Certified Financial Planner Board of Standards announced Wednesday that its Board of Directors has elected G. Joseph Votava to serve as its 2015 chairman-elect.
The Board of Directors elected Votava to the chair-elect post at its July 8-11 meeting. He will begin his duties as chairman-elect on Jan. 1, when Rich Rojeck begins his term as 2015 chairman.
“Joe has already made a significant impact on the financial planning profession through his efforts to raise awareness of the profession and advocate on behalf of it,” said current Board Chairman Ray Ferrara. “He will harness his extensive leadership experience to sustain CFP Board’s mission of benefitting the public by upholding the CFP certification as the recognized standard of excellence in personal financial planning.”
Votava added in the same statement that “between the launch of the latest phrase of the Public Awareness Campaign and the Women’s Initiative (WIN) to increase the ranks of female CFP professionals, CFP Board has taken on some exciting initiatives to foster the growth and advancement of our profession. I am honored to help lead CFP Board as we continue to work to strengthen our organization and the CFP certification.”
10 Best Diversified Bank Stocks To Invest In Right Now: Nuveen Credit Strategies Income Fund (JQC)
Nuveen Multi-Strategy Income & Growth Fund 2 (the Fund), formerly Nuveen Preferred and Convertible Income Fund 2, is a diversified, closed-end management investment company. The Fund intends to invest in a portfolio of preferred securities, securities and, to a lesser degree, high yield securities. The Fund may also invest in other debt instruments and common stocks acquired upon conversion of a convertible security.
On January 1, 2005, Nuveen Institutional Advisory Corp. (NIAC), the Funds' previous adviser, and its affiliate, Nuveen Advisory Corp. (NAC), were merged into Nuveen Asset Management (NAM), each wholly owned subsidiaries of Nuveen Investments, Inc. (Nuveen). As a result of the merger, NAM is the Adviser to all funds previously advised by either NIAC or NAC. The investment portfolio of the Fund includes JPMorgan Chase & Company, ING Group NV, Union Planters Corporation, HBSC Holdings Public Limited Company, Wachovia Corporation, Omnicare Capital Trust II, Hanover Compressor Capital Trust and CIT Group Incorporated.
Advisors' Opinion:- [By John Dowdee]
The following 10 funds satisfied all of these conditions:
BlackRock Float Rate Strategies (FRA). This CEF sells at a discount of 3%, which is low compared to an average premium of 2% over the past year. The distribution has been managed at 6.1% and a small amount (less than 10%) has been return of capital (ROC). However, this has not negatively affected net asset value (NAV) so has not been destructive. The fund holds 447 securities, with 90% in floating rate loans. FRA utilizes 27% leverage and has an expense ratio of 1.7%, including interest payments. Eaton Vance Floating Rate (EFR). This CEF sells at a 1% premium, which is low compared to an average premium of 5% over the past year. The distribution is 6.2%, none of which was ROC. The fund holds 800 securities, with 90% in floating rate loans. About 85% of the securities are from U.S. companies. EFR utilizes 35% leverage and has an expense ratio of 1.8% including interest payments. ING Prime Rate Trust (PPR). This CEF sells for a premium of 2%, which is below the average premium of 5%. It has a distribution of 6.8%, none of which was ROC. The fund has 350 holdings, virtually all in senior loans and from US companies. PPR utilizes 29% leverage and has a high expense ratio of 2.1%, including interest payments. Invesco VK Dynamic Credit Opportunities (VTA). This CEF sells for a discount of 5%, which is below the average discount of 1%. It has a distribution of 7.1%, none of which was ROC. The fund has 495 holdings, with 76% in floating rate loans. About 25% of the loans are from non-US companies. VTA utilizes a relatively low 20% leverage but still has a high expense ratio of 2.1%, including interest payments. Invesco VK Senior Income (VVR). This CEF sells for a discount of 1%, which is below the average premium of 3%. It has a distribution of 7.1%, none of which was ROC. The fund has over 500 holdings, with 89% in floating rate loans. Almost all (95%) securities are from US companies. VVR ut
10 Best Financial Stocks To Own Right Now: United States 12 Month Oil Fund LP (USL)
The United States 12 Month Oil Fund, LP (US12OF) is a commodity pool that issues limited partnership interests traded on the New York Stock Exchange (NYSE) Arca, Inc. (the NYSE Arca). The investment objective of US12OF is for the daily changes in percentage terms of its units per unit net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the average of the prices of 12 futures contracts for light, sweet crude oil traded on the New York Mercantile Exchange (the NYMEX) consisting of the near month contract to expire and the contracts for 11 months, for a total of 12 consecutive months contracts, except when the near month contract is within two weeks of expiration, in which case it is measured by the futures contract that is the next month contract to expire and the contracts for 11 consecutive months (the Benchmark Oil Futures Contracts). The Company is managed and controlled by its general partner, United States Commodity Funds LLC (the General Partner). The General Partner is the general partner of US12OF and is responsible for the management of US12OF.
