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DyMynd Money Is Always In Style eBook

DyMynd Money Is Always In Style eBook

When we think about style we often think about fashion, clothing, hair or interior design. Rarely, however, do we think that we have a money style. In this eBook, we will explore and examine Money Style: where it came from and how we use it.

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Women, Finance & Culture Whitepaper

Women, Finance & Culture Whitepaper

Through extensive research, focus groups and roundtable discussions; DyMynd has been privy to information about how women feel about their financial advisors, the industry as a whole as well as how one’s past can shape their financial identity. From this research, we’ve developed this comprehensive whitepaper focused the current state of women, finance and culture.

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Hedge Fund Intelligence

Shooting Yourself Full of Hormones Won’t Make You a Better Trader

Plato erred. Reason and emotion are not opposites. Neither is the mind separate from the body. Neuroeconomics is revealing that perception and judgment emerge like a symphony from an electrochemical orchestra that harmonizes the brain and the body . Body-based events like sensing and feeling are forms of intelligence. There’s growing scientific evidence for a wildly different view of what it actually means to think, revealing the potential for a vastly untapped source of behavioral alpha.

Did you know that brains, like bodies, literally get tired; that it’s really only possible for a human to make a few good decisions in a row? It’s called decision-fatigue and it could be turned into alpha by a CIO savvy enough to insist on such measures as intra-day naps and workouts for his or her traders.

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LinkedIn Pulse

The Top 10 Financial Mistakes Women Make

We all make mistakes. I’ve made more than my share. Here are the top 10 financial mistakes professional women make.
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Financial Advisor Magazine

Advisors Think Clients Know More Than They Do, Survey Says

Financial advisors vastly overestimate their clients’ knowledge about investing and their willingness to take risks, according to a new survey by Accenture, a global management consulting and technology services firm. In fact, Accenture says that clients themselves don’t have as much faith in their own knowledge or as much hunger for risk as advisors give them credit for.

Advisors are three times more likely to describe their clients as very knowledgeable about investing than the investors are themselves (42 percent versus 12 percent), says the firm.

Accenture surveyed 400 financial advisors and compared the results with those of an earlier survey of 1,005 investors and potential investors who use social media at least once a week.

Only 1 percent of advisors described their clients as unknowledgeable about investing, while 25 percent of the investors themselves said they didn’t know about the subject.

The surveys showed advisors are more than twice as likely to see their clients as aggressive investors than the clients themselves (28 percent versus 13 percent).

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So What If You Have Big Data? Without Data Driven Processes And Products, It’s Useless

These days, you don’t have to look hard to find big data. Even a little startup can produce gigabytes a day, and a company the size of Instagram can easily generate 500 terabytes a day. If you’re like many companies I talk to, you’re sitting atop an ever-growing mountain of data, scratching your head and wondering, “Okay, I’ve got big data. Now what do I do?”

You don’t win gold medals just for having data. The real winners are those like Amazon and Netflix that find ways to leverage their data better than the competition. Without a game plan to turn your data into revenue, you may as well scrap your badass Hadoop cluster and the petabytes of data it contains.

On the other hand, if you find ways to use that data better than your competition, you just might join the ranks of the big (data) boys like Amazon and Netflix.

So, how can you start to turn your data into cash? For most companies, there are two ways they can wield their data assets to create unfair competitive advantages: data-driven processes and data-driven products.

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She’s The Boss: Keeping Assets Means Keeping The Power of the Family Matriarch Fully in Focus

The woman who sits quietly and looks bored at meetings can arrange one of her own with the kids who will inherit the family fortune.

The research is tough to take but true: Only 2% of children keep their inheritances with their parents’ financial advisor (1). Why? Because the advisor lacks a relationship with the next generation.

When the assets being passed on to 98% of such heirs are going out the door, something needs to change. Here’s another scary statistic: Upward of 70% of widows change financial advisors within a few months to a year after their spouse dies. Why? Once again, because the relationship does not exist.

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Bloomberg Business

Banks Discover Money Management Again as Trading Declines

Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of managing money for clients.

Goldman Sachs’s stock and bond mutual funds have trailed about 61 percent of their respective peers on average over the five years ended Sept. 30, and about 52 percent over the past three years.

Deutsche Bank AG (DBK) is now counting on the fund unit it failed to sell to help boost return on equity, a measure of profitability. UBS AG (UBSN) is paring investment banking as it focuses on overseeing assets for wealthy clients. Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC), three of the five biggest U.S. banks, are considering expanding asset-management divisions as they seek to grab market share from fund companies such as Fidelity Investments.

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Understanding Customer Behavior in Retail Banking

In the last two years, the European banking market has witnessed unprecedented turmoil as it has undergone a period of massive uncertainty and change. With the financial institutions that had enjoyed record profits in 2007 now the subject of intense public scrutiny and, in many cases, the beneficiaries of taxpayer-funded support, an impact on customer relationships seems inevitable.

It costs retail banks as much as six times more to attract a new customer as it does to retain an existing one, and yet for many years the industry has not always focused on customer loyalty and the opportunities among its existing client base. In an economic climate as difficult as this one, fostering loyal customers is important to achieve growth.

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Bain & Company

Bain Capital Report: Customer Loyalty in Retail Stores

Retail banks have their backs against the wall. A struggling economy, lingering effects of the global credit meltdown, sweeping new regulations and tougher consumer oversight have fundamentally undermined how banks will make money. Bain & Company does not foresee the return on equity of US retail banks regaining 2006 levels before 2015 (see Figure 1).

More banks are coming to recognize that the way forward requires capturing the economics of customer loyalty, while dramatically reducing costs. They realize that they face a long, steep climb to accomplish this, but they need to find practical first steps that will generate demonstrable progress.
In this report, the 2011 edition of Bain’s annual survey of loyalty in retail banking, we examine where banks have made progress in strengthening customer advocacy and where opportunity still remains. We also delve deeper into the interactions and channels that matter most, to outline specific areas where banks can focus in order to improve customer loyalty most effectively, with the greatest returns.

Working with Research Now, a market research firm, we polled nearly 97,000 account holders from banks and credit unions across the US, Canada, Mexico and Brazil and followed up with 5,100 bank customers to see beyond the routine transactions and zero in on the interactions that customers say matter most to them— those “moments of truth” and “wows” that are decisive to winning their loyalty.

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University of Michigan

Assessing Construct Validity in Personality Research

This article addresses the assessment of convergent and discriminant validity in personality research. Four approaches are compared and contrasted for the analysis of classic multitrait-multimethod data, where three or more traits are measured with indicators derived from three or more methods. The approaches are the Campbell and Fiske criteria, the confirmatory factor analysis model, the correlated uniqueness model, and the direct product model. Pros and cons of the approaches are pointed out through a reanalysis of data originally collected by Van Tuinen and Ramanaiah, where global self-esteem, social self-esteem, and orderliness were each measured by true-false inventories, multipoint inventories, and simple self-reports. The Discussion considers guidelines for choosing among the approaches and further addresses procedures for nontraditional multitrait-multimethod data.
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