H.D. VEST TURNS 25Broker/dealer H.D. Vest, which pioneered the strategy of using CPAs and tax professionals as financial planners, is celebrating its 25th anniversary. Since its founding in April 1983, 47 states now allow CPAs to accept commissions for advising their clients and implementing investment planning strategies and products. Currently, H.D. Vest has some 5,400 independent advisors.


Morningstar Investment Services, a registered investment advisor and subsidiary of Morningstar Inc., has introduced a managed account service comprised of five portfolios that use exchange-traded funds. Morningstar Managed ETF Portfolios use a “core and explore” investment process, a strategy combining “core” positions that provide exposure to broad asset classes with “explore” positions that capitalize on opportunities in the markets. Among other factors, the ETF-evaluation system assesses the composition, structure and liquidity of individual ETFs, and marries it to research on fundamental factors such as valuation and growth drivers of the underlying securities. For more information, visit www.morningstar.com.


SS&G Wealth Management, a unit of SS&G Financial Services, is celebrating its 10th anniversary. The unit was formed in 1998 to offer investment management, financial planning and insurance for both businesses and individuals, and now comprises 10 members. Over the years it has also expanded its breadth of services to include insurance portfolio audits, estate planning, and corporate 401(k) plans.

FASB Issues Statement on derivatives

Norwalk, Conn. — The Financial Accounting Standards Board has issued a statement intended to improve financial reporting on derivative instruments and hedging activities.

The statement requires enhanced disclosures to enable investors to better understand derivatives’ effects on an entity’s financial position, financial performance and cash flow. FASB Statement No. 161, Disclosures about Derivative Instruments and Hedging Activities, is effective for fiscal years and interim periods beginning after Nov. 15, 2008. The new standard requires disclosure of the fair values of derivative instruments and their gains and losses in tabular format.

It also provides more information about an entity’s liquidity by requiring disclosure of derivative features that are credit risk-related. The statement requires cross-referencing within footnotes to enable statement users to locate important information.

In addition, FASB issued a staff position aimed at obtaining feedback on its proposed guidance for increasing disclosures about the types of assets held in retirement plans.

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