Bill Gross: There's no denying the 'new normal' now
Global financial market returns stand at the threshold of mediocrity... Learn more.

European stocks rise, snap longest slump in year
Stocks rose, with the Stoxx Europe 600 Index snapping the longest losing streak in a year.... Learn more.

Virtuous Philanthropy
Thanks to their recent headline-making philanthropic acts, Bill Gates and Warren Buffet run the risk of giving America’s wealthiest business people a good name. Indeed, the generous benefactions of Gates and Buffet are being interpreted in some quarters as a positive indicator that the uniquely American brand of plutocracy also serves the public interest in the long term. In the American system, entrepreneurs are allowed to amass great fortunes but then are encouraged by custom—and tax incentives—to dispense with their accumulations through eleemosynary institutions founded in their names. Read the article.

IMCA in the News
Sean Walters, IMCA executive director and CEO, was interviewed by Fundfire—one of the leading U.S. online news services for professionals working in the institutional and high-net-worth asset management industry—on how advisors are using the CIMA^® designation in a post-crisis financial environment. Fundfire is published every business morning and delivered electronically to almost 50,000 readers. Walters told Fundfire that “We are seeing financial advisors use the Certified Investment Management Analyst^SM (CIMA^®) to better understand how to make portfolio recommendations to clients. Most advisors who seek the credential are not embracing the CIMA certification as part of a larger plan to de-emphasize outside money managers. To the contrary, advisors see CIMA certification as a way to understand how to select managers more effectively.” Fundfire subscribers can read the entire interview by clicking here.

LIVE AUDIO BROADCAST
The Next Shoe to Drop: The Commercial Real Estate Recovery
Presented Thursday, July 15, 4:15 PM ET
Registration deadline for live broadcast is 4 PM ET, July 15
CE Credit: One hour
Presented by Terrance R. Ober, Cohen & Steers Capital Management

The popular press continues to report that “commercial real estate is the next shoe to drop,” yet listed global real estate stocks have rebounded from their market lows and, we believe, still have a ways to go. The supply and demand picture is favorable, liquidity is growing, and price recovery is well underway. Dividends are growing again. Attendees will gain an understanding of and appreciation for the real estate investment trust asset class and the role REITs can play in a well-diversified portfolio. Click here for more information and to register.

IMCA 2010 Advanced Wealth Management Conference
Conference Dates:November 8–9, 2010
Early-bird registration deadline is October 8!
CE Credit: Approximately 12 hours, including one ethics hour

The leading conference for advanced wealth management techniques and networking is now open for registration.

Speaker Highlight
Peter Ricchiuti, MBA
Peter Ricchiuti is the assistant dean of Tulane University’s A.B. Freeman School of Business, where he teaches courses about financial markets and twice has been named the school’s top professor. In 1993 he founded Tulane’s acclaimed Burkenroad Reports stock research program. He previously served as state treasurer and chief investment officer for the state of Louisiana, and managed the state's investment and retirement funds. He began his career at Kidder Peabody. He has been featured on CNN and CNBC as well as in the New York Times, Barron’s, the Washington Post, and the Wall Street Journal.

Click here for more conference information and to register.

SAVE THE DATE!

IMCA 2010 Practice Management Conference
Conference Dates: December 5–7, 2010
Registration opens next month!
CE Credit: Approximately 13 hours, including one ethics hour

IMCA-style practice management education for the investment management consultant and the private wealth advisor is different—targeted, practical, and aimed at building the kind of clientele IMCA members want. Make sure to save the date so that you don’t miss the best conference for building your business.

CPWA Designation Program Enrollment Now Open
Enrollment deadline is August 6, 2010!
The Certified Private Wealth Advisor^SM (CPWA^®) designation program is an advanced credential created specifically for wealth managers and advisors who work with high-net-worth clients on the life cycle of wealth: accumulation, preservation, and distribution. Candidates who earn this prestigious designation learn to identify and analyze challenges facing high-net-worth clients and learn to develop specific strategies to minimize taxes, monetize and protect assets, maximize growth, and transfer wealth. Pre-study commences in September 2010, and the in-class program will be held March 14–18, 2011, at The University of Chicago Booth School of Business. Read what your peers have said about the program; click here for program information or to download the application.

Highlight Your Value with CIMA^® and CPWA^® Client Brochures

Let your clients and prospects know why they should work with a CIMA professional. The CIMA designation reflects completion and adherence to the “four E’s”: experience, education, examination, and ethics. To maintain their designations, CIMA professionals must continually adhere to a rigorous Code of Professional Responsibility and complete 40 hours of continuing education every two years. But what does this rigorous designation mean to prospects and clients? It means that when they work with an investment consultant who has earned the CIMA designation, they’re working with someone who is the best in the field—and will remain the best. To help you educate customers and prospects, IMCA makes available high-quality brochures in packs of 25 that answer the question “Why Work with a CIMA Professional?”

An electronic version of the brochure is available online at InvestmentHelp.org, or you can place an order for hard copies of the brochure through the IMCA Store.

CPWA client brochures also will be available in late August 2010. Check www.IMCA.org for updates.

Free Education Program Attracts Chicago Advisors
IMCA hosted a free educational seminar in Chicago on June 29 as part of an ongoing prospect series scheduled throughout 2010. The presentation focused on investment performance metrics and drew almost 40 prospective new IMCA members. Presented by IMCA Vice President John Nersesian, CIMA^®, CPWA^®, CFP^®, the presentation was entitled, "Advanced Investment Strategies: Essential Performance Metrics." It covered some of the topics taught in IMCA’s CIMA certification program, including evaluating and interpreting manager returns through measures of return, variance of returns, measures of risk, ratios for risk-adjusted returns, and fixed income. IMCA Executive Director Sean Walters introduced prospective members and designees to a brief overview of IMCA membership benefits and the Certified Investment Management Analyst (CIMA) and Certified Private Wealth Advisor (CPWA) credentialing programs. The next event will take place in Dallas, August 16, in conjunction with the newly formed North Texas Chapter of IMCA.

A Reminder Regarding Certification Renewal Requirements
There are three requirements to renew the CIMA^®/CIMC^® or CPWA^® license: complete and report a minimum of 40 hours of continuing education (CE) credit during the two-year certification renewal period; pay a certification renewal fee; and sign and submit a disclosure statement. For complete details regarding CIMA/CIMC certification renewal requirements, click here. For more information regarding CPWA designation renewal requirements, click here.

Need CE? Take the Quiz in Investments & Wealth Monitor
IMCA has published a continuing education (CE) quiz worth one hour of CIMA^®, CIMC^®, and CPWA^® IMCA-sponsored CE credit in the May/June 2010 issue of Investments & Wealth Monitor. Visit IMCA's Web site to learn more and to purchase the quiz or any past quizzes.