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Summary: In recent years, more retail investors have started to make the distinction between a fiduciary duty and a suitability standard. This, of course, is due to the Department of Labor’s years-long effort to rewrite the rules for retirement accounts, which has gained attention from segments of the mainstream media that don’t typically cover our industry.
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Summary: Countless firms—the vast majority, in fact—in the industry have not adopted basic fintech into their practices. It could be they are just unaware of the options before them, but considering the many trade publications, events and advertising opportunities highlighting fintech offerings, I would suggest the opposite is actually occurring: Advisors, wealth managers and other financial professionals are simply overwhelmed by their options and are defaulting to nothing.
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Summary: More than 1,200 coordinated examinations of state-registered investment advisers by state securities examiners in 37 jurisdictions uncovered 698 deficiencies involving cybersecurity, the North American Securities Administrators Association (NASAA) said.
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Summary: In my blog last week, I wrote about the bad karma created by “pre-screening clients,” because nobody likes to hear that they “aren’t good enough,” and consequently aren’t going to think — or speak — well of an advisor who sends that message.
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Summary: “Which software costs less?” is a frequent question I hear from advisors. Another popular question is, “What is the best (CRM, portfolio reporting, planning, etc.) software?” My answer is they are all good. It’s about which one is best for your firm.
