Business, Free News Articles

Andrew Crofton Joins Klingenstein Fields Wealth Advisors as a Managing Director

NEW YORK, N.Y. -- Klingenstein Fields Wealth Advisors (KFWA), a wealth management firm with approximately $4 billion in assets under management, is pleased to announce that Andrew Crofton has joined the firm as a Managing Director.

In this role, Mr. Crofton will be responsible for advising high-net-worth and institutional clients on a range of wealth, planning and investment management issues, as well as overseeing the growth of the firm's client base.

Mr. Crofton joins the firm from BNY Mellon where he was a Senior Wealth Director advising high-net-worth individuals and families, helping them address complex planning and investment management needs. Prior to that, he held a similar role at U.S. Trust.

Mr. Crofton began his career in institutional fixed income and equity sales and trading. He earned a B.A. in Economics from the University of Pennsylvania.

"Andy's significant experience in serving high-net-worth and institutional clients' investment management needs, combined with his institutional securities trading background, gives him a unique perspective that will strongly benefit our clients," said Kenneth D. Pollinger, CEO and Co-Chairman of KFWA. "We look forward to his involvement and the customized guidance that he will provide to our clients."

More information: https://www.klingenstein.com/.

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Business, Free News Articles, Funding and Investment, Reports and Studies, Software

MPI REPORT: Wide Range of Private Market Fund Returns Could Explain Ivy Endowments’ Lackluster Fiscal 2019 Performance

SUMMIT, N.J. -- Markov Processes International (MPI), a leading provider of investment research, analysis and reporting solutions for the global wealth and asset management industry, today announced the publication of its annual Ivy League endowment performance analysis for the latest fiscal year, "Measuring the Ivy 2019: Decoding the Performance Gap."

The report shows that the average Ivy endowment return for FY 2019 was just 6.7%, significantly underperforming a reference 60-40 domestic portfolio. Between the best performing Brown at 12.4% and Columbia at 3.8%, Ivies also experienced the second widest dispersion of returns in the past decade and saw a shift in the historical positioning of performance leaders (e.g., Yale and Princeton) and laggards (e.g., Harvard and Brown).

MPI uses endowments' annual return data and returns-based techniques to decode what may have happened in FY 2019 and suggests endowments' private market investments were the likely root of the year's anomalous results. MPI points to the fact that in a typical year the range of potential outcomes of private market investments is two- to three-times greater on both the upside and the downside versus a universe of U.S. equity mutual funds. Such dispersion in private market returns could explain both the lackluster returns of most Ivies as well as the wide range of results in FY 2019.

Report co-author Megan Woods, CFA, Director of Quantitative Research at MPI, said, "Even in the absence of considerable allocations to U.S. public equities and bonds, both of which had a solid year, the seeming inability of elite endowments' large exposures to private markets to push portfolio returns beyond their middling figures in fiscal 2019 is noteworthy and tells of the challenges in getting PE and VC investing consistently right. The range of outcomes of PE funds makes it very difficult to underestimate the risk in private equity relative to just looking at average returns shown by an index. In many years, more than 25% of funds have negative returns, even though the index may register a positive return in the double digits. We hope our report helps the many investors who are seeking to evolve the measurement of the performance and risk of their private market investment portfolios."

Michael Markov, MPI CEO and report co-author, stated, "This report offers a cautionary tale. Investors, both institutional and retail, are seeking greater access to the private market opportunity set - however, even the most sophisticated investors with access to elite managers aren't immune from potential performance downturns and can suffer in a year that was, on average, good for private markets. At a time when the amount of dry powder waiting to invest in richly valued markets sits near historic levels, it could be wise for investors to scrutinize private markets deals, managers and portfolios with renewed diligence using the latest quantitative tools."

For more information about the report or MPI's solutions, please email info@markovprocesses.com or call +1 908 608 1558.

