What Happens When Financial Rule Changes and Social Media Come Together?

What Happens When Financial Rule Changes and Social Media Come Together?

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Wealth management and financial planning does not have to be dry and humorless.  In fact, social media is adding a dimension to the financial world that is full of witty and sharp commentary from all points of view.

On Wednesday, July 10, 2013 the Securities and Exchange Commission (SEC) voted 4-1 to remove a 1930’s era rule banning hedge funds and private equity firms from advertising.  Hedge funds are still limited by rules requiring they sell only to the wealthy (defined as over $1 million net worth- excluding residence- or family income over $300,000).  The typical charge by hedge funds to this exclusive group of clients is pretty steep, being 2% of the assets managed and 20% of the profits.

Within hours Twitter lit up with tongue-in-cheek commentary on new advertising slogans for the high-priced hedge fund world, all “trending” under the symbol #hedgefundslogans.  Below is a sample of these creative and humorous comments (accompanied by the author’s Twitter name).   There were dozens of other comments and you might want to do your own search.

@ritholtz “Because trophy wives are expensive”

@Biotechboy “We put the FUN in hedge fund!”

@RobBartenstein “I don’t always pay for underperformance, but when I do, I pay 2 and 20.”

There are a variety of other Twitter #hashtags with interesting and insightful commentary where matters financial and legislative come together including #fiduciary, #ERISA, and #RIAs.  Enjoy this democratic and wide-ranging source of information.

Authored by: T. Taylor Payne, CPA/PFS, CFP(r)

Direct Phone: 812-602-6301

Email:  ttpayne@paynewealthpartners.com

The Payne Wealth Partners team has DEEP knowledge and is dedicated to using that knowledge to help make clients’ lives better.

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The information in this material is only as current as the date indicated, and may be superseded by subsequent market events or for other reasons. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements. The information does not attempt to examine all the facts and circumstances that may be relevant to an individual’s financial needs. Payne Wealth Partners, Inc. is not soliciting any action based on these statements.

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