Imagine you are a dutch diamond dealer who sources

Representatives deserve to know that what they are paying is a true cost and what they are receiving is the best possible commission from a vendor. In addition to the spreads broker-dealers receive from payout grids, there are two other primary sources of broker-dealer profit: revenue sharing and markup.

For example, on mutual funds and variable annuities, broker-dealers will negotiate with vendors to earn basis points bps on assets or sales of products their reps sell. Broker-dealers will typically make 1 to 10 bps on either assets or sales of products, with small firms making only 1 or 2 bps and larger firms making 8 or more. Larger firms also have the ability to make these basis points on both assets and sales as they leverage their scale to obtain more.

Markups, such as ticket charges, are something that representatives recognize as a profit center when they look at their various costs and see that firms differ on what they charge for them. When broker-dealers have dual clearing, they dilute their ability to negotiate lower costs because their assets are split between multiple clearing platforms.

As they grow, they are often able to renegotiate to obtain lower costs from the clearing firm. They may then choose to offer reps a lower ticket charge. Once you account for revenue sharing and markups, there are several profit center areas that remain well-hidden, with reps unaware that they are paying additional costs or missing out on additional commissions.

There are three areas that I regularly research as part of my due diligence on broker-dealers to ensure that the representatives who I consult with get everything they deserve—both for themselves and their clients. Third-party money manager markups. Frequently, reps are unaware that they may be paying management fees that are 10 to 15 bps higher than what the fund manager actually charges. Ina representative called me, irate at his broker-dealer after calling Fidelity Institutional and inquiring what the management fees were on the managers he used.

To his surprise, his broker-dealer was marking up the management fee 10 bps. Also inI did a due diligence trip to a large, publicly traded broker-dealer.

The response was refreshing in his frankness, compared with previous heads who would respond as if I had caught them in their underwear, giving me caught-off-guard, uncomfortable responses. But if it is a smaller producer, we would go with 25 bps. Prior to this visit, I had been witnessing markups in the 5 to 15 bps range.

Further evidence that this markup is kept largely in the dark was a conversation with a money manager wholesaler. The wholesaler shared that some broker-dealers contact them with instructions that if one of their reps asks about the management fee they charge, they should instruct them to contact their broker-dealer because the amount the manager charges is different from what the broker-dealer charges.

A growing trend is for BDs to bring advisory platforms such as Envestnet in as an internal platform. While broker-dealers can charge what they like, I take issue with how these markups are frequently imposed without representatives being aware of the added costs to their clients.

My research shows that about one-third to one-half of independent broker-dealers are imposing markups on third-party managers. Small and midsized broker-dealers tend to do little if any markup, while larger broker-dealers will charge as high as 25 bps.

If you are curious whether you are being charged this markup, call one of the outside advisory vendors such as Schwab or Fidelity to verify the management fee of managers you work with through their platform.

Variable universal life insurance VUL. Reps doing large amounts of VUL may have their own contracts in place for getting above target premium, or they may work through an insurance aggregator who leverages insurance companies for greater backdoor allowances. BDs may have negotiated backdoor allowances with product vendors, but they pocket the added premium and only pay the base target premium to the representative. If the representative is a substantial producer in VUL, the broker-dealer may allow them to have their own contract with the insurance company, but frequently they will not.

If you do substantial VUL, see if your broker-dealer passes through the backdoor allowances to the reps.By Bruno WaterfieldAntwerp. A window shopper in search of a diamond engagement ring in the city would give Hoveniersstraat little thought, perhaps only pausing to wonder at mix of Hassidic Jews, Gujarati Indians, Russians, Lebanese and Chinese milling in the area.

A real-life diamond heist on the Riviera. Diamond 'butchered'. Fog causes car pile-up in Belgium. Nazi terror threat to Belgian crown princess. Inside their safes are uncut, cut and polished gems worth hundreds of millions more.

The hub of diamond prospectors, cutters and polishers can trace its origins back to the 16th century but took global pre-eminence in the 19th century when a combination of low wages and relaxed regulation pulled the trade to Antwerp from Amsterdam. Even when the guest of a well-known diamond trader, security when entering the Antwerpsche Diamantkring, at number 2 Hoveniersstraat, is tighter than at any global summit of world leaders. Visitors must hand over their passport and have the print of their right index finger scanned before receiving a swipe card.

