Results for "compensation and staffing"

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Finra wants to up annual gift limit to $175

August 10, 2016

Finra proposed increasing to $175 from $100 the amount that a registered representative can spend on an individual per year, and is seeking other updates to its gifts, gratuities and non-cash compensation rules. "The gift rule is meant to prohibit...

Why aren't there more women fund managers?

July 24, 2016

If you're looking for comforting news about the great strides women have made breaking into investment management, you won't find it here. Men still overwhelmingly dominate the field. But the inroads that women have made in money market funds...

SEC Investor Advocate Fleming targets fees charged by advisers

July 1, 2016

To SEC investor advocate Rick A. Fleming, improved disclosure of fees and expenses charged by financial advisers is a top priority in the new fiscal year, which begins in October. Mr. Fleming will push the Securities and Exchange Commission...

Layoffs hit Pimco, GMO as assets shrink amid flight from active management

June 17, 2016

Layoffs have been scarce in the mutual fund industry, but they have hit two complexes recently: GMO and Pimco, which are suffering from declining assets as investors flee active management in favor of passive strategies. Boston-based Grantham,...

RIAs are losing their competitive advantage

June 5, 2016

Registered investment advisers need a new card up their sleeve. For years, RIAs have marketed themselves as being a cut above their counterparts in the brokerage industry. While they followed a fiduciary standard, requiring them to act in their...

Small-cap stocks gaining momentum while rates stay low

June 1, 2016

Small-cap stocks and funds that track them have started to outperform, and it might be connected to the Fed's downward revision on 2016 rate hikes. Prolonged periods of low interest rates tend to benefit smaller companies with cheap debt on...

The time is now for young financial advisers

May 29, 2016

After graduating from college, Eric Roberge worked at two investment banks and then four different advisory firms within five years, unable to find a company where he felt comfortable. After he decided to start his own firm, he was forced to...

Independent broker-dealer business model is an endangered species

May 29, 2016

The current business model of many independent broker-dealers, which depends on selling high-commission products, such as variable annuities and nontraded real estate investment trusts, is an endangered species. That's the blunt assessment of...

Wirehouses escape the worst of the DOL fiduciary rule

May 22, 2016

While many financial advisory firms have hunkered down, unwilling to talk about the impact of the disruptive Labor Department fiduciary rule, the wirehouses have sought to reassure their shareholders that the sky is not about to fall. Bank of...

The DOL fiduciary rule will forever change financial advice, and the industry has to adapt

May 9, 2016

Americans won hard-fought protections regarding the purity of their retirement advice last month. Now it's up to the nation's financial advisers to decide whether they'll meet the letter — and spirit — of the historic investor protection...

Still plenty of headaches for independent broker-dealers in the DOL fiduciary rule

April 24, 2016

Even though the Labor Department's recent changes to how financial advisers can counsel clients on retirement assets isn't the industry killer some had feared, independent broker-dealers will find plenty of unpleasant realities among the details...

51% of advisers see DOL fiduciary rule benefiting business

April 21, 2016

Just over half of the financial advisers polled a week after the Labor Department released its fiduciary rule think it will be good for business as it will level the playing field for retirement account advice. Asset manager Pioneer Investments...

Vanguard, Fidelity bank on robos, low-cost strategies to ride DOL fiduciary rule wave

April 7, 2016

In the shakeout over the Department of Labor's fiduciary rules for retirement accounts, mutual fund giant Vanguard is a clear winner — but archrival Fidelity won't be hurting, either. The rules, announced Wednesday, require that brokers act...

Lesson from Bank of America settlement with Merrill Lynch trainees: Long hours required to make it

March 29, 2016

Bank of America recently settled a lawsuit originally filed in March 2015 that alleged Merrill Lynch had violated federal overtime compensation laws. Each aggrieved ex-Merrill Lynch trainee would be entitled to about $1,000 after legal fees...

SEC approves Finra broker-compensation rule

March 24, 2016

The Securities and Exchange Commission has approved a Finra rule designed to encourage investors to ask their brokers about incentives they received to change firms. The compensation rule requires transferring brokers to send an “educational...

Industry needs to rid itself of misleading labels

February 7, 2016

Language matters. Most financial services practitioners call themselves financial planners or financial advisers. But in reality, many, if not most, are salespeople selling products to earn commissions. Why do they call themselves financial...

For some advisers, money not motivating factor to go independent

January 27, 2016

Wirehouse advisers looking for independence have choices of the type of firms they create or join – independent broker-dealers, existing registered investment advisers or their own RIA. But the option that eliminates the most business worries...

How to calculate a fair salary for a new hire

January 19, 2016

Knowing what to pay a newly hired adviser, paraplanner or client service rep requires advisory firms to use many sources to get the salary right for what a new hire should earn. Those resources include discussions with local firms, an analysis...

Merrill compensation plan makes it tough on small advisers

December 4, 2015

Wall Street wirehouses continue to squeeze their lowest producing financial advisers, with Bank of America Merrill Lynch telling its second-tier brokers this week that they need to sell more products and services to earn the same pay in 2016....

What the CEOs of adviser organizations are paid

December 1, 2015

Managing a successful advisory practice is not the only way to make a good living in the financial advice industry. Running an interest group or an organization that sets standards for an adviser credential also can be lucrative. The following...

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