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Summary: Despite years of industry hype about how social media can be a valuable marketing tool for advisors, especially among younger prospects, millennials don’t actually want to communicate with financial services firms on social networks. Only 0.03 percent of millennials want firms to contact them via social media, according to a new study by BNY Mellon and a team of undergraduates at the University of Oxford.
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Summary: Members of Generation X face the daunting task of planning for a retirement that will likely include no pension, a potential Social Security haircut, stagnant wages and high education costs for them and their children.
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Summary: The latest performance results are in, and 2013 was a great year to be in the financial advice business.Financial advisory firms boosted assets under management last year by 21% to an average of $502 million, the 2014 InvestmentNews Financial Performance Study of Advisory Firms found. That's up from $414 million in 2012. AUM, in fact, has increased an average of 20% every year since 2009.
Added on September 2014 in Form an RIA
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Summary:Responding to the preliminary results of the recently released survey by the North American Securities Administrators Association, which found that the majority of small and midsize state-registered advisors have tech or cybersecurity policies in place and that only 4.1% of the participants were aware that they had suffered a cybersecurity incident.
Added on September 2014 in M&A Issues
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Summary: Investment banks, custodians and boutique lenders are starting to rally behind independent RIAs in need of capital for merger deals, according to Institutional Investor.
