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Summary: A wealthy family's expectations that its charitable foundation will thrive for many generations can crash in just one.Too often, says philanthropy consultant Mollie Bunis, the family really hasn't planned for the day when the founder is no longer around. That happened not long ago with a multimillion-dollar family foundation in the South, she recalls: The patriarch died and, while he had children and grandchildren, no one had bothered to name a successor.
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Summary: A looming advisor shortage and a limited pool of prospects means retaining advisors is the top job for many managers. Here's how to spot, and keep, talent on the brink of jumping ship. Workplace consultancy Rainmaker Thinking recently surveyed 41,000 professionals (6,000 of them from the financial services industry) and found that 46 percent felt “stuck” in their current job, and had for at least the past year. Twenty-five percent said they have felt that way for over three years.
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Summary: The roots of financial planning are in those insurance agents and stockbrokers who sought out a way to deliver better advice and guidance to their clients. Similarly, the roots of financial planning education have long been in ‘adult education’ certificate programs that took experienced and active advisors back to school to gain the educational knowledge they needed to sit for the CFP exam and earn their CFP certification.
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Summary: A large number of investment advisers may be getting away with violations of securities laws and other misconduct because the Securities and Exchange Commission does not examine them as closely as it does brokers, according to Daniel Gallagher, a member of the commission.
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Summary: When David Rockefeller was chairman and CEO of Chase Manhattan Bank (now part of JPMorgan Chase Bank) he created a strategy he called “management by wandering around.” That is, he would spend as much time as he could actually wandering around the bank’s headquarters talking to employees that he didn’t regularly come in contact with, from receptionists and secretaries to managers and vice presidents.
