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Summary: The time is right for financial advisors to make the switch to retainer-based planning, as this fee model is fast overtaking the industry. Making the switch to retainer-based financial planning can help a firm gain a foothold with high-net-worth clients. This method of planning makes regulatory compliance straightforward and reduces the risk of sanctions.
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Summary: When we look at back at the biggest changes in our industry’s regulatory and legislative landscape in 2019, the headline items will no doubt be the SEC’s Regulation Best Interest and passage of the SECURE Act.
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Summary: Introversion is more common than most people think, researchers have found. Introverts are everywhere, even in people-focused careers like financial planning.
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Summary: We live in an age where a financial advisor's name and reputation can be built up or shattered based on his or her online presence. Google Search and online reviews are now standard resources investors use to research and vet financial advisors. Knowing what’s at stake, building and maintaining a strong, positive online footprint must be a priority for growth-minded advisors.
Added on December 2019 in Form an RIA
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Summary: PFI Advisors continues to tout the benefits of professional management for RIAs. As Rich Gill of Wealth Partners Capital Group recently stated on the Mindy Diamond on Independence podcast, the first two non-client-facing executive-level hires for RIAs are typically the chief operating officer and the chief compliance officer. The COO is brought in to "…make sure the trains are running on time," he said, while the CCO is hired to "de-risk the business."
