PAM's Andrew Bloomenthal & Kristen Oliveri

As an advisor, you may be yearning to feast your eyes on your clients’ “away” assets managed by other private banks, multi-family offices, wealth managers, etc. Well, seems like WealthTouch, a financial reporting firm, has come up with just the thing. It’s crafted a Share of Wallet Report program that helps advisors assess how much of the total relationship they are capturing, giving them early notice to figure out how to move those assets in-house. Knowledge is power, and it’s not a bad idea given that—c’mon, admit it—you aren’t always their one and only advisor. Keeping tabs on where clients’ money is might help you out in the long run.

As you sip your single-malt whiskey, contemplating which uncorrelated asset class to steer your clients to, look no further than your drink in hand. “The whiskey market is new and developing. It’s similar to where the wine market was 20 years ago,” says Charles Curtis, head of North American wine sales for auctioneers Christie’s. And while it’s difficult to pinpoint how much money investors can make from whiskey, since there’s no exchange tracking its value, consider this: at a recent auction by Scottish auctioneers Bonhams, 97% of the stock was sold, with the majority of bottles going for well above their estimates. And if the liquor should decline in value? Well, at least your clients can ease their pain with a stiff shot or two.