The details are then checked on criminal record databases. Undesirables will trigger a silent security alarm and find the armed police waiting for them when they try and leave the building. Hoveniersstraat does not just attract traders seeking to cash in on the desire for diamonds of great beauty. On October 20,a car bomb exploded near a synagogue in the Hoveniersstraat. Three people died and the street was devastated. Beyond the security barriers the Diamantkring is like any other office block, with its empty, slightly shabby strip-lighted corridors and nondescript company name plates on the doors.

The rooms and desks are stark. Phones are ringing as the traders, ducking in an out of the different offices hear about the deals on offer. The parcels of diamonds are carried in trays slotted into scuffed looking briefcases. One trader shrugged when she was asked how much the tray in front of her was worth. But these are not my best. It is only when one of the rather dirty looking pebbles is held up to the light that the lambent beauty and lustre of the diamond shines through the rough exterior.

Vashi Dominguez, a Spanish-Indian entrepreneur and founder based in London, granted The Telegraph rare access to the beating heart of the diamond trade. He estimates that for every carat, a fifth of a gram, of rough stone scattered in front of the men grading them, up to 1, tons of earth has been mined to get at them.

The owner of Vashi. He explains the rigid concentration of those sorting rough diamonds, for valuation ahead of cutting and polishing, a task that only a skilled human perform.

Technology can tell you the size and the shape but not the colour and clarity. Even with those 16, categories there are many others.

They are like fingerprints. So every time you look at a diamond with a loop or a microscope you are looking at something unique. If you are not excited about this industry, what are you going to get excited about? The rough diamonds look a bit like broken glass but once they are polished you can see all the lustre, sparkle and brilliance, the life and colour.

For me, even after 15 years in the business it is sheer excitement. There has never been a better time to invest. Evidence that Taylor, who is now serving a year sentence in a British jail gave Naomi Campbell a bag of uncut stones at a star-studded party hosted by Nelson Mandela sat uneasily alongside harrowing accounts of atrocities, amputations and killings.

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German news. Italy news. Spanish news.The famous New York diamond dealer Harry Winston heard about a wealthy Dutch merchant who was looking for a certain kind of diamond to add to his collection.

Winston called the merchant, told him that he thought he had the perfect stone, and invited the collector to come to New York and examine it. The collector flew to New York and Winston assigned a salesman to meet him and show him the diamond.

When the salesman presented the diamond to the merchant he described the expensive stone by pointing out all its fine technical features. But, instead of talking about the technical features of the stone, Winston spoke spontaneously about his own genuine admiration of the diamond and what a rare thing of beauty it was.

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Abruptly, the customer changed his mind and bought the diamond. I pay him a good salary for what he knows. But I would gladly pay him twice as much, if I could put into him something I have and he lacks. You see, he knows diamonds, but I love them. Do you just know about Christ? Do you unconsciously equate knowing the Bible or theology with really loving Him? Or, do you know Him and love Him? Is your Christianity rooted solely in the intellectual technicalities of the faith?

Or, are you emotionally and spiritually in love with your Savior? Does He command your best thoughts, draw out your deepest desires, and secure your happy and willing allegiance? Have you experienced His wooing? His attractive presence? Is there a joyful spontaneity about your relationship? When I read this passage the first time and many times sinceI bowed my head and asked God to grant me the same heart he gave Paul. So free! So fearless!

So all encompassing!THE first known finding of a diamond in South Africa was as recent asand this diamond was found by accident and could not for a time obtain any credence. It is first known to have been seen at the house of a Dutch farmer named Jacobs, in the northern limits of the Cape Colony, and south of the Orange River.

It had probably been brought from the bed of the stream or from the other side of the river. The "other side" vould be in Griqualand West, the land of diamonds. As far as I can learn, there is no idea that diamonds have been deposited by nature in the soil of the Cape Colony proper. At Jacobs's house it was seen in the hands of one of the children by another Boer named Van Niekerk, who observing that it was brighter and also heavier than other stones, and thinking it to be too valuable for a plaything, offered to buy it.

But the child's mother would not sell such a trifle and gave it to Van Niekerk. From Van Niekerk it was passed on to one O'Reilly, who seems to have been the first to imagine it to be a diamond. He took it to Capetown, where he could get no faith for his stone, and thence back to Colesberg on the northern extremity of the Colony, where it was again encountered with ridicule.

