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YOUR PRACTICE-Long weekends no longer lure job-hopping financial advisers
From Reuters
Added on July 2014 in Form an RIA
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Summary: Headhunters and industry specialists say fewer advisers move on holiday weekends now, in part because a 2004 protocol prevents firms from seeking temporary restraining orders, and also because brokers and firms don't want to interrupt clients while they are enjoying those long breaks..
Fiduciary duty rule: No way out
From InvestmentNews
Added on July 2014 in Form an RIA
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Summary: With the outlook for passage of a uniform fiduciary duty now bleak, it's astonishing to think the prospects for strengthening investment-advice rules to better protect investors looked so bright four years ago.
RIAs Increase Compliance Staff, Training
From wealthmanagement.com
Added on July 2014 in Form an RIA
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Summary: RIA firms continue to increase their investment in compliance, boosting the number of dedicated staff and overall employee training, according to a recent survey. The number of RIA firms employing six or more employees focused on compliance jumped from 16 percent to 18 percent over the past year, according to the 2014 Investment Management Compliance Testing Survey.
Letting Go of Less-Than-Ideal Clients
From byallaccounts
Added on July 2014 in Form an RIA
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Summary: Some advisors hold onto clients that they consciously know are bad for them instead of taking one bold step that could improve the quality of their business. The challenge of letting go is tough for some people especially if they see their business situation as not so great but are more afraid of the unknown. It’s been said that the unknown is where your professional potential lies and that choosing the discomfort of change will reveal to you a whole new world of possibilities.
39 Great Ways to Improve Your Practice
From Financial Planning
Added on July 2014 in Form an RIA
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Summary: Get smarter about communicating with existing clients — and attracting new ones. Sharpen your overall business strategies, and improve your social media presence.No matter how successful an advisor becomes, there are always ways to hone a firm’s practices to reach more clients and improve profitability. We scoured Financial Planning’s many Web-only features, blogs and videos to find the best ideas our readers might have missed.
