The Downside of Disclosure
The Downside of Disclosure
Feb 01, 2011
Does disclosure work? Daylian Cain, a professor at the Yale School of Management, says that while it's often necessary, it doesn't work the way regulators expect. His research shows it can actually diminish the quality of advice offered and leave...
Street Legal: An Open or Shut Arbitration
Street Legal: An Open or Shut Arbitration
Jan 31, 2011
Repayment of an EFL rested on whether a UBS branch was permanently closed.
Banks Losing Mass Affluent To Online Brokerages
Jan 28, 2011
U.S. and Canadian banks say developing mass affluent wealth management business is a top priority, but they’re not doing enough about it, says a recent report from Aite Group. Most banks are focusing their efforts on cross-selling brokerage...
BofA/Merrill Pricing Plan To Advance Cross-Selling
Jan 24, 2011
Merrill Lynch said today it is rolling out a new pricing program that provides incentives for customers to hold $50,000 or more in BofA deposit accounts or Merrill Edge investment balances. The program, called Platinum Privileges, provides...
SEC Recommends Strict Fiduciary Standard For Broker/Dealers
Jan 23, 2011
In a Dodd-Frank study released over the weekend, the SEC recommended that all brokers and financial advisors adhere to the same strict fiduciary standard that currently applies to investment advisers when they provide personalized investment...
Creating Excellence in Support
Creating Excellence in Support
Jan 20, 2011
Philadelphia: “Getting the proper support has always been an issue at my firm,” groused Harvey during the Q&A session following my presentation. Then he asked a question, impossible to answer in a quick sound bite: “How do elite advisors develop ...
In Dodd-Frank Report, SEC Champions User Fees Over SRO
Jan 19, 2011
In a Dodd-Frank report to Congress Wednesday night, the SEC supported imposing user fees on investment advisers as the best method for improving oversight. But it recommended legislators consider three options, including giving responsibility to...
Wealth Managers Target Gay, Lesbian Market
Jan 19, 2011
The need – and demand – for specialized services for the gay community is both substantial and growing, observers say.
Dodd-Frank Legislation? For Asset Managers, Who Cares?
Jan 17, 2011
The truth is, asset managers haven’t gotten very involved in the debate surrounding the Dodd-Frank financial reform legislation, mostly because they say there are few issues that apply to them. According to Barbara Novick, founder of...
CFP Board Sees More Planners in Bankruptcy
Jan 12, 2011
Of all the categories of conduct that will land a certified financial planner before the CFP Board of Standards’ Disciplinary and Ethics Commission, bankruptcy currently ranks number one. And the number of bankrupt CFPs who come before the...
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