The net assets of US12OF consist primarily of investments in futures contracts for light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas, and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other United States and foreign exchanges (collectively, Oil Futures Contracts). It also invests in other oil interests, such as cash-settled options on Oil Futures Contracts, forward contracts for oil, cleared swap contracts and non-exchange traded (over-the-counter) transactions that are based on the price of oil, other petroleum-based fuels, Oil Futures Contracts and indices based on the foregoing (collectively, Other Oil-Related Investments). For convenience and unless otherwise specified, Oil Futures Contracts and Other Oil-Related Investments collectively are referred to! as oil Interests.
US12OF invests in Oil Interests to the fullest extent possible without being leveraged or unable to satisfy its current or potential margin or collateral obligations with respect to its investments in Oil Futures Contracts and Other Oil-Related Investments. US12OF�� investments in short-term obligations of the United States of two years or less (Treasuries), cash and/or cash equivalents.
Advisors' Opinion:- [By Dan Caplinger]
Another choice is to use ETFs with a longer-term futures strategy. The United States 12-Month Oil Fund (NYSEMKT: USL ) holds equal positions in each of the next 12 futures contracts. That reduces the positive impact of near-term backwardation, but it gives you more exposure to the heavier backwardation that exists further into the future.
10 Best Financial Stocks To Own Right Now: Source Capital Inc.(SOR)
Source Capital, Inc. is a close-ended equity fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It makes its investments in the stocks of companies operating across diversified sectors. The fund benchmarks the performance of its portfolio against the Russell 2500 Index, the S&P 500 Index, and the Nasdaq Index. Source Capital, Inc. was formed in 1968 and is domiciled in the United States.
Advisors' Opinion:- [By Rich Duprey]
Closed-end investment company�Source Capital (NYSE: SOR ) announced�today�its third-quarter dividend of $0.75 per share, the same rate it's paid for the past two quarters.
10 Best Financial Stocks To Own Right Now: Guggenheim Multi-Asset Income ETF (CVY)
The Guggenheim Multi-Asset Income ETF (the Fund), formerly Claymore/Zacks Multi-Asset Income Index ETF, seeks investment results that correspond generally to the performance of an equity index called the Zacks Multi-Asset Income Index (the Index). The Index consists of approximately 125 to 150 securities selected, based on investment and other criteria, from a universe of domestic and international companies. The universe of securities within the Index includes United States-listed common stocks, American depositary receipts (ADRs) paying dividends, real estate investment trusts, master limited partnerships, closed-end funds and traditional preferred stocks. The companies in the universe are selected using a methodology developed by the index provider, Zacks Investment Research, Inc. The Fund, using a passive or indexing investment approach, seeks to replicate the performance of the Index. The Fund�� investment advisor is Claymore Advisors, LLC. Advisors' Opinion:- [By Genia Turanova]
Moreover, investors can do one-stop shopping for most income classes through a single ETF as well. One interesting choice here is Guggenheim Multi-Asset Income (CVY).
