Blog
Easier to become an independent advisor
Posted by RJ & Makay on March 8, 2013
Financial advisors that are looking to go independent have an easier path than before. Independent advisors have the ability to offer “most of the same services, the economies of scale and products and do it without pressure to sell or advise in a one-size fits all way.” Advisors at wirehouses ...
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Proposed FINRA rule affects advisor movement
Posted by RJ & Makay on March 8, 2013
A new proposal by the Financial Industry Regulatory Authority Inc. has come under fire. FINRA would like to “require brokers to reveal the compensation incentives they receive when moving from one firm to another.” The National Association of Insurance and Financial Advisors and the Securities Industry and Financial Markets Association ...
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Less investor fear fuels increase in stock investments
Posted by RJ & Makay on March 5, 2013
Investors are investing more of their funds in the stock market. Advisors are hearing from clients that have been sitting on the sidelines. Individual investors are helping stocks continue to gain. Advisors believe that the money that is returning to stocks will continue to flow in as investors fear continues ...
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25% of 401(k) plans have loans taken out
Posted by RJ & Makay on March 5, 2013
Loans from 401(k) accounts reached an all-time high in 2010. Investors are now taking less from their 401(k) savings, but the numbers are still astonishing. Financial advisors and financial service firms agree that “taking money from a 401(k) plans should only be done in the most extreme ...
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Posted by RJ & Makay on March 5, 2013
FINRA has notified investors of the risks that are involved with bond investing. Interest rates may soon rise and outstanding bonds with low interest rates and long term outlooks may drop in price. Many major bond investors have warned about the risks of rising interest rates and bonds. The interest ...
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FINRA not happy with firms cutting and pasting signatures
Posted by RJ & Makay on February 25, 2013
The Financial Industry Regulatory Authority has punished two firms for cutting and pasting client signatures. One firm settled with FINRA and received a 30 business day suspension and fine when they copied client signatures when a fax failed. The original document was signed by the clients, the document was supposed ...
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Convince clients to switch firms with you
Posted by RJ & Makay on February 25, 2013
Most financial advisors will switch firms at least once in their career. During such a transition an advisor will strive to retain as many key clients as possible. Clients have a lot to consider when deciding to join their advisor at their new firm. Clients must know that the reason ...
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Wealthy unhappy with underperforming advisors
Posted by RJ & Makay on February 22, 2013
A recent survey by Spectrum Group shows that wealthy investors’ satisfaction with their advisors is down from 81 percent in 2010 to 73 percent in 2012. The recent change is said to be influenced by wealthy investors that believe their advisor is underperforming within the equity markets. Throughout 2012 the ...
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Congress considers deduction changes
Posted by RJ & Makay on February 22, 2013
Approximately 38.7 million households will use charitable deductions on their 2012 taxes. Congress is considering different changes for future tax law. The ultimate goal is to simplify the tax code and make it “fairer and easier to comply with.” Some of the considered proposals include “imposing a dollar cap ...
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Custodians investing in new advisor generation
Posted by RJ & Makay on February 21, 2013
Brokerage firms have relied on proprietary training programs for new advisors for years. Colleges have started providing financial advisor specific training and many types of firms have taken notice. Registered investment advisor custodians usually gain advisors that had passed through brokerage training programs. Now custodians are investing in the college ...
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