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Summary: Wealthmanagement.com's annual compensation survey found that one in three advisors work on a team, sharing clients and revenues, compared to the 47 percent of advisors going it alone. About 20 percent say they fall somewhere in the middle, working in a siloed practice but with other advisors, sharing resources and overhead but not clients or revenues.
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Summary:Why are advisors embracing the fee-based practice approach?“The biggest benefit is relations to the client,” said Lewis Walker, president of Walker Capital Management Corp. at Pershing’s INSITE conference. “Clients can see we’re only going to get paid as long as they stay in the game and we keep them happy.”
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Summary: If you're a fisherman, exaggerating the size of the fish you caught is a tradition. When you're an investment adviser, however, exaggerations can get you caught up in compliance problems. Like all business owners, advisers need to sell themselves to prospective clients, but they should never oversell their abilities and experience. Although they might hook a few more clients with exaggerations, they are also likely to lure examiners to their offices.
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Summary: WASHINGTON -- FINRA may have dropped its lobbying campaign for legislation to expand oversight of investment advisors, but the industry regulator is interested in a new proposal from one SEC commissioner to beef up examinations of the RIA industry.
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Summary: Those of us who have been in the independent financial advisory space for some time should feel vindicated when we look at our industry today. Liberated from having to push proprietary products or make top-down sales quotas, independent advisers objectively offer the widest possible universe of financial solutions and services based on their clients' best interests.
