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AK Advisory Partners is a consultancy to the financial services industry,
providing advice and training to firms and individuals operating in the fee-based,
investment management and wealth management areas.
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Our ability to add value to your business rests on three core competencies:

* Knowledge & Experience

* Independence & Objectivity

* Client-Focused Solutions

 


Unlocking Real Value Newsletter - December 2016


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  Andy Klausner is a contributor to Forbes' Advisor Network.
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I Wish Everyone Happy Holidays and a Prosperous and Healthy 2017. 
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2016 was quite an interesting year, including a larger November surprise than most of us - probably even the President-Elect himself - could have ever imagined. And 2017 is shaping up to be just as if not more interesting; see the link to my Top 10 predictions for the coming year below.

The post-election period has so far been surprising as well. The many predictions - including my own - that the stock market would have an immediate and negative reaction to a Trump victory never materialized. In fact, quite the opposite has occurred as the market has rallied. Why?

To begin, Trump's acceptance speech was more inclusive and conciliatory than many believed that it would be. In addition, the Cabinet that he has assembled seems to be very pro-business (and by extension pro-economic growth). There is also optimism that taxes will be cut next year and that a relatively large infrastructure bill will be passed.

However - and this is very important - Trump continue to undermine himself with inappropriate tweets and what some would call un-Presidential behavior. Remember the old adage that it's hard to teach an old dog new tricks.

The new normal is that a very unconventional person will now be running the country. There will successes and there will be failures - but it will always be interesting.

The reality for the stock market is that there will be higher highs and lower lows - in other words, expect high levels of volatility as people react to President Trump's actions.

As always, however, help clients to focus on their long-term goals and objectives, and adjust portfolios as necessary. Timing the market doesn't work and neither does panicking. Prepare clients for the volatility and the fun and games. 
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Top 10 Predictions for 2017
What will the new year bring? While your guess is probably as good as mine, it's a fun exercise to write down some predictions. Click here to see my complete Top 10 predictions for 2017, and click here to see how I did with my predictions for this year.

While my predictions cover everything from politics to foreign policy to sports, there are some directed at the financial services industry. Specifically:

The Fiduciary Rule will not be repealed but there likely be changes made to the law throughout the year, somewhat softening the law before its final implementation in January of 2018. There will be increasing talk of repealing Glass-Steagall, but nothing definitive will happen in 2017.

Active management will regain some momentum in its on-going public relations battle with passive management. ETF growth will slow, and I give a 50% chance of some kind of flash crash caused by ETF trading. M&A among B/Ds and money managers will be slightly above average, and the overall movement of advisors and RIAs will be below average because of uncertainty over the Trump Presidency. 

From Our Library ...
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