The Daily Brief
Invest Like the New Barbie

Invest Like the New Barbie

They come in all shapes and sizes.

Mattel recently revealed a whole new line of its popular Barbie dolls, with "real life" body types - tall, petite and curvy. And while there are flaws in limiting the body types to three, as well as introducing new skin tones and hair colors to the 57-year-old iconic toy, there are also investment lessons to be learned, writes Walter Updegrave of RealDealRetirement.com on Money.com. First: One size does not fit all, as in everyone's investment portfolio should work for them. What works for one client might not work for another. Next: Customize. Updegrave writes that most investors only need a few simple, but important building blocks in their portfolios, in the proportions that make the most sense for them, of course. And finally, less can equal more, especially when it comes to creating investment portfolios. While there are exotic ETFs and arcane assets that can be added to a portfolio, the more you pile on, the more unwieldy it can become as well. "If you need the fingers of both hands to count the number of investments you own, chances are that own investments you don’t really need, and you may want to consider trimming your holdings," Updegrave writes.

Bye Bye Bye

Don't mess with FINRA.

The Financial Industry Regulatory Authority barred two brokers from the industry on Thursday, claiming the duo scammed investors with fraudulent marketing for a hedge fund that lost 80 percent of its value in the last full month it was traded. Timothy S. Dembski and Walter F. Grenda allegedly sold investors on the Prestige Wealth Management Fund by falsely claiming it was a "growth" fund and investments would be based on a computer algorithm. But according to FINRA, the fund’s very human chief investment officer was in control of the investments and did not have any of the billed risk protections to limit losses in the fund. FINRA’s head of enforcement, Brad Bennett, said the regulator ejected almost 500 brokers from the industry last year and would “continue to root out” those who take advantage of investors.

Ripple Effect

Playing musical chairs. | Copyright Stephen Chernin, Getty Images

A little over a month after being promoted to the top spots at Morgan Stanley Wealth Management (following Greg Flemming's departure from the firm), Shelley O’Connor and Andy Saperstein made some leadership changes this week. As reported by Reuters, Raj Dhanda, head of investment products and services in the wealth management business, left the Wall Street bank this week. Ben Huneke will take over the role, taking on responsibility for traditional investment products, alternatives and the relationship management group, according to an internal memo sent to employees on Thursday. Chief Information Officer Chris Randazzo will also take on more responsibilities, becoming head of Institutional Wealth Solutions in addition to his current duties. Vince Lumia, head of Private Wealth Management, will take over the Strategic Lead Management Group. But overall, the regional and complex structure remains unchanged, the memo said.

Evercore Founds Trust Company

Now in Delaware.

Evercore (EVR) today announced the opening of Evercore Trust Company of Delaware. The new venture is intended to enhance the firm's fiduciary and investment services for high-net-worth families and related institutions. Jeff Maurer, Chief Executive Officer of Evercore Wealth Management and Chairman of Evercore Trust Company N.A., notes, "Delaware's tax and regulatory environment makes the state an attractive trust jurisdiction for many of our clients. The new trust company, which is chartered in Delaware, enhances our national fiduciary capabilities as we strive to set the new standard in financial planning and investment management."

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