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The Engineer
Added on July 2014 in Form an RIA
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Summary: How Brian Hamburger became the man behind the curtain in almost every major breakaway deal and helped define the industry. Over the past decade, Hamburger has been the architect behind almost all of the highest-profile breakaway deals in the industry, helping countless advisors transition away from brokerage houses and toward independent business models.
How to succeed in (the) business: 5 tips from top wealth managers
Added on June 2014 in Form an RIA
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Summary: The generation of entrepreneurs who hung out their shingles as fee-based financial advisors in the 1980s and '90s had a wide-open market opportunity. The simple idea of charging a fee and not being paid based on the actions or products you recommend was a novel concept in the retail investment market, and it has paid off in spades. We asked leaders of some of the top fee-based wealth management firms in the country for advice to would-be entrepreneurs in the advisory industry. Their five suggestions follow.
Lack of adviser oversight is ticking bomb
Added on June 2014 in Form an RIA
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Summary: The Securities and Exchange Commission took a hit last week when a House panel denied the agency the funding it says it needs to hire additional investment-adviser examiners. In a voice vote, the House Appropriations Subcommittee on Financial Services and General Government approved a measure that sets the SEC budget at $1.4 billion for fiscal 2015 — a $50 million increase to its current budget, but $300 million less than the Obama administration requested.
Advisory Industry Wants More Exams (and Will Pay for Them, Too)
Added on June 2014 in Form an RIA
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Summary: Advisory industry executives and advocates descended on Capitol Hill Thursday to participate in the Investment Adviser Association’s annual lobbying day. Those issues include not only boosting funding for the Securities and Exchange Commission so that it can increase advisor exams, but pushing members of Congress to support the Investment Adviser Examination Improvement Act of 2013, a bill sponsored by Rep. Maxine Waters, D-Calif., that would allow the agency to collect fees from advisors to fund their exam.
Advisors on Teams Make More Money
Added on June 2014 in Form an RIA
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Summary: Wealthmanagement.com's annual compensation survey found that one in three advisors work on a team, sharing clients and revenues, compared to the 47 percent of advisors going it alone. About 20 percent say they fall somewhere in the middle, working in a siloed practice but with other advisors, sharing resources and overhead but not clients or revenues.
