Added on March 2014 in Form an RIA
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Summary: Why should an ad-viser spend time preparing for a regulatory exam? Only about 60% of SEC-registered investment advisory firms have undergone a compliance examination. Congress blusters about holding the Securities and Exchange Commission accountable to do more but simultaneously denies funding necessary to make that practical.
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Summary: It seems to me that all the preaching about succession planning is having the opposite effect on those we hope will get the message. It's kind of like when your parents forbade you to hang out with “so-and-so”—and then you went out of your way to have a clandestine encounter with that person, even though you knew he or she was bad for you. To add emphasis, your rendezvous took place in the most disreputable location you could find.
Added on February 2014 in Join an RIA
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Summary: dvisers can help the financial services industry boost its historically poor ethnic diversity even without making those hires themselves.Minority financial planning students need help polishing their communications skills, according to Luke Dean, director of William Paterson University's financial planning program. About 51% of the Wayne, N.J., school's students are minorities.
Added on February 2014 in M&A Issues
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Summary: Some financial advisers have found a way to work less, keep their best clients and even pocket a little change. These advisers, many close to retirement, are selling their smaller client relationships to another adviser or firm. Though it can be an emotionally difficult process, some think it's a great solution to help aging advisers, struggling junior advisers and even investors with lower account sizes.
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Summary: Marketing is a necessity for financial advisors, no matter how big your brand is or how much you manage, according to Beverly Flaxington, a practice-management coach in Medfield, Mass. The reason? “Because everybody Googles,” says Flaxington. “Before anyone calls you, they do a search, and if you’re an advisor who’s not getting found in Google searches, if you don’t have a functional and updated website, if you’re not seen online being quoted in articles, then people will wonder what’s wrong with you.”