But it became a matter of discussion, and was at last sent to Dr. Atherstone, of Grahamstown, who was known to be a geologist and a man of science. He surprised the world of South Africa by declaring the stone to be an undoubted diamond. It weighed over 21 carats and was sold to Sir P. In and various diamonds were found, and the search for them was no doubt instigated by Van Niekerk's and O'Reilly's success; but nothing great was done nor did the belief prevail that South Africa was a country richer in precious stones than any other region yet discovered.

Those which were brought to light during these two years may I believe yet be numbered, and no general belief had been created. But some searching by individuals was continued.

The same Van Niekerk who had received the first diamond from the child not unnaturally had his imagination fired by his success. Either in or he heard of a large stone which was then in the hands of a Kafir witch-doctor from whom he succeeded in buying it, giving for it as the story goes all his sheep and all his horses. It weighed 83 carats, and is said to be perfect in all its appointments as to water, shape, and whiteness.

It became known among diamonds and was christened the "Star of South Africa. Hunt and Rosskill from whom it was purchased for the delight of a lovely British countess. Even then the question whether this part of South Africa was diamondiferous had not been settled to the satisfaction of persons who concern themselves in the produce and distribution of diamonds. There seems to have been almost an Anti-South African party in the diamond market, as though it was too much to expect that from a spot so insignificant as this corner of the Orange and Vaal Rivers should be found a rival to the time-honored glories of Brazil and India.Which one of the following sources is most likely to give you objective information about the expected performance of a new car model?

Newspaper ad B. Dealer's local radio commercial C. Manufacturer's television advertising D. Consumer Reports magazine. This is the question?

imagine you are a dutch diamond dealer who sources

To make supporting points it is important that one finds relevant, accurate, and reliable sources. What should you consider when looking for helpful sources? What are some red flags that indicate you should avoid a particular source? Identify and discuss the criteria that were used to evaluate those three sources and. Disclosure of PSI information enables the defendant to contest information that he or she considers unfair and to be protected from the effects of unfounded information, but disclosure may cause all of the following EXCEPT: A.

When should you begin choosing appropriate sources for your topic? This is what the paper is about. Choose a recent within the last 2 years article written for parents, teachers, or other family members on how to optimize the development of children any age between conception through adolescence may be used or written. When evaluating online sources, one of the points to remember is that, all information listed on the internet is not reliable. In essence, when reading this blog titled "The Nation," I can not determine that the information is reliable because the source.

Students should follow the steps in Finding, Evaluating, and Utilizing Information to complete a general search for reliable sources: 1 What is the purpose and affiliation of the organization or author related to the article? Identify which would be more helpful to you if you were looking for information concerning the animals that are used for detecting drugs and explain. Then, determine which sources are reliable and which are not. Explain your answers.

My answer: I cannot put the websites: When evaluating online sources, one of the points to remember is that. The purpose of evaluating the sources of your research material is to test: A. I am going to write an article about a semi-famous person. I won't be able to personally interview this person, so all of the information for my article will have to come from other sources.

I realize that I will have to give credit to these sources with. What is the purpose and affiliation of the organization or author related to the article? What are the most effective and ineffective uses of objective assessments for instructors and learners?

What is your view on the relative advantages and disadvantages of using objective tests? How might you incorporate objective assessments in your. When evaluating online sources, one of the points to remember is that all information listed on the internet is not reliable.

Antwerp's secret heart of the £31bn global diamond trade

In essence, when reading this blog titled "The Nation," I cannot determine that the information is reliable because the source. The readings for the week identified five questions for evaluating the credibility of online sources quoted below.

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Is the. The readings for the week identified five questions for evaluating the credibility of online sources quoted below : 1. Which of the following is not an objective of synthesizing sources?Find out how you can buy a stunning diamond engagement ring like this…. For the uninitiated, buying a diamond ring can be a scary undertaking.

imagine you are a dutch diamond dealer who sources

If you want to buy a beautiful, brilliant diamond engagement ring without getting ripped off, finding a trusted diamond dealer to work is absolutely critical.

Now, there are literally thousands of jewelry dealers available, and access to them has never been easier with the help of the internet. You are also going to find out who are the best dealers in the industry with a good reputation and a proven track record of delivering high quality diamond rings. This goes for both online and offline dealerships.

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The quickest and easiest way to find out is to check 3rd party review sites e. Trustpilot or iVouch and dealership websites for customer testimonials. Watch out for negative reviews and complaints that were made by customers.