10 Best Financial Stocks To Own Right Now: Paradigm Resource Management Corp (PRDC)
Paradigm Resource Management Corp., formerly China Digital Ventures Corporation, incorporated on March 26, 2007, is a development-stage company. In April 2012, the Company acquired all of the mineral rights properties of ARNEVUT Resources Inc. (ARNEVUT). ARNEVUT is an exploration and mining company. ARNEVUT has an option to acquire majority control of the Island Mountain property from Gateway Gold Corporation (Gateway). The property consists of 53 unpatented lode mineral claims that consists of an area of 920 acres (372 hectares) situated near the northeast end of the Jerritt Canyon Trend. The East Canyon property is located in Elko County, Nevada and Box Elder County, Utah. Most of the claims are located in Box Elder County, Utah. The Zia Uranium property is nine miles northeast of Grants, New Mexico. The property contains uranium mineralization hosted by the Todilto Limestone and probable uranium mineralization hosted by sandstones of the Morrison Formation. These claims are wholly owned by ARNEVUT.
During the fiscal year ended September 30, 2011 (fiscal 2011), the Company had no revenue and operations. The principal business of the Company was its Web-based telecom and Internet protocol television (IPTV) businesses.
Advisors' Opinion:- [By Peter Graham]
Small cap resource or green stocks Paradigm Resource Management Corp (OTCMKTS: PRDC), Extreme Biodiesel Inc (OTCMKTS: XTRM) and Pan Global Corp (OTCMKTS: PGLO) have all been getting some attention lately thanks in part to a few paid stock promotions. However, two of these small cap appear to be the subject of minimal paid promotion activity, but even a small paid promotion or investor relations campaign can increase a stock�� volatility. So do these three small cap resource or green stocks have what it takes to deliver some Christmas cheer for investors and traders alike? Here is a quick reality check:
10 Best Financial Stocks To Own Right Now: Prudential Bancorp Inc. of Pennsylvania(PBIP)
Prudential Bancorp, Inc. of Pennsylvania operates as the holding company for Prudential Savings Bank that provides various financial products and services in Pennsylvania. Its deposit products include interest-bearing and non-interest-bearing checking, money market, savings, and certificate of deposit accounts. The company?s loan portfolio comprises single-family residential mortgage loans, construction and land development loans, non-residential or commercial real estate mortgage loans, home equity loans and lines of credit, commercial business loans, and consumer loans. The company also provides securities and insurance products, as well as automated teller machine and online banking services. As of September 30, 2010, it operated a main office and six branch offices located in Philadelphia and Delaware Counties. The company was founded in 1886 and is headquartered in Philadelphia, Pennsylvania. Prudential Bancorp, Inc. of Pennsylvania is a subsidiary of Prudential Mutu al Holding Company.
Advisors' Opinion:- [By Jim Royal]
I really like to invest in bank demutualizations, and my Special Situations portfolio is back to buy another one: Prudential Bancorp (NASDAQ: PBIP ) . In October, the bank completed its second-step conversion, making it a fully public institution, but it trades at just 73% of tangible book value. That's tremendously cheap for a profitable, albeit slightly, bank. So I'm stepping up to buy the stock.
10 Best Financial Stocks To Own Right Now: Tryg A/S (TRYG)
Tryg A/S, formerly TrygVesta A/S, is a Denmark-based insurance company. It is the parent company within the Tryg Group, which supplies insurance services in the Nordic countries. The Company is organized in four business areas, namely Private, Commercial, Industry and Sweden. Private sells insurance products to private individuals in Denmark and Norway. Commercial sells insurance products to small and medium-sized companies in Denmark and Norway. Industry sells insurance products to industrial customers under the Tryg brand in Denmark and Norway and the Moderna brand in Sweden. Sweden sells insurance products to private individuals in Sweden under the Moderna brand name. As of December 31, 2012, the Company had one wholly owned subsidiary, Tryg Forsikring A/S. On May 1, 2013, it sold its Finnish branch. Advisors' Opinion:- [By Sofia Horta e Costa]
Commodity producers slid as the release fueled concern about the slowdown in the world�� second-biggest economy. Burberry Group Plc (BRBY) gained 4.8 percent after the company�� spring-summer collection helped increase retail sales in its fiscal first quarter by more than analysts had estimated. Tryg A/S (TRYG) added 3.3 percent after posting better-than-forecast pretax profit as cost cuts offset increased weather-related claims.
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