Added on December 2017 in Form an RIA
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Summary: The bylaws of the Financial Industry Regulatory Authority Inc. state that it must always have more public representatives than industry representatives on its board of governors. That makes sense for a regulatory body that is supposed to be dedicated to investor protection and market integrity. But a new report raises, yet again, the question of whether Finra is serious about its pledge to protect investors, or is simply paying lip service to that mission.
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Summary: It was not long ago when a public relations program designed at getting your name in front of potential clients was pretty simple: get your name in the local media on a regular basis, do some local charitable work and hang out at your local country club.
Added on November 2017 in Form an RIA
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Summary: This news comes with little surprise and we fully expect that Merrill Lynch will soon follow suit. Certainly announcements like this cause an abundance of emotions from fear and anxiety to anger and everywhere in between for advisors who were protected by the seminal document.
Added on November 2017 in Form an RIA
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Summary: First, a disclaimer: We are not lawyers, and this post does not contain legal advice of any kind. As operational consultants that advise financial advisors on the nuances of starting an RIA, we always suggest advisors consult with legal counsel before embarking on a breakaway transition.
Added on November 2017 in Form an RIA
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Summary: UBS Wealth Management Americas said Monday morning it was exiting an industry agreement known as the protocol for broker recruiting, which has made it easier for brokers to change firms. UBS follows the lead of Morgan Stanley, which told its employees at the end of October it would no longer work under the protocol.
