In this section we present key findings and insights from our survey questions on practice management and operations, including services offered, the most time-consuming activities, professional designations, custody relationships and documentation trends.
Given market conditions in 2008 and early 2009, the majority of sales assistants either expect their pay and bonus to stay put or to drop this year; some do not expect to receive any bonus at all. For most sales assistants, bonuses are awarded...
Laura Coltman got her start as a sales assistant (SA) in an Atlanta Lehman Brothers brokerage office back in the mid 1980s, when financial advisors were still called stockbrokers. Coltman recalls a pressured environment: Brokers would come up with...
When an advisor leaves a wirehouse before his term on his forgivable loan is up, the firm often demands he pay back the balance at once. Mark Thierman is behind a new class action lawsuit that could change that.
Women with more testosterone tend to be less risk averse when taking financial risks, according to a University of Chicago study of more than 500 MBA male and female students. Asked to choose between a guaranteed monetary award or a risky lottery...
Mike Curran, retired founder and CEO of Executive Benefit Services, joined Captrust Financial Advisors as vice president of Nonqualified Deferred Compensation services. Tim Kochis, CEO of Aspiriant, an RIA that was formed in 2008 by the merger of...
Anecdotal evidence shows that clients are usually more loyal to their advisors than they are to their firms. But why risk it? If you are switching firms, it's much better to assure them that any fears they might have are unfounded and explain to...
Many SAs are like mini advisors. Their advisors not only trust them to take initiative without supervision, but they are also involved in setting goals and strategies for the FA's business. Sometimes they even provide advice to clients. Primary...
The recent article, Talking to Clients About Breaking Away, [a blog on our website posted by Mindy Diamond on Sep. 3, and reprised in Mindy's column this month on page 80] certainly had some good points to highlight with clients.? But some of the...
Ponzi Porn: Philip Barry, a 52-year old Brooklyn native, stole $40 million from 800 investors, many of whom were his neighbors or elderly, between 1978 and 2009, according to an SEC complaint filed in September. According to reports, Barry ran an...
