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Compliance at Financial Services Firms Falls Short
Added on August 2014 in Form an RIA
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Summary: Financial services firms give lip service to the importance of compliance, but the majority fails to devote adequate resources to the function, according to a new survey by Cipperman Compliance Services.The survey found that the compliance function in these firms tended to be underfunded and understaffed.
How to use the cloud securely (because it's not going away)
Added on August 2014 in Form an RIA
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Summary: You can't have a business conversation or attend an industry conference without hearing someone ask "are you in the cloud?" Indeed, servers and disk storage have been evolving frighteningly quickly over the past five years. However, like anything you do for your business, don't do it just to keep pace. Make it a determined decision that means you will either save time, money or both. And if you can add in offering new capabilities for your clients, all the better.
A 5-Step Process to Utilize Your Existing Technology: Level 3 - Building Processes Into Your CRM
Added on August 2014 in Form an RIA
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Summary: So far in this series on CRM technology utilization, we’ve talked about where most people start A 5-Step Process to Utilize Your Existing Technology: Level 1—All in Your Head) and transitioning to defined and consistent checklist based processes (A 5-Step Process to Utilize Your Existing Technology: Level 2—Make a Checklist). Now that you’ve put your processes into the checklist form and gotten buy-in from your user team, it is time to really start leveraging the power of the CRM tool in which you’ve invested.
Brokers' own accounts tip off firms to a move
Added on August 2014 in Form an RIA
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Summary: Brokerage firms may be monitoring their brokers' investment accounts for signs that a broker is about to jump ship. Firms have long monitored brokers' personal trading accounts for signs of suspicious trading activity. But certain behaviors — such as large withdrawals, moving assets into the accounts owned by family members or suddenly liquidating shares in proprietary products — may also suggest that a broker is planning to switch to another firm.
The Business of Breaking Away
Added on August 2014 in Form an RIA
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Summary: The process of going independent can be more time consuming than moving to another wirehouse, due to additional due diligence and logistical execution. So, it is important to make the journey to independence simpler, more turnkey and less threatening.
