Added on April 2018 in Form an RIA
0 visitor like this article | Viewed 3332 times | 0 comment
Summary: When James Brewer was seeking his own financial adviser in 2005, he was interested in investing in companies that had a history of hiring African-Americans like himself. One adviser he met with was sympathetic and at one point suggested Mr. Brewer consider becoming a financial adviser. A year later, he did just that.
Added on April 2018 in Form an RIA
1 visitor like this article | Viewed 3910 times | 0 comment
Summary: The first thing to consider when contemplating an RIA custodial relationship, is whether a custodian is actually needed in the first place. For advisors who are simply going to charge financial planning fees, and bill clients with a third-party payment processing solution for those finanical planning fees, and while letting clients continue to be self-directed with their actual portfolios (or serve clients who simply don’t have portfolios to invest), then the advisor does need to become an RIA, but doesn’t necessarily need an RIA custodian.
Added on March 2018 in Form an RIA
0 visitor like this article | Viewed 3536 times | 0 comment
Summary:Against an ever-expanding backdrop of mergers, acquisitions and industry consolidation among both broker-dealers and RIAs, a common view is that the solo advisor is doomed. Whether due to the burdens of managing the firm, meeting the rising volume of fiduciary compliance obligations, handling increasingly complex investment or insurance solutions or just doing the planning work in the first place, the presumption is that solo planning is simply becoming untenable — or at least impossible to perform in a cost-effective manner.
Added on March 2018 in Form an RIA
0 visitor like this article | Viewed 3085 times | 0 comment
Summary: The U.S. Court of Appeals for the Fifth Circuit struck down the Department of Labor’s Fiduciary Rule, stating that it was “unreasonable’ that brokers handling investors’ retirement savings should be required to only act in clients’ best interest.
Added on March 2018 in Form an RIA
0 visitor like this article | Viewed 3140 times | 0 comment
Summary: Fidelity recently surveyed a group of financial advisors across different segments of the business about the impact of major firms leaving the Protocol for Broker Recruiting.
