Added on April 2014 in Join an RIA
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Summary: As financial planning education began to shift to colleges and universities in the 1980s and 1990s, culminating in an explosion of degree-based financial planning programs in the early 2000s, this process of how a financial planner is trained began to change. While the first generation of financial planners were salespeople who became financial planners, this next generation of financial planners are entering the workplace and are trained as planners from the start.
Added on April 2014 in Form an RIA
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Summary: More financial advisors are firm-hopping this year, according to industry experts. By way of explanation, insiders cite last year’s market surge, which left brokers with solid “trailing 12” production numbers and clients with a warm, fuzzy feeling that could make them loyal to their advisors. Fear of impending compensation-disclosure rules may also be prompting brokers to make their moves now. But whatever an advisor’s reason for switching firms, experts agree that doing so is easier than it used to be, thanks to the Protocol for Broker Recruiting, which will be 10 years old this August.
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Summary: Despite seeing the highest assets under management and compensation levels since 2007, many financial advisors appear to be falling behind when it comes to positioning themselves for future success, according to a new Fidelity study. Almost all advisors (95%) expanded their books of business in the last 12 months, with average AUM at $62 million and average compensation at $240,000, the Fidelity Advisor Insights study found.
Added on April 2014 in Form an RIA
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Summary: Now that the SEC has allowed advisers to use third-party client reviews on their websites or social-media pages, it's time to figure out what kinds of uses will run afoul of industry regulators. Test your compliance knowledge with these five client review sharing scenarios to figure out if you're up to speed.
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Summary: Mega advisor teams with $500 million or more in assets under management control 42% of advisory marketshare, and are best poised to attract high-net-worth clients, according to a new report by Cerulli Associates.
