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The Unloved of 2017

Morningstar details its unloved funds, Guaranty Bank buys Wagner Wealth Management and Plancorp opens in Nashville.

Every year, Morningstar suggests that investors buy fund categories that suffered the most outflows in the previous year. Often, such unloved funds are close to hitting a trough and are about to enjoy a revival, the fund tracker argues. The unloved of 2017 include large growth (which has been unloved every year since 2004), large value and mid-value. The most-loved categories included large blend, foreign large blend and diversified emerging markets. Some examples to consider include ClearBridge Aggressive Growth, Vanguard Value Index and Harbor Mid Cap Value. “Contrarian thinking doesn’t come naturally to most investors,” writes Christopher Davis. “Fund-flow patterns tell us they buy what’s done well recently and sell what hasn’t. This pattern can become self-reinforcing. Strong flows drive up stock prices, attracting more return-chasing investors and bidding up prices further.”

Denver’s Guaranty Bank Acquires Wagner Wealth Management

Denver-based Guaranty Bank and Trust has purchased Wagner Wealth Management, the Denver Business Journal reports. The bank is folding Wagner into its Private Capital Management subsidiary, creating a firm with more than $1.1 billion in assets under management and one of the top 10 Colorado-based wealth management firms. Prior to the deal, the Denver Business Journal ranked Wagner as Colorado’s 21st largest investment manager. Wagner CEO Gary Wagner will become a managing principal of the combined firm, along with Private Capital Managing Principal Justin Apt. “Private Capital Management shares the same vision for serving the needs of clients while remaining focused on long-term relationships,” Wagner said. “Furthermore, the backing of Guaranty Bank and Trust Co. and their extensive banking products and branch network will also enhance the overall services we can provide to our clients.”

Plancorp Opens Branch in Nashville

Plancorp, a fee-only wealth management firm based in St. Louis, said Wednesday that it opened a branch in Nashville, Tenn. The firm said it will focus on working with medical professionals and entrepreneurs, two populations that are growing in that area, according to the wealth manager. Kyle Attarian, who will manage the new branch, said in a statement that “many in the healthcare industry find themselves preyed upon by commission-seeking advisors who may give biased advice.” Plancorp was founded in 1983 and oversees $3.9 billion in client assets.

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