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Summary: Because a founder’s attachment to their practice has an emotional component, it’s possible they will want stay past when they said they would retire, according to the Journal. That’s why it’s important to lay out in writing an actual timeline for their departure, Vanessa Oligino, director of business performance solutions at TD Ameritrade Institutional, tells the paper.
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Summary: By April 2017, investment advisory firms will have to be in compliance with the Department of Labor’s new fiduciary rule requiring them to adhere to a “best-interest standard” in advising their customers.
Added on September 2016 in Form an RIA
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Summary: For some time, banks and credit unions have been urging customers to change their business from transactional to fee-based. Those who have resisted have a variety of reasons supporting their status quo position. However, at this point, conversion appears to be almost mandatory.
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Summary: In the span of barely 10 years, some of the world’s largest companies have sprouted seemingly out of nowhere, dominating industries whose incumbents have been around for decades, despite the upstarts not actually producing any goods or services. The key driver that makes the platforms so extraordinary: network effects, or the phenomenon that the more people use the platform, the more desirable of a marketplace it is for other people to use.
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Summary: Many writers, including me, have discussed the ways the U.S. will be affected by people living longer lives. The big question for the developed economies is how these changing demographics will affect their social safety nets and reduce productivity when there are many more older people. But how will the changes affect the RIA business? I rarely hear this question. Yet demographics will affect the ways RIAs offer service and the tools they use.
