Added on November 2017 in Form an RIA
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Summary: First, a disclaimer: We are not lawyers, and this post does not contain legal advice of any kind. As operational consultants that advise financial advisors on the nuances of starting an RIA, we always suggest advisors consult with legal counsel before embarking on a breakaway transition.
Added on November 2017 in Form an RIA
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Summary: UBS Wealth Management Americas said Monday morning it was exiting an industry agreement known as the protocol for broker recruiting, which has made it easier for brokers to change firms. UBS follows the lead of Morgan Stanley, which told its employees at the end of October it would no longer work under the protocol.
Added on November 2017 in Form an RIA
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Summary: After exploring the origins of independence in the first episode of this series on independence for financial advisors, Mindy Diamond walks advisors through a process to help them determine if the model is right for them. She’ll share a story of 2 advisors who, after asking themselves a series of questions, identified that independence was not right for them.
Added on November 2017 in Form an RIA
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Summary: The foundation of the Protocol for Broker Recruiting, and indeed the stated purpose, is to support client freedom of choice, to permit clients to move with their adviser when they change employment.
Added on November 2017 in Form an RIA
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Summary: Two weeks ago, Morgan Stanley kicked over what could be the first domino in a sweeping shift away from broker protocol policies, and the financial services industry is still trying to figure out what it all means..
