<b>The Takeaway:</b> Help! My adviser is trying to put me into a wrap account!

Portfolio

Radically different approaches to the dividend ETF: “VIG has a 1.2% allocation to utilities, whereas utilities is the largest sector weighting in DVY at 30.2%.” (ETF Trends)

And all of a sudden everyone became a “tactical” adviser, at precisely the wrong time.  (The Reformed Broker)

Oh boy – “BofA: 92% Of Investors Are Expecting A Great Summer”  (Business Insider)

Bill Gross has just precisely pinpointed the top of the bond market for us. Which is helpful.  (Investment News)

People can’t predict markets but markets can predict people.  (Rick Ferri)

The Biz

Tax Freedom Day is arriving across America this week.  (Tax Foundation)

Banks think they’re just going to waltz into the wealth management biz, gonna be tougher than that.  (Financial Planning)

What dollar figure is Jamie Dimon worth to JPMorgan shareholders? JPM – Jamie Dimon = Citigroup? BAC?  (Working Capital)

Carl Richards on the adviser action bias and a parallel with soccer.  (Behavior Gap)

“Help! My adviser is trying to put me into a wrap account!”  (Brightscope)

Outliers

Literally Every Strategist On Wall Street Has Been Wrong About The Stock Market  (Business Insider)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.