But, the way they handle or behave would reveal a lot about their business practices. In fact, they are banking on you to be inadequately educated so that they can overcharge you for an inferior stone with an inaccurate report. By comparing the information, you will be able to figure out a rough average and have an idea of whether you are overpaying for a stone. Now, I am not referring to sales people here but qualified personals who can handle technical questions about diamonds knowledgeably.

You will want this to be in writing in case any disputes arise. The following merchants are listed here because they had all upheld a certain level of service to both online and offline customers.

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More importantly, all of them have transparent business practices and strictly abide by the guidelines stated above. James Allen is a vendor that upended the jewelry industry with their patented video technology. With their video listings, James Allen allows you to scrutinize a loose diamond to the tiniest details and helps you see exactly what you are buying. This helps you understand what you are buying and gives you the ability to pick out eyeclean diamonds easily.

White Flash is a highly reputable diamond dealer based in Houston, TX. Besides top-notch customer service, White Flash offers a 30 day money back guarantee and generous upgrade policies.

Combined with a portfolio of inhouse and designer settings for you to choose from, you will be able to find the perfect ring regardless of your budget. You can find out more about my personal experience with White Flash via the videos below.

Watch me open the package I received from FedEx and also a full-length review of the diamond ring I bought. Brian Gavin Diamonds is the pioneer of super ideal cut diamonds that display the best sparkle and brilliance. His signature diamonds are carefully curated for high performance and the in-house craftsmanship standards of their settings are superb. They also proudly stand behind their products with a day full refund policy. This list is not exhaustive and comes from the tons of online sites that I had personally tested so far.

3 Hidden Broker-Dealer Profit Centers Exposed

I would love to share a list of sites that DO NOT meet my expectations and warn you of who to stay away from. One reason is that there are simply too many of them and would take more than a page to fill think eBay dealers, Amazon and the majority of brick and mortar stores.

The other reason is that there might be legal ramifications for singling them out. Before we end this article, it would be a good idea for you to spend some time learning how to pick a diamond and have a rough idea of how diamonds are priced.

Not only would better knowledge lead to a much better deal in the long run, it will also help you avoid bad decisions. I live in Stamford, CT, and most people around me go to the diamond district to buy engagement rings. I went last week to visit a couple of wholesale diamond dealers near me and was completely overwhelmed. I went into about 20 stores and got a mixture of personalities. Some jewelers were very nice and some were the complete opposite.Bloomberg Answers. Economic Indicators.

imagine you are a dutch diamond dealer who sources

How accurately do GDP statistics portray the economy and why? A country is undergoing a boom in consumption of domestic and foreign luxury goods. In one year, the dollar growth in imports is greater than the dollar growth in domestic consumption. Assuming nothing else has changed, what happened to GDP?

Antwerp's secret heart of the £31bn global diamond trade

Here is the most important economic data for Australia and Sweden. Which economy did better year-over-year YOY in the fourth quarter of compared to the fourth quarter of ? Use the two charts to investigate. Here is the economic calendar for the UK for August Based on these major indicators, how did the UK economy perform overall?

This chart was captured in mid At that point in time, which of the following terms would have described the growth in the Chinese economy predicted in this pop-out table? Currency Market Mechanics 25 min.

Which country is both the fourth biggest importer and exporter? Inthe Mexican peso declined against the U. What generally happens when a central bank unexpectedly increases interest rates? Central Banks and Currencies 15 min.

The orange line shows the number the number of dollars it takes to buy one pound sterling. The UK is a net importer, meaning the value of imports exceed the value of exports. What can be reasonably surmised from the chart about large UK corporations?

In earlythe same Germany machinery company has interest from four prospective clients from emerging markets: Indonesia, Brazil, Russia and South Africa. They all want to buy ten machines, but the factory can only produce ten in time. Therefore, the company has to choose only one client. Given the volatility of the domestic currencies of the four prospective clients, the CFO would like to choose the client which is least likely to cancel the order due to currency volatility.

The invoice comes due on June 30, According to historical currency volatility alone, which prospective client would be least likely to cancel the order? What is the median estimate for the number of Japanese yen per euro for calendar year ?

Imagine you are a Dutch diamond dealer who sources diamonds from South Africa. It is March The miner wants you to demonstrate your commitment by either giving him a million rands now or providing that you have an FX forward contract for the full amount. Currently, the exchange rate is

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