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Summary: Though subconscious bias favors older white males when prospects choose a financial adviser, many professionals hoping to break through and make a standout first impression can heed the advice of these successful planners. Some say it's all about passion, while others focus on making the prospect feel comfortable and important.
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Summary: Securities and Exchange Commission officials addressed enforcement priorities at the agency, including cybersecurity, insider trading and financial reporting, in a panel discussion at the Rocky Mountain Securities Conference in May. The conference is co-sponsored by the SEC and the Business Law Section of the Colorado Bar Association.
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Summary: The Best Interest Contract Exemption is one of the main pillars of the Labor Department's fiduciary rule. Without it, many brokers and advisers wouldn't be able to continue doing business in retirement accounts under current business practices and compensation arrangements. But with it, there is a way forward (albeit with more compliance requirements and litigation risk).
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Summary: Having a family member in the business is not a guarantee of a robust succession plan. And it is definitely not a guarantee to preserving business value.
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Summary: Go to any seminar on marketing and one of the top suggestions on becoming an elite adviser is to develop a niche. Doctors, airline pilots, teachers, golf nuts, tech employees – the niche possibilities are endless. Having a niche can create efficiency, simplify marketing and make you an expert in the eyes of a well-defined cohort. But is a niche based on what people do – and not who they are – really a wise choice?
