Annie Liebovitz's photo exhibition "WOMEN: New Portraits" just completed its 10-city tour in Zurich, Switzerland, home of its commissioning partner, UBS. UBS had Leibovitz display photographs of famous women who are at the top of their fields — such as Meryl Streep, Queen Elizabeth II or Hillary Clinton — next to 22 new portraits of outstanding personalities — such as Adele, Venus and Serena Williams, or Sheryl Sandberg as a way to send a message about diversity and female empowerment. The exhibition was part of UBS Wealth Management's five-year UBS Unique plan, which focuses on better serving female clients. It includes an educational partnership to increase the financial confidence of 1 million women by 2021, Forbes reports. Overall, the exhibition attracted 200,000 visitors and offered 200 free learning events. The photographs now join UBS's art collection, which counts more than 30,000 pieces of contemporary art.
Assets in target-date funds climbed from roughly $125 billion a decade ago to $880 billion as of the end of 2016, a new Morningstar report found. At the same time, expense ratios of these funds have fallen from an average 99 basis points in 2011 to 71 basis points by the end of last year. “The reality is that target date funds must be competitively priced to thrive,” said Jeff Holt, associate director of multi-asset strategies research. In 2016, about two of every three dollars directed to target-date mutual funds went to those invested primarily in index funds. The study also found that more than 70 percent of target date assets are held by the top three providers — Vanguard, Fidelity and T. Rowe Price. Vanguard was the only one of the three to increase its market share in 2016, with $37 billion in net inflows.
Investors are so concerned about the economy that they are putting their lives on hold. According to the 2017 MFS Heritage Planning Survey, six out of 10 people are delaying major life events like buying a home or starting a new career because they are concerned about their financial situation. Rising health care costs is at the top of their list of worries; others included the federal deficit, Social Security benefits and a major stock market collapse. The survey found that Generation X is feeling the most pressure. "They are desperately looking for guidance,” said Doug Orton, MFS’ director of business development. “In fact, 85 percent of Generation X investors surveyed said they look to their financial advisor for retirement savings advice, and approximately 60 percent say they will rely on their advisor more in the coming years."