The Daily Brief
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Hedge Clippers

In recent weeks, hedge fund mangers have taken a beating—not to their portfolios, but to their public image. CNBC reports that both President Obama and presidential candidate Hillary Clinton criticized hedge fund managers for paying relatively low taxesAs Obama noted, “the top 25 hedge fund managers made more ($11.6 billion in 2014) than all the kindergarten teachers in the country ($8.5 billion in 2014).” And while that may not be managers’ fault, they certainly don’t make it any easier on themselves. CNBC interviewed one prominent investor, who asked to remain anonymous. The individual defended hedge fund managers, saying at other times in history, including before World War II, financial speculators have been unfairly blamed by politicians. "Instead of the Jews, it's the hedge fund managers," the person said.

Santander Expanding Wealth Management

Get your own personal banker. | Copyright Dan Kitwood, Getty Images

Santander, the Spanish bank with headquarters in Boston, is expanding its wealth management services by adding specialized bankers in the Boston, New York City and New Jersey areas. The service, called Santander Select, is geared toward customers with about $250,000 of deposits and investments. Each client has his or her own personal banker that becomes "a concierge for the customer for anything they need at the bank," said Michael Bruno, Santander's northeast New England regional president.

Schwab Invests in the Future

Who wouldn't want to go to school here?

Charles Schwab & Co. has teamed up with the University of Colorado-Boulder to create a CFP program at the university. The program, which aims to prepare undergraduates for a career in financial planning and wealth management, is expected to begin in the fall. It will eventually include 80 students, who will study personal financial planning, portfolio management, retirement planning, insurance, estate planning and tax accounting. Many in the industry say there is an acute need for more young financial advisors. The average age of a financial planner is 51, according to Cerulli Associates; just 5 percent are younger than 30.

Clients Who Have Kids Later in Life

Hey, who turned out the lights? | Copyright Adam Berry, Getty Images

The number of women having kids after the age of 35 is on the rise, according to the CDC. And that presents its own financial challenges for clients who have children later in life. But advisors can help. A recent U.S. World and News Report article points to five financial considerations for older parents. For instance, it’s more urgent to get life insurance and to have a will in place, the publication says. These parents may also have to work longer and put off retirement. Babies need stuff, and that can often lead to parents taking on more debt in their early years. And while younger parents have time to make up for the financial hit that kids can bring, it may be more difficult for older parents. Older parents also need to accept that the time demands of children will be an issue for several years to come. "Once that's accepted, everything else is a lot easier,” said Christian Muntean, a management consultant.

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