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Summary: As Oliver brought to America’s attention, the widely-anticipated Labor Department changes to how financial advisors can counsel clients on retirement assets (commonly called the DOL rule) will begin to take effect in a year. This new conflict-of-interest—or fiduciary—rule requires all professionals to recommend what is in a client’s best interest when providing advice on 401(k) assets, individual retirement accounts or other qualified monies saved for retirement.
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Summary: The Securities and Exchange Commission is taking a closer look at advisers' use of social media by making their activity part of their annual disclosures to the agency.
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Summary: Advice practices were hit with a double whammy of rising overhead and slowing asset growth in 2015, and those who let operating costs run away from them may face more of the same this year, according to a new study released by TD Ameritrade Institutional.
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Summary: When a visitor does come to your office, you want them to see a reflection of who you are, so they get a sense of what you’re all about. The equivalent digital space to your physical office is your website. And your blog is where people will find out more about you, instead of coming in to your office. It’s where you put your personality on display and your company culture (the one you work to create, like I discussed in this post) for the whole internet to see.
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Summary: Advisory firms face a daunting challenge as they prepare themselves for the latest version of the future. They will have to retool their service offering for a new generation of clients (aka Millennials), who have very different preferences, different advice needs and far more digital sophistication than your Baby Boomer clients ever had.