About MPI
Markov Processes International (MPI) is a leading independent provider of quantitative investment research, technology, analytics and indices for the global investment management industry. MPI's flagship Stylus solutions are used by hundreds of firms to make smarter investment research, portfolio construction and optimization, performance analysis, risk surveillance, distribution and reporting decisions. MPI Stylus can be delivered as a desktop, enterprise-hosted or cloud-deployed solution. MPI's Enterprise Solutions team also offers customized configuration and implementation services to meet your organization's specific needs.

Follow us on Twitter @MarkovMPI, connect with us on LinkedIn and read the latest MPI research at https://www.markovprocesses.com/category/blog/.

Learn more at: https://www.markovprocesses.com/

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Business, Free News Articles

Fairport Wealth Announces 2020 Community Beacon Recipient

CLEVELAND, Ohio -- Fairport Wealth is pleased to announce its support of Shoes and Clothes for Kids (SC4K) as its 2020 Community Beacon recipient. For 50 years, SC4K has been removing barriers to school attendance by providing essential school supplies such as school shoes and uniforms for kids in need. Its efforts help reduce chronic absenteeism and improve self-esteem, school attendance and graduation rates, and directly align with Fairport's mission to inspire families.

Terry Uhl, Executive Director of SC4K says, "We are thrilled to have a chance to be the next Fairport Community Beacon. We know the impact Fairport had at Merrick House, last year's Community Beacon, and we look forward to building upon that to continue to help the kids in Cleveland who need our help most."

How SC4K Helps Children Succeed

When students don't have access to the appropriate clothing or supplies necessary for school it's a barrier to attendance. SC4K wants to establish a community in which all children have access to the basic supplies they need to become engaged learners and succeed.

Fairport's Commitment to the Children

In addition to financial support, Fairport Wealth will team up to collect items to support SC4K programs, provide mentorship support and serve as title sponsor for their 50th Anniversary culmination celebration this year. Fairport team members will also volunteer onsite and conduct workshops to help empower teachers with the skills needed to teach students about financial responsibility.

"Fairport Wealth stands firmly committed to SC4K and we look forward to being a visible presence as the organization moves into its next 50 years," says Kristen Lucas, Fairport Wealth Chief Marketing Officer.

Past Fairport Community Beacon Recipients:
* Merrick House
* YWCA Greater Cleveland
* Cleveland Museum of Natural History
* The First Tee of Cleveland
* The Rock and Roll Hall of Fame and Museum
* The Cleveland Foundation
* Jewish Federation of Cleveland
* Cleveland Go Red for Women/American Heart Association
* Benjamin Rose Institute on Aging

About Fairport Wealth

Fairport Wealth inspires families by providing comprehensive wealth management solutions to high net worth individuals. Our team of credentialed professionals, including CPAs, CFP® certificants and CFA® charterholders have experience in guiding corporate executives, business owners and women of wealth. We help our clients with life's transitions including succession, retirement and liquidity planning, marital/partnership changes or loss of a spouse. Our clients value our depth of talent and experience, along with our collaborative and approachable style. For more information, visit https://www.fairportwealth.com/.

About Luma Wealth

Luma Wealth Advisors is a division of Fairport that provides women with personalized wealth planning, experienced investment management, and a supportive, enriching community where they can learn, connect, and celebrate with other women. For more information, visit https://www.lumawealth.com/.

About Hightower

Hightower is a national wealth management firm that provides growth capital and front- to back-end support services to independent-minded financial advisory businesses. Operating as a Registered Investment Advisor, Hightower provides investment, financial and retirement planning services to individuals, foundations and family offices. Corporate services include 401(k) consulting and corporate cash management. For more information, visit https://www.hightoweradvisors.com/.

Securities offered through Hightower Securities, LLC. Member FINRA/SIPC, Hightower Advisors, LLC is a SEC registered investment Adviser.

