Deals & People July 1, 2011

Windham Capital Adds to Relationship Management Team

Independent investment firm Windham Capital appointed Chris Arnold as vice president, client relationship management.
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Arnold will focus on building business development efforts. He will also manage relationships with financial advisers and other intermediaries, as well as select institutional clients.     

Prior to joining Windham Capital, Arnold served as regional director of Boston-based TS Capital, a distributor of asset management strategies to financial advisers and institutions.  Before TS Capital, he was a vice president of BNY Mellon Asset Management where he developed and managed relationships with professional advisers, family offices and institutional investors.    

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Arnold was also previously a financial adviser at Bernstein Global Wealth Management and a National Sales Manager at Thomson Reuters.  

He earned a Bachelor of Science degree from Fairleigh Dickinson University and holds the Series 7 and 63 licenses.
Data & Research July 1, 2011

Kids Take Pride in Grades, Not Savings

Northwestern Mutual’s financial literacy Web site, Themint.org, conducted a poll that found kids are much more satisfied by – and committed to – succeeding in school than managing their dollars.
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Nearly half (47%) of children said the goal they care most about is “academics (reading, writing, math),” compared to just 5% who said “setting a budget for saving and spending.” When asked about their accomplishments, 45% were most proud of “receiving good grades” versus just 9% who were most proud of “saving money to buy something special.”   

As further proof that kids more value activities for which they gain recognition and positive reinforcement, after academic goals, kids said they were most committed to learning a new skill like playing sports or an instrument (28%) and trying to stay healthy (17%). Boys were much more dedicated to perfecting their athletic and musical skills (46% vs. 15% for girls), while almost a third of girls cited “trying to stay healthy” (30% vs. 1% for boys). “Setting a budget for saving and spending” was a much lower priority for boys and girls alike (4% and 6%, respectively), according to the report.   

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When asked to name the achievement they were most proud of, boys chose “winning a sporting or arts competition” above all other achievements (58%), followed by good grades (29%). The results are flipped for girls, with more than half citing the most pride in “good grades” (53%), followed by 30% that cite “winning a sporting or arts competition.” Again, financial accomplishments were much lower on the list, with only 9% of boys and girls citing “saving money” as the accomplishment they’re most proud of.   

“What these findings underscore is that kids are more willing to stick with a goal if they’re recognized and proud of what they have accomplished ,” said Rebekah Barsch, Northwestern Mutual vice president – market strategy and training. “As parents, we need to also provide positive reinforcement to encourage children to set and reach financial goals.”   

Adults recently polled by Northwestern Mutual also indicated they need more discipline with finances (see “Setting Financial Goals More Common Than Others“). 

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