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WSJ Wealth Adviser briefing: Corporate jets, art-backed loans, camping vacations

By on March 23, 2021 0

This worry that comes with wealth may seem paradoxical, but Michael Tiedemann says his firm’s more than 400 client households almost invariably worry about their heirs. “Most of them share the fear that the wealth they have generated will somehow harm the next generation or those that follow it, that their children will be preyed upon and that their ethics work doesn’t translate,” says the CEO of New York-based Tiedemann Advisors, Barron’s 11th RIA firm.

Speaking to Barron’s adviser, Tiedemann – whose firm manages $17 billion in assets under management – explains how he and his team of 37 advisers help clients address their concerns. It reveals that impact investing has become a magnet for new businesses. And he warns that stimulus from the Fed and Treasury created a peril in the stock market.

Below, some of the best analysis and insights from editors and columnists at the WSJ, the team at Dow Jones Newswires and sometimes beyond, on investing, the wealth management industry and more.

CORONAVIRUS OUTLOOK

Hong Kong’s main airline expects $1.3 billion loss: Hong Kong’s flagship carrier Cathay Pacific Airways said it expects a net loss of around $1.3 billion for the first half of the year after Covid-19 restrictions hammered his business.

PLAN AND INVEST

Business jets are flying again. Their manufacturers are not: Private plane makers have focused on developing new long-range models, but the post-pandemic world could end preferring cheaper and smaller planes.

MARKET TALK
From Dow Jones Newswire

Strong U.S. housing demand will continue to drive further increases in construction activity, said Veronica Clark, U.S. economist at Citi. The continued rise in housing starts and permits is another positive sign that real estate activity is rebounding from temporary construction halts, she said, although the increase was somewhat slower than the rebound in housing. demand. As for the resurgence of Covid-19 cases across the United States — which has caused some businesses to close — construction activity has yet to be affected, Clark says. ([email protected])

In the first week of the Q2 earnings season, earnings far exceeded expectations, according to Credit Suisse. The investment bank notes that quarterly earnings per share are expected to fall 43% from a year earlier. But, after the release of 13.4% in the S&P 500 market cap, the results so far are 13% better than expected, the highest level of upside surprises since 1Q10. Additionally, 76% of reported companies exceeded their lowered projections. ([email protected]; @ptrevisani)

BUSINESS PRACTICE

Wirecard misfortune spreads as banks struggle to exit loans: Wirecard’s insolvency hurts some banks that lent to the once high-flying German fintech.

IMPACT INVESTMENT

NAACP president sees diversity as an opportunity to gain market share: Derrick Johnson explains why companies need more innovative approaches and the blind spots that can arise when staff rank do not correspond to the potential clientele.

TALKING POINTS

A bad year for art looks like a good year for art-secured loans: Bankers are ready to lend money to the world’s billionaires, using their art collections for warranty.

TRAVEL & LIFESTYLE

Camping holidays: dreamy or dreadful?: Two writers debate the pros and cons of sleeping outdoors. Plus: 6 of the best campgrounds in the United States, according to Bear Grylls and other outdoor professionals.

ABOUT US

The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. Content is curated by the Dow Jones Newswires team from articles from Newswires, Barron’s, MarketWatch and The Wall Street Journal. The briefing is emailed to subscribers each morning of the workday at 6:30 a.m. ET. You can sign up here for email delivery.

For more information on our services for finance professionals, please visit our website.

Your comments are welcome. Please email [email protected] or contact Dwight Oestricher at [email protected]

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