More information: https://www.fairportwealth.com/index

MEDIA ONLY CONTACT:
For more information, please contact
Kristen T. Lucas
Chief Marketing Officer
Fairport Wealth
kristen.lucas@fairportwealth.com
216-431-3000

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Business, Entertainment, Free News Articles, Product Launches

Best Financial Life Launches Deliberate Money Moves Podcast

DANVILLE, Calif. -- Greater East Bay financial planning firm Best Financial Life announces the launch of the Deliberate Money Moves podcast. Deliberate Money Moves was developed as a new avenue to educate clients and prospects on a wide variety of money and financial wellness topics so they can discover how to make better, more beneficial decisions when it comes to their financial landscape.

"I'm always amazed by how many people I talk to, or meet with, who only experience financial planning that comes from optimizing singular strategies or revolve around a certain product," says founder and principal Joe Morgan. "This is just a tweak on your overall financial situation and nothing more. Instead, everyone should be seeking vast improvement that can be implemented and maintained across a lifetime, helping you hit all the goals you want in life.

"I'm honored for the opportunity to bring thought-provoking discussions to the airwaves in an approachable and easy-to-consume manner that will make you want to take action so you can truly live your best financial life."

Upcoming Deliberate Money Moves Episodes Include:
* Podcast Episode #01: Finding Financial Fulfillment
* Podcast Episode #02: What Do You Value?
* Podcast Episode #03: Net Worth
* Podcast Episode #04: The Truth About Your Income
* Podcast Episode #05: No Budgets for Old Dogs
* Podcast Episode #06: Optimism Is the Only Realism

Each episode will run about 10-15 minutes long, and the show will run bimonthly after our initial six-episode launch. Deliberate Money Moves is now available to listen to on Apple Podcasts and https://bestfinlife.com/podcast/.

About Joe Morgan:
Joe's work has been published in the Wall Street Journal, and in the local monthly Blackhawk Living Magazine. Joe is a recognized keynote speaker of the MedTech Conference and presenter on financial clarity. He is a member of the National Association of Personal Financial Advisors (NAPFA), the XY Planning Network, and the San Ramon Valley Rotary and is a graduate of Leadership San Ramon Valley. Joe is also associated with the San Ramon Chamber of Commerce, Danville Area Chamber of Commerce, CFA Institute, and the CFP Board.

About Deliberate Money Moves:
What financial situation or environment is challenging you right now? If you don't quite have the answer or don't want to say it out loud just yet, that's okay. I do, however, urge you to start at episode one and hit play. Together we will navigate and translate your financial state so you can take purposeful action with your money based on your specific needs. We will uncover your true values and motivations to develop clear goals that will ultimately help you move forward, and guide you, eliminating any unnecessary anxiety. It's time to find a quiet spot, take a deep breath, grab a pen and a piece of paper, and join me, your thinking partner. Because together, we will point you in a direction to live your best financial life and make Deliberate Money Moves.

About Best Financial Life:
While most financial planning firms provide advice and strategies geared toward certain products or services, Best Financial Life takes a different approach. As a fee-only financial advisor, Joe Morgan provides non-biased advice and conversation based on each client's specific needs. Joe translates personal finance by uncovering each client's areas of struggle and providing the knowledge, insight, and inspiration to address these pain points. Learn more: https://bestfinlife.com/

MEDIA ONLY CONTACT:
Susie Hays
CMO, Q2Mark
For Best Financial Life
862-324-2921
Susie@Q2Mark.com

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Business, Free News Articles, Funding and Investment

Conte Wealth Advisors Opens York Office Continuing Expansion

CAMP HILL, Pa. -- Camp Hill based Conte Wealth Advisors continues its considerable expansion efforts opening an office at 1423 E Market St in York and welcoming two seasoned advisors into the organization.

Brian Lauer and Patrick Barry each joined CWA on November 1, 2019 in order to offer expanded independent financial planning and wealth management services and benefits to their clients courtesy of the infrastructure and the team approach embraced by CWA, its staff, and its advisors. Lauer and Barry have brought their support staff to the new firm with them, bringing the team of staff across CWA up to 13 individuals.

"Moving to CWA will give me the ability to empower my clients to effect positive change in their lives through planning and investment guidance," Lauer says.

