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Summary: There are tried-and-true battle plans as firms labor to recruit planners into their ranks: poach from rival firms, lure brokers away from the wirehouses, train new graduates to become CFPs, etc.But as HD Vest President and CEO Roger Ochs sees it, the practice of essentially trading advisors with other firms is a zero-sum game. Instead, HD Vest - which believes that a tax return is a "road map" that can help a professional build a comprehensive financial plan - seeks to fulfill its growth strategy by turning CPAs into CFP/CPAs.
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Summary: Courting millennial investors is a key challenge confronting the financial services sector. Industry professionals on Thursday discussed what these young investors want from their financial services firms during a panel discussion at SIFMA’s private wealth conference in New York.
Added on April 2014 in Form an RIA
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Summary: Securities and Exchange Commission Chairman Mary Jo White said Tuesday she is telling her staff that examining small investment advisors is important.The SEC’s use of computer modeling to determine which advisors to examine might not bring up large numbers of smaller advisors because they are not as risky as larger operations.
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Summary: Pay for financial advisors may start out slow, but it picks up steam, to make it — at the height of one’s career — among the most lucrative jobs in the financial-service industry, says InvestmentNews.
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Summary:With so many advisers contemplating retirement, the chatter about succession options has become constant. Forget valuations, terms of the deal and buy/sell agreements. Far before you get to that point, you need to anticipate what the future business could and should look like. Do you want the firm to continue without you (internal succession), or do you want to sell your business to another firm (external succession)? Each approach has its pros and cons.
