Federal regulators have sued a defunct California investment brokerage and its former CEO, accusing them of fraud in selling more than $300 million worth of risky mortgage-backed securities to unsophisticated investors.
In what may be a reprieve for advisory firms, including those under pressure from tight budgets, Securities and Exchange Commission chairman Mary Schapiro seems to have backed off from an idea that would require some advisory firms to undergo third-party compliance procedure audits.
Like everything from houses to Hummers, advisory practices are now on sale, say industry leaders, who note a change in deal structures that give buyers an edge.
Summertime is coming up quickly and you know you want to hold client events, however you don't have the staff or budget available in the past. How can you create events that will impress clients and gain referrals?
I recently spoke to a roomful of financial advisers who focus on active investment management.
The trust factor within the world of financial services has been nuked — “getting Madoffed” is replacing “Ponzi scheme,” clients have become numb with fear and the adviser-client relationship will never be the same.
Many financial advisers are suffering a crisis of confidence that is hurting their relationships with existing clients and hampering their abilities to recruit new clients.
Arlene Moore has coped with the market's ups and downs more than 20 years as an adviser, but the most recent downturn has been different.
The following edited transcript is from “Are You an Emotionally Intelligent Adviser?” an </i>InvestmentNews<i> webcast held May 6.
Guiding investors through the financial crisis has taken a toll on financial advisers, leading some to question their abilities, rethink their investment strategies and even take up yoga.
Client retention — especially retaining your most affluent, profitable clients — hinges on successful communication.
In an effort to encourage people to continue to take its courses amid the economic downturn, the College for Financial Planning has cut the cost of one of its most popular courses by more than half.
One way successful advisory teams are realigning their resources and time is to outsource key areas of their business.
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firms' websites would lead a client or prospect to believe.
It happens all too often these days. You pick up the phone and there is an angry client on the other end. The market has dropped yet again. More money disappeared. Emotions are at the boiling point. How do you handle it?
The two largest organizations of financial planners are looking at ways to give members discounts on several kinds of insurance.
We constantly hear from advisers who want to start a simple birthday card mailing program, but then get too busy to execute the plan. The same thing happens with client events.
The fantastic growth among independent broker-dealers came skidding to a halt last year, but the results were far from disastrous — with some firms taking advantage of recruiting opportunities despite the revenue declines.
Brokers who are considering going independent are finding a bright spot amid the gloom: The cost of going it alone is down sharply.
