Investment adviser as a subject of the financial legal relations

This article is devoted to the consideration of the legal status of an investment advisor as a subject of financial legal relations. Attention is paid to the genesis and development of this institution, both in Russia and in foreign jurisdictions. The paper provides various points of view on the definition of the concept of “financial service”. The author lists the arguments confirming that the investment advisor has financial and legal status. The paper expresses the author’s opinion that the further development of this institution will improve not only the investment climate in our country, but also the attitude of Russian citizens to the securities market.

Survive, Revive, Thrive: Chapter 8: Trade Winds

Aging is not lost youth, but a new stage of opportunity and strength. - Betty Friedan, American feminist, 1921-2006 (Cofounder of the National Organization for Women) Where Are We Going? If one does not know to which port one is sailing, no wind is favorable. - Lucius Annaeus Seneca, Roman statesman, 4 BC-65 AD The most challenging aspect of creating a monthly column is to try to balance mission (i.e., long-term strategy), contemporary events (i.e., things happening now), and the urgent (i.e., news you need to know). This column will have a bit of all three. I chose “trade winds” as the theme for this article. As every sailor knows, you must tack to where the wind is, not where you want it to be. I know that every student and Young Professional is waiting for the wind to align with their path. Frankly, I cannot promise that will happen anytime soon, but I can promise it will happen. To borrow a phrase, “patience or pivot” is on everyone’s mind right now. What I would point out is that we have already done both; we have been patient and we have pivoted. I believe that our pivot has been to see the strength and missions of our industry as never before. This is not just in terms of the financial recovery that will significantly enhance activity across all sectors of our industry, but also the impact of having secure and cost-effective energy to power that economy and to provide so many direct benefits to society. My goal as SPE President is to ensure that every initiative that can be considered is considered, that every member feels valued, that their voice is heard, and most of all, that we collectively and proactively work to build the future of our industry. As an adolescent, a family member once told me that “sentimentality is the worst investment advisor.” Obviously, this advice was given as I was about to invest in something stupid and my family member used it as a moment to educate me. I confess it took a while to sink in, but it is true. We must be realistic about the value generated by our investments in life (e.g., time, education, personal relationships, and of course, money). SPE must make investments to remain relevant, and frankly, I need your support to ensure those investments are both wise and appropriate.

RESEARCH ON THE APPLICATION OF ARTIFICIAL INTELLIGENCE IN FUND MANAGER IDENTIFICATION

For the selection of fund managers in fund investment, traditional measurement methods were mainly based on descriptive analysis and regression modeling for a small sample of numerical data. They did not make full use of the relevant big data information of fund managers and ignored the nonlinearity between data. As a result, the prediction error was large. In this paper, we use the heterogeneous data of fund managers, such as numerical data and textual data, to fully explore the characteristic factors of fund performance, and further employ the artificial intelligence algorithms including the traditional machine learning models and deep learning model to consider the nonlinear characteristics between the data to identify the style of fund managers. It is found that there is a nonlinear characteristic between the characteristic factor and the performance of the fund. The artificial intelligence algorithm, especially, the deep learning method has a better performance in the classification and prediction of fund managers, especially, after adding text information. The research in this paper has enriched the application of intelligent investment advisor in fund investment to a certain extent, and provided a scientific basis for investors’ choice.

Performing the Activities of the Commercial Investment Advisor in Austria and of the Financial Advisor in Slovakia

Financial advisory means providing advice concerning various financial products such as loans, insurance and investments. The commercial investment advisor and the financial advisor develop individual analyses and concepts for their clients, in the sense of a comprehensive financial planning, about the type, construction, protection, maintenance, retention and possible uses of assets and financing. They respond to the special needs of their customers. Despite these common elements, there exist important distinctions in the regulation of the commercial investment advisor in Austria and of the financial advisor in Slovakia.

Annuities are not securities: the regulatory Island in Illinois

Purpose Discusses the significance of the Illinois Supreme Court ruling in Van Dyke v. White, which clarified that annuities are not securities in the state of Illinois, with a particular focus on the ramifications to insurance, brokerage and investment advisory standards of care as well as causes of action for breaches thereof. Design/methodology/approach Describes the Court’s ruling as it relates to the industry going forward. Does not discuss the specifics of the plaintiff’s case or history. Findings The statutory language of Illinois’ securities laws specifically excludes annuities from the definition of securities. For this reason, the Illinois Department of Insurance has sole authority over regulating annuities, giving the Illinois Department of Securities no authority, except to the extent there is an investment advisor breach pursuant to §12(J) of the Illinois Securities Law of 1953. The industry has yet to react or adjust to the Court’s ruling, so there may be a future wave of reactions. Originality/value Assists the reader in understanding the unique regulatory environment of annuities in Illinois, the relevant standards of care related to annuity advice and transactions, and remedies for grievances after the Illinois Supreme Court ruling in Van Dyke v. White.

The Influence Of Demography And Risk Tolerance Toward Portfolio Invesment Selection Of Post Graduate Students

The purpose of this research is to give empiric evidence from the influence of demography variable toward portfolio investment selection and risk tolerance also the influence of risk tolerance toward portfolio investment selection. The methodology of this research was used primer data by questionnaire both online and offline to postgraduate students in Jakarta. Data succeeded to be collected for 258 respondents and data analyze method used descriptive statistic, coefficient concordance Kendall W and chi square analyze. The result of this research showed that demography variable significantly influence to investor risk tolerance for Postgraduate students in Jakarta. Gender and age significantly influence to risk tolerance and occupation is not influence to investor risk tolerance for Postgraduate students in West Jakarta. Meanwhile for gender significantly influence to investment portfolio selection. Risk tolerance significantly influence to investment portfolio selection for postgraduate students in West Jakarta. The implication for investor and investment advisor should understand the demography variable and investor risk tolerance level, therefore they make right investment.

A Quick Gbest Guided Artificial Bee Colony Algorithm for Stock Market Prices Prediction

The objective of this work is to present a Quick Gbest Guided artificial bee colony (ABC) learning algorithm to train the feedforward neural network (QGGABC-FFNN) model for the prediction of the trends in the stock markets. As it is quite important to know that nowadays, stock market prediction of trends is a significant financial global issue. The scientists, finance administration, companies, and leadership of a given country struggle towards developing a strong financial position. Several technical, industrial, fundamental, scientific, and statistical tools have been proposed and used with varying results. Still, predicting an exact or near-to-exact trend of the Stock Market values behavior is an open problem. In this respect, in the present manuscript, we propose an algorithm based on ABC to minimize the error in the trend and actual values by using the hybrid technique based on neural network and artificial intelligence. The presented approach has been verified and tested to predict the accurate trend of Saudi Stock Market (SSM) values. The proposed QGGABC-ANN based on bio-inspired learning algorithm with its high degree of accuracy could be used as an investment advisor for the investors and traders in the future of SSM. The proposed approach is based mainly on SSM historical data covering a large span of time. From the simulation findings, the proposed QGGABC-FFNN outperformed compared with other typical computational algorithms for prediction of SSM values.