Barry believes that "It's really all about the client and their experience. The level of support at CWA, and the suite of products available to the team helps us to put our best foot forward in serving our clients."

The York office represents the seventh CWA office with the rest spread across Florida and Pennsylvania. Lauer and Barry round out the CWA team of advisors to 17 in total with six of those advisors having joined in 2019.

Conte Wealth Advisors continues to enjoy unprecedented growth and recognition from its broker/dealer, Cambridge Investment Research, where it falls within the top 6% of all producer groups which spans over three thousand advisors across all 50 states.

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker/dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Conte Wealth Advisors and Cambridge are not affiliated. 2009 Market Street, Camp Hill, PA 17011

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Awards and Honors, Business, Free News Articles

Beyond AUM Co-Founder Nima Tolooi Named One of Crain’s 2019 Notable Entrepreneurs

CHICAGO, Ill. -- Nima Tolooi, co-founder of Beyond AUM, has been named one of Crain's Chicago Business's 2019 Notable Entrepreneurs. Crain's list of Notable Entrepreneurs features 44 businesspeople who have identified needs and untapped opportunities in the market; organized and run companies; and taken on greater-than-normal financial risk to achieve success. The list includes emerging companies with revenue or funding between $500,000 and $10 million.

Founded in August 2017, Beyond AUM provides forward-thinking growth, marketing, and technology solutions to financial services firms, including wealth managers, financial planning firms, and registered investment advisors (RIAs). The agency's mission is to empower financial services firms to achieve world-class outcomes for their brands and professionals and drive success in the business far beyond assets under management (AUM), which is the standard measurement the industry uses to benchmark growth.

Like the personalized approach that fiduciary financial advisors typically use with their clients, Beyond AUM tailors strategies to firms' target demographics, current and prospective services, future goals, technology needs, and more. The result is an integrated business development, marketing, and technology roadmap that address challenges and streamlines workflows; enhances the end-user client experience; and positions firms for long-term, competitive success in the marketplace.

Previously, Nima served as the interactive marketing manager of Wipfli Hewins Investment Advisors (now Wipfli Financial Advisors), a national CPA-based wealth management firm, where he helped lead marketing, strategy, and technology initiatives. During his tenure, the firm's AUM grew to more than $5 billion. Nima also helped cement the firm as an industry thought leader, featured in notable publications such as Forbes, Time, CNBC, Businessweek, Kitces.com, My Perfect Client, and Masters in Accounting.

Through his industry experiences, Nima saw a need to bring other financial services firms into the digital age. Today, he empowers trusted, fiduciary advisors to better serve their clients and communicate their value through compelling content, unique digital experiences, and fintech solutions.

Nima is also the founder of Room to Grow, which recently was named one of Chicago's Best Coworking Spaces by Travel Magazine. Room to Grow provides resources, networking opportunities, and best-practice advice to many local startups and entrepreneurs.

View award: https://www.chicagobusiness.com/awards/nima-tolooi

About Beyond AUM:

Beyond AUM is an agency that provides field-tested, data-driven marketing, growth, technology, and digital experience solutions to financial services firms across the nation, including wealth managers, financial planning firms, and RIAs. Beyond AUM has been featured in Financial Advisor magazine and Financial Planning magazine for its work in helping advisory firms scale to achieve next-level growth in their practices. To learn more, visit https://beyondaum.com/.

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Business, Free News Articles, Taxes and Accounting

Paul B. Stetz Joins Fairport Wealth

CLEVELAND, Ohio -- Fairport Wealth (formerly Fairport Asset Management) announced today the appointment of Paul B. Stetz as Chief Operating Officer and member of the Executive Leadership Team.

Prior to joining Fairport, Paul has held leadership positions with Schwab Advisor Services and Fidelity Clearing & Custody Solutions, where he successfully led Sales & Relationship Management teams focused on developing trusted partnerships, delivering strategic consulting and value-added solutions to Registered Investment Advisors and their end clients.

