Business Development Tools at CFA Institute
Stephen M. Horan, CFA

New initiatives help members communicate with clients, develop new business, and increase the profile of the CFA charter.

Exchange Funds: A Useful Tool to Achieve Diversification
Thomas J. Boczar, CFA

Exchange funds are an alternative to derivative-based solutions for managing concentrated stock positions. Although the strategy has advantages, investors do not monetize their position and must choose the fund carefully.

With Estate Puts, Beauty Is in the Eye of the Beholder
Andrew Kalotay, PhD

A bond with an estate put (or survivor’s option) can be redeemed at face value by the holder’s heirs if the holder dies — an attractive feature to investors with a short life expectancy.

(Re)Entering the Market: The Costs and Benefits of Dollar Cost Averaging
Gregory D. Singer and Ted Mann

Dollar cost averaging can help nervous investors put money to work in volatile equity markets. But it may not be the best strategy for building wealth over the long term.

Retrocessions in Switzerland
Martin Straub

Retrocessions are kickbacks and other payments made to asset managers by financial institutions in Switzerland. Improved disclosure, transparency, and investor education are potent antidotes for the conflicts of interest that retrocessions introduce.

Investors Challenge Market “Truths”
Christina Yeh

The past 18 months have challenged traditional thinking about investing and asset allocation, diversification, and correlation. As a result, investors have changed their risk tolerances, market expectations, and investment processes.

Regularizing Undeclared Income: The Case of Russia
Sergei Zhestkov

Tax authorities are becoming more efficient and aggressive in investigating undeclared funds.  Advisers must understand how to help their clients “regularize” previously undeclared income so that their clients' problems do not become their problems.