tall tale in the past.

TRAVEL & LIFESTYLE

Pull Up a Park Bench: The Boss Will See You Now:  Starved for in-person interactions, companies arrange for socially distant gatherings outdoors, braving storms, wildlife and the occasional jackhammering.

ABOUT US

The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron’s, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery.

For more information about our services for financial professionals, please visit our website.

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