Added on April 2014 in Form an RIA
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Summary: Wall Street's self-regulator is no longer trying to extend its reach to registered investment advisers.Finra oversees brokers, who operate under a distinct set of rules from registered investment advisers, or RIAs, who are supervised directly by the Securities and Exchange Commission and the states.
Added on April 2014 in Join an RIA
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Summary: Independent firms are gaining traction among a key group of financial advisers who once shied away from the channel: the $1 billion teams. Although Morgan Stanley and Raymond James were two of the top firms in adding assets in the first quarter, the other three spots were filled by some relatively new players, according to moves tracked by InvestmentNews' Advisers on the Move database.
Added on April 2014 in Join an RIA
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Summary: “The business of America is business,” President Calvin Coolidge is claimed to have said back in the 1920s. That quote isn’t really accurate, but business schools around the country still turn out thousands of grads every year. Majoring in business might be popular (358,000 bachelor's degress were issued in 2009-10), but which jobs pay the best for those who majored in business is an interesting question.
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Summary: Propelled by a sense of urgency, wealth management firms are rethinking the way they train and develop young advisors—a move they hope will crimp the coming talent crisis.More than one-third of U.S. financial advisors plan to retire over the next decade, according to a report from Cerulli Associates in February. In order to keep up with demand, the industry will need to add over 200,000 new professionals.
Added on April 2014 in Form an RIA
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Summary: Last week, the SEC issued new guidance on social media and the Rule 206(4)-1 "Testimonials" rule. While the guidance did not provide much clarity on ongoing sticky issues such as whether LinkedIn "endorsements" constitute testimonials, it did provide important clarification to one key area: third-party adviser review sites
