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Summary: RIAs are too focused on operating a practice rather than building a sustainable business, according to a white paper from the Alliance for Registered Investment Advisors released at the Schwab IMPACT Conference in Boston on Wednesday.
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Summary: Cybersecurity “enforcement has begun,” Thomas Hibarger, managing director of Stroz Friedberg, warned Wednesday at the Securities Enforcement Forum in Washington, adding however that enforcement is “not a trend yet.”
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Summary: Financial firms — including financial advisers — are still coming up short in managing their cybersecurity efforts, according to External IT, which provides unified cloud computing to the financial services industry.
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Summary: Depending on what survey you read, as few as 1 out of 5 financial advisers have a binding and credible succession plan in place. The lack of one could cost you and your heirs millions of lost dollars and is a disservice (and some would say a fiduciary breach) to your clients. Ask yourself, if you die tomorrow, will you feel good about how well your clients will be taken care of and how well your heirs will be compensated?
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Summary: To ensure that their students are receiving the real-life skills they need to succeed, the faculty and administrators in charge of these schools’ financial planning curriculums are working closely with local advisors to repurpose their programs. The mutual objective is to prepare the schools’ graduates to walk out of their classrooms and into jobs at nearby wealth management firms.