Most recently, Stetz was a Managing Director with Mercer Advisors, where he successfully led the firm's mergers and acquisitions strategy in the Central, Great Lakes and Northeast Regions. He brings a deep understanding of the M&A landscape, deal structure and trusted relationships with RIA firms and industry partners across the country.

"Paul's track record in leading successful teams and deep understanding of RIAs and their clients make him an ideal fit for the role of Chief Operating Officer at Fairport," said Managing Partners Kenneth Coleman and Heather Ettinger. "His focus and experience will allow us to accelerate momentum and future growth. We're thrilled to have him on our team."

"Fairport is a recognized and trusted brand. I have always viewed Fairport as a leader in the wealth management industry, delivering a planning-led, holistic wealth management solution to clients and delivering customized solutions to their niche markets well ahead of their industry peers," said Stetz. "The client-first culture, committed and professional staff and a dedicated leadership team with a clear vision for the future make Fairport very special."

About Fairport Wealth:

Fairport Wealth inspires families by providing comprehensive wealth management solutions to high net worth individuals. Our team of credentialed professionals, including CPAs, CFP(R) certificants and CFA(R) charterholders have experience in guiding corporate executives, business owners and women of wealth. We help our clients with life's transitions including succession, retirement and liquidity planning, marital/partnership changes or loss of a spouse. Our clients value our depth of talent and experience, along with our collaborative and approachable style. More information available at https://www.fairportwealth.com/.

Luma Wealth Advisors is a division of Fairport that provides women with personalized wealth planning, experienced investment management, and a supportive, enriching community where they can learn, connect, and celebrate with other women. More information available at http://lumawealth.com/.

About HighTower:

HighTower is a national wealth management firm that provides growth capital and front- to back-end support services to independent-minded financial advisory businesses. Operating as a Registered Investment Advisor, HighTower provides investment, financial and retirement planning services to individuals, foundations and family offices. Corporate services include 401(k) consulting and corporate cash management. Visit https://www.hightoweradvisors.com/.

Securities offered through HighTower Securities, LLC. Member FINRA/SIPC, HighTower Advisors, LLC is a SEC registered investment Adviser.

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Business, Free News Articles

Gentry Wilson Partners – China Debt Continues to Rise

TAIPEI CITY, Taiwan -- After the poorest quarterly performance in almost three decades during the period from April to June this year, Gentry Wilson Partners analysts say China is clearly facing serious economic challenges. The world's second largest economy was once the most rapidly expanding, benefitting from inexpensive labor and sizeable government spending on infrastructure.

These days, China is fighting economic battles on both its domestic and international fronts. On the one hand, the prolonged trade spat with the US caused China's exports to decline last month as the impact of tariffs on goods to the value of hundreds of billions of dollars hit hard. On the other hand, imports also declined last month as domestic demand weakened. Although retail sales were better than anticipated, the rate of expansion was still the slowest seen since 2004.

With China targeting a GDP of between 6 and 6.5% for this year, Gentry Wilson Partners analysts believe the government faces a difficult task of trying to balance the need for economic stimulus and avoid adding to the already high levels of debt.

Growing debt levels have left China with less room to maneuver and the tactics that worked well to deal with the financial crisis a decade ago are no longer feasible options. When the financial crisis caused worldwide panic, China responded quickly with a massive stimulus package which helped the economy surpass Japan's as the world's second largest in 2010.

But, as of this month, China's debt level stands at 310% of GDP, approximately 15% percent of the world's debt. Gentry Wilson Partners analysts say this means massive stimulus is not an option and the government will need to find creative ways to help shore up the weakening economy.

Learn more at: https://www.gentrywilson.com/

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Business, Free News Articles, Funding and Investment

Memphis-based Venture Capital Firm Innova Announces Sale of Portfolio Company Arkis Biosciences to Integra LifeSciences

MEMPHIS, Tenn. -- Innova Memphis, a Memphis-based early stage venture capital firm, is pleased to announce the acquisition of its portfolio company Arkis Biosciences. Knoxville-based Arkis, a neuro-surgical medical device company, has been acquired by Integra LifeSciences Holding Corporation, a leading medical technology company.

