The U.S. Securities and Exchange Commission plans to launch a sweeping set of reforms designed to ensure that large asset managers are properly dealing with risks and have plans to wind down in the event of a major market disruption....More
Every single investment advisory firm registered with the Securities and Exchange Commission should be examined every year, said Harvey Pitt, the former SEC commissioner, and the SEC should certify outside auditors to conduct the exams....More
The Securities Industry and Financial Markets Association is not backing down in its opposition to the Financial Industry Regulatory Authority’s proposed Comprehensive Automated Risk Data System rule, saying at a media briefing Thursday it will utilize every tool available....More
It's that time of year when the compliance department hands out the annual compliance questionnaire. It comes with an overwhelming sense of anxiety to many advisors even if they have nothing to fear....More
Research shows that while the average age of financial advisors has gone up, the percentage of advisors that don't have a succession plan in place has gone up as well. Why don't more advisors have a plan, and how can the industry better prepare for the future.
Technology is a critical differentiator in today's digital age for running an efficient and effective practice. Those entrepreneurial financial advisors and wealth managers who are leveraging technology in their firms are creating better client experiences, improving cash flow, generating new revenue streams, and scaling their services....More
Shedding non-core activities can free advisors to focus on what’s really important; meeting with clients and engaging in other revenue generating activities. Outsourcing the investment management function of the practice is one way to do so. For those still skeptical—the proof is in the results....More