COMPLIANCE NEWS
14 Tips For How to Act When the SEC Auditor is in Your Office
Elizabeth MacBride, RIABiz, January 14, 2010
No need to be a doormat but treat the visitor as a guest.
Elizabeth Witnesses a Mock Audit First Hand and Feels the Advisor's Pain
Elizabeth MacBride, RIABiz, January 13, 2010
Mock audits are in hot demand because they cut back on regulatory blindsiding.
SEC Passes Rule On Surprise Audits
FA News, December 17, 2009
(Dow Jones) The Securities and Exchange Commission approved a rule Wednesday requiring some investment advisors who manage customer funds to undergo annual surprise audits.
'Unthinkable' Progress was Made on Creating a New Regulatory World for Advisors in 2009
Elizabeth MacBride, RIABiz, December 17, 2009
Change is in the air but upcoming Senate elections complicate prospects for 2010.
SEC Details New "Madoff fix" Custody Rules
Elizabeth MacBride, RIABiz, December 16, 2009
Advisor groups relieved: no surprise audits for RIAs with third-party custodians. The SEC today passed new regulations for asset custody, in large part in response to the Madoff scandal. The new rules will make it more likely that a misappropriation of funds by an advisor will be discovered.
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MARKET NEWS
Schwab Reports 54% Jump in Advisors Turning Independent
James J. Green, Investment Advisor, August 31, 2009
Uncertainty at wirehouses driving move to become RIAs. Schwab Advisor Services said that a "persistent undercurrent of uncertainty" at the wirehouses was prompting many wirehouse brokers to take the independent route.
How to Increase Client Satisfaction
Evan Cooper, Investor News, July 22, 2009
If the market decline of the past year or so has taught the investing public anything, it's that professional investment advice - whether from top Wall Street gurus, mutual fund managers or financial advisers - doesn't ensure success.
PRACTICE MANAGEMENT
Advisers Rate Top Technology Concerns
Davis D. Janowski , Investment News, January 24, 2010
Areas needing improvement include compliance, customer relationship and portfolio management. Simplifying and better integrating compliance tasks, improving customer relationship management and developing more-robust portfolio management tools are the top technology concerns among financial advisers affiliated with independent broker-dealers, according to an online survey conducted by InvestmentNews this month.
Blogging: The Costs and Risks of Hoarding Your Thoughts are Rising
Andy Hyer, RIABiz, December 16, 2009
It's a new way for financial advisors to stay relevant with clients. The J.D. Power and Associates 2009 U.S. Full Service Investor Satisfaction Study reveals that the financial advisor is the most important aspect of overall investor satisfaction, accounting for 30% of this satisfaction in 2009, an increase from 22% in 2008. In contrast, investment performance declined in importance and accounted for only 15% of overall satisfaction in 2009, compared with 24% in 2008.
An Easy Way to Keep Clients: Surveys
Melissa Neill and Brant Skogrand, Investment News, December 13, 2009
They will help you figure out why clients stay or leave, and develop a retention plan. Take a moment to think about a store you visit regularly, a family physician from which you never stray or a dentist you always recommend. What keeps you going back? Is it the way they treat you or is it what happens between the times you see them?
Communication a Key to Surviving Tough Times and Tough Choices
Darla Mercado, Investment News, December 6, 2009
While worries about the global economy still keep Michael Holden, chief operating officer of GenSpring Family Offices LLC, awake at night, his clients at least get some respite thanks to the firm's increase in client communications after the crisis.
Advisor, Client Relations Still Strong
FA News, October 9, 2009
Relations between advisors and their clients remain strong and robust despite the volatile market, according to a new survey.
The survey found that advisors' contacts with clients are on the rise and that they're busy helping clients invest and rebalance portfolios.
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