"The acquisition of Arkis Biosciences strengthens Integra's offerings in neurocritical care and Integra's position as the world leader in advanced catheter technology," according to a press release issued on July 29 by Integra; furthermore Dan Reuvers, president of Codman Specialty Surgical says: "Today's acquisition expands our leading portfolio to better treat patients and underscores our commitment to addressing unmet needs in patient care."

Innova was an early investor in Arkis and led the company's Series A round in 2016.

Ken Woody, Innova President and Arkis Board Chair says: "We were very impressed with the team, and technology from day one. I worked closely with Chad Seaver and the management team, and saw their daily commitment to product quality and compassion for the patients. This was a great outcome for Arkis, and we could not have picked a better company to acquire this lifesaving technology than Integra. I'm very proud of the Arkis team and thrilled with the outcome for our co-investors."

Jan Bouten, Partner at Innova further states, "This is a great win for Tennessee. Arkis was founded by a physician from UT Medical Center and an engineer with a PhD from UT. They got started in the UT Research Foundation Business Incubator. This outcome is a great demonstration of Innova's thesis: 1) invest local, 2) invest early, 3) invest in great teams, and 4) invest in promising technologies that fill a real customer need. From there, we work very closely with the Founders as they grow their business and we bring other investors along with us."

Innova led a strong syndicate of investors who believed in the Arkis team and mission, including Angel Capital Group, Lighthouse Fund, and several other Angel investors from Tennessee and across the U.S. We're grateful for the support these co-investors gave Arkis as they grew and commercialized their product line.

"Many of our investors have a background in healthcare and are passionate impact investors. Innova was an ideal partner for Arkis due to their extensive experience in MedTech and their relationships in the industry. I think it is important for investors of a Medical Device company to appreciate the regulatory hurdles, sales cycles, and other challenges often faced in the industry. I'm grateful for our investors' passion, dedication, and especially for their support and confidence in the team," said Chad Seaver, founder and CEO of Arkis Biosciences.

Financial terms were not disclosed.

About Innova Memphis:

Innova is a pre-seed, seed and early-stage investor focused on starting and funding high-growth companies in Life Sciences, Technology and AgTech fields. Innova links capital with great ideas to create groundbreaking products and services. With more than $35M deployed in over 100 companies, Innova is one of the most experienced investors in the Mid South and Southeast. The firm was started in Memphis in 2007 by the Bioworks Foundation.

For more information visit https://www.innovamemphis.com/

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Business, Free News Articles

Ward Henderson Management – Germany’s Economic Gloom Could Continue

TAIPEI, Taiwan -- Ward Henderson Management - German economy shows signs of weakening further due to downside risks. In May, an important indicator of overall economic health, declined by more than expected. Germany's manufacturing industry reported poor growth, prompting concerns about the Eurozone's economic wellbeing.

Ward Henderson Management analysts say a sharp decline in foreign demand is affecting factories throughout the Eurozone, prompting speculation that the European Central Bank may be forced to resort to stimulus befitting a financial crisis. Germany in particular is experiencing the manufacturing downturn with new orders falling by 2.2% on a monthly basis in May, down 8.6% from the same time last year.

Earlier this month, Germany's 10-year Bund yield reached an almost historic low point of minus 0.4% as many analysts predict that the European Central Bank will opt to deliver more stimulus to cope with the slowdown.

Analysts at Ward Henderson Management say the recent data does not spell good news for Germany's short-term economic outlook. Germany's economy likely contracted in the second quarter of this year and the chances of making a recovery in the third quarter seem to be diminishing.

While much of Europe has dealt well enough with the manufacturing slowdown, Germany is showing signs of strain. Germany's labor market is weakening and Ward Henderson Management analysts believe that that, combined with major downside risks including global trade tensions, geopolitical concerns and the fallout from Brexit will likely cause Germany's economy to weaken further in the coming months.

More information: https://www.wardhenderson.com/

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