Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
For E. W. (Woody) Young, one day stands above all others for showering his lady clients with love: Feb. 14. Each Valentine's Day, Young, who runs Quest Capital Management in Dallas, hosts a lunch for his unmarried female clients. Though such a...
An unethical practice is widespread among charities with donor-advised fund (DAF) programs. Financial advisors1 benefit financially from promoting and facilitating the contribution of their clients' funds to charities. These deals, in which donors...
Talking is good any marriage counselor will tell you so. I mention this because the relationship between regulators and the brokerage industry lately resembles that of a long-term union that's hit the rocks, and the pair could benefit from opening...
Once, it was common to advise international clients to set up their tax-free trusts in one of the offshore tax havens places with sun-kissed beaches and afternoon rum breaks. No longer. Now, these international clients should seriously consider...
When the NASD released follow-up guidance on Conduct Rule 3012 in April, it aimed to clarify how member firms must supervise the personal business of producing branch managers. Unfortunately many firms particularly independents remain confused...
No-brainer decisions aren't what they used to be in the brokerage industry, and outsourcing is a case in point. Broker/dealers have long understood that third-party service providers can handle processes, such as transaction clearing, more...
People applying for work on Wall Street can be denied for many reasons these days, but there are two very common ways they get tripped up. First, some try to hide their criminal past as if their Social Security numbers, CRD numbers, fingerprints...
Q: I am a big fan of the Ethical Rep section of the magazine. As a registered representative, I often encounter situations where my licensing and continuing education do not provide me with the necessary guidance. For instance, my current firm...
After eight turbulent years under President Bush, America is heading in different direction a very different direction. It's February 2009 time to meet the new President of the United States. But before we formally introduce him, what a race it...
In the past, almost any violation by a rep resulted in a fine. Only in the most extreme cases were severe measures, like suspension and expulsion, used. Break a rule, be found guilty, write a check without admitting or denying guilt. Not so today...
