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When regulators began attacking rapid trading of mutual funds, many funds rushed to slap on redemption fees. The SEC encouraged the practice, proposing last year that anyone who sells a fund within five days of purchasing it should pay a 2 percent...
Every advisor is different, but a striking number have the exact same three priorities when switching firms: a big transition deal, a fertile source of high-net-worth referrals and a 90 percent payout rate. It goes without saying that the vast...
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...
In the world of trust and estates software, no package is all things to all users trying to perform a given task. So, when looking to buy software, focus on what works for you. To help with the process, I offer the Kelley Software Purchasing...
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...
Dreams are an important part of any successful advisory business. Indeed, they represent perhaps the purest form of aspiration. But there's a reason that is a derisive term in the business world: Many people are unwilling to pay the price for...
Three years ago, Dave Malleck realized he needed professional help. A principal with Raymond James Financial Services in Dallas, Malleck had been so drilled into the day-to-day running of his practice that he could not make time to carve out the...
The branch office manager of yore is dying. The do-it-all BOM the guy who would mentor an office's young bucks, auditing their tickets and their client interactions all while recruiting and tending his own book is becoming obsolete in today's...
