Added on October 2015 in Form an RIA
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Summary: When Mr. Strid, his father and his brother launched their own business, they knew that they would have to manage the human resources, technology and payroll functions that Wells used to handle. But doing so took up more time than they had anticipated, Mr. Strid says. In response, they decided to have Mr. Strid’s brother Paul assume the role of chief operating officer to handle the operations workload. They then hired another adviser to service Paul’s clients.
Added on October 2015 in Form an RIA
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Summary: For financial advisers who launch their own independent practices, having equity is king. Those ownership stakes are very different from the shares many held in big securities firms that previously employed them. The private-company equity comes with big advantages but also risks.
Added on October 2015 in Form an RIA
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Summary: Cyber attacks are causing real-world losses across the spectrum of the economy, and financial companies also have to contend with the subsequent threat of regulatory fines resulting from any breaches. For better preparedness, financial-advice practices need to have a solid plan and a tool kit of software, CNBC.com writes.
Added on October 2015 in Form an RIA
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Summary: Compensation is the wrong way to make your decision. The decision starts and ends with clients, as highlighted in these four questions you should be prepared to answer.
Added on October 2015 in Form an RIA
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Summary: At TD Ameritrade Institutional's advocacy summit, several officials raised the concern that it will only take one major scandal to force the issue of expanding advisor exams. When that happens, policymakers aren't likely to adopt any framework that the industry could support, but could instead turn examination authority over FINRA, which some view as the least desirable outcome.
