In a wide-ranging interview with Barron’s Advisor, Marvin McIntyre, a 52-year industry veteran who started building the Morgan Stanley Capitol Wealth Management Group 29 years ago, and A.J. Fechter, the team’s managing partner, banter about their unusual perspectives on succession, as well as the keys to building an intergenerational team. They reveal where they see investment opportunity now. And they describe how McIntyre’s military experience has impacted the team’s culture.
Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.
Covid Blunts Unilever’s Edge in Emerging Markets: Dove soap maker’s business in markets like India, for years a competitive advantage, has become more challenging amid the pandemic.
PLANNING & INVESTING
Complex Aircraft Investments Face a Reckoning: Liquidity facilities have kept plane-backed structured products afloat as airlines have stopped paying, but this has only deferred the blow.
From Dow Jones Newswires
The shock from the coronavirus pandemic is very different compared to the shocks caused by the financial crisis of 2008 and the Great Depression in the 1930s, economists Paul De Grauwe and Yuemei Ji say. The intensity of the downward movement after the eruption of the pandemic is much greater and faster than that of the Great Depression and of the banking crisis of 2008 because the pandemic produced both a supply and a demand shock, they say in an article for VoxEU. Another difference is the revival observed after the lockdowns were eased, when industrial production rebounded strongly. “This revival was made possible by the fact that most governments responded in the right way,” the economists say. ([email protected])
Most eurozone banks are well-positioned to meet the European Central Bank’s eligibility criteria to access the lowest available funding rates, says ING’s Suvi Platerink Kosonen. “The banking sectors of France, Spain and Italy are among those showing the strongest lending growth” and banks in “Italy and Spain in particular, but also to a lesser extent France, stand to benefit from the attractive funding levels of the longer-term refinancing operations (TLTROs) program as compared to funding via bond markets,” she says. The interest rate in the ECB TLTRO-III operation is tied to lending development. If banks meet the set lending criteria, they can obtain the TLTRO funding at a rate as low as minus 1% for one year and at minus 0.50% thereafter. ([email protected]; @lorena_rbal)
BUSINESS & PRACTICE
Grocers Stockpile, Build ‘Pandemic Pallets’ Ahead of Winter: Resurgence of Covid-19 cases and the impending holiday rush prompt retailers to sideline lean-inventory strategies.
UBS Is Embracing Sustainable Investing. Other Wealth Managers Could Follow: The firm’s decision to recommend sustainable investing over traditional investing to clients around the world is likely to be followed by other wealth managers, some experts say.
Is It Insane to Start a Business During Coronavirus? Millions of Americans Don’t Think So: The pandemic closed hundreds of thousands of businesses across the country. But now applications for new U.S. businesses are rising at the fastest rate since 2007. Why? A mix of necessity and opportunity.
TRAVEL & LIFESTYLE
Some Travelers Miss Flying So Much, They’re Taking Planes to Nowhere: Commercial flights that go up then circle back home are finding an eager audience.
The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron’s, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery.
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