The National Conference of Commis-sioners on Uniform Laws is busy redrafting the model rules that control how charitable organizations manage their funds. Significant proposed changes include: eliminating the requirement that charities hold on to...
A new lawsuit against Bank of America should give trustees at all major institutions pause. The lead plaintiff, Ellen Jane Kutten, has many complaints but the driving force behind her suit seems to be displeasure that her family's local bank...
Consider this scenario: You meet with two clients, husband Bill and wife Ann, and discover that Ann is upset because their oldest son, Tom, and his wife, Kate, have stopped calling them since the birth of their first child. What's more, Kate told...
The U.S. Supreme Court recently agreed to consider the convictions of three U.S. citizens who were found guilty of U.S. wire fraud laws only because they'd evaded Canadian taxes. Advisors are closely watching the case, Pasquantino v. United States...
The brokerage business is good or better, at least. The market is climbing slowly, firms are showing a profit and hiring again (albeit after massive layoffs), and, according to industry studies, affluent investors are in search of advice. The bad...
Scott Maclise is a mutual fund wholesaler's dream. Maclise, of LPL Financial in San Rafael, Calif., writes $4 million worth of fund sales each year. Eager to curry favor, fund wholesalers have offered Maclise sun-drenched getaways and rounds of...
To many rank-and-file financial advisors, the Martha Stewart-Peter Bacanovic case is very far removed from their everyday business experience. After all, how many brokers have such high-profile clients? But don't tune the case out completely. The...
Far too many reps are learning the hard way how little responsibility clients shoulder when it comes to assessing the suitability of their investments. When confronted with a suitability complaint, reps typically react with bluster: These charges...
Run It Like a Business Richard J. KoretoDearborn Trade Publishing Koreto, a lifelong journalist, avoids the preachy pitfalls of many practice management authors by sticking to what journalists do best: talking to the experts. In this volume...
