Results for "compensation and staffing"

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Focus on competency, not compensation method

September 13, 2017

I have been a financial planner for more than 20 years. During that time I have had an opportunity to work at a variety of firms that operated in different business and compensation models. Currently, I serve as vice president and financial...

Ask the Ethicist: How can advisers best disclose conflicts of interest related to compensation?

September 5, 2017

Q: I provide financial planning and investments as a dually-registered person with an insurance company. I offer financial planning advice as an investment adviser representative of the insurance company affiliated registered investment adviser....

Fund industry swats down fee suits, but they keep appealing

September 1, 2017

Mutual funds continue to swat down excessive fee cases, but they're still making it into court, which could mean that plaintiffs just haven't filed the best case yet. The most recent cases involve subadvisory fees, where fund companies farm...

State-registered advisers face fee model inconsistencies

August 30, 2017

New financial advisers are finding strange discrepancies between states in terms of the way regulators are allowing them to charge their clients fees for services. They have found that some states will not allow them to charge a client both...

FS Investments promotes Mike Kelly to president

July 26, 2017

FS Investments has promoted Mike Kelly, currently its chief investment officer, to president. He will continue to lead the firm's investment efforts. The firm, based in Philadelphia, manages alternative assets and has more than $20 billion in...

With fiduciary rule in place, two broker-dealers cut adviser compensation

July 11, 2017

Two prominent broker-dealers are cutting bonuses and payouts to advisers, in some cases because of the Department of Labor's new fiduciary rule. LPL Financial is eliminating a "general securities bonus" applicable to the volume of equities and...

What Finra pays its top executives

July 6, 2017

Each year, the Financial Industry Regulatory Authority Inc., the brokerage industry self-regulator, publishes the total compensation for its 10 highest-paid executives in its annual report. In a message accompanying this year’s report, Finra...

Wealth management firms struggle with lower fees, fewer new clients

June 28, 2017

Wealth management firms are struggling with a drop in fees, scarcity of new clients and little prospect for growth as young investors shun full-service retail firms. Even as the bull market pushed industry assets under management to a record...

Top independent broker-dealers by payout

June 15, 2017

Which independent broker-dealers pay the most? InvestmentNews Research surveyed IBD firms to find out which had the highest average payout per rep. Click through to find out which firms topped the list for 2016 and how their payout compares...

Fee pressure has RIAs considering moving from AUM to retainer model

May 26, 2017

As investors become increasingly cost conscious and more savvy about fees, some financial advisers claim to be poised to field any and all challenges by embracing a retainer-fee model. Unlike the more popular model of charging clients based...

RIA models retainer fees after a McDonald's menu

May 26, 2017

No matter how difficult the financial planning challenge, Bill Simonet tries to keep his fee structure as simple as possible. The managing principal at Simonet Financial Group still offers an asset-based pricing model for clients who only want...

BlackRock paid CEO Laurence Fink $25.5 million last year

April 14, 2017

BlackRock Inc. CEO Laurence D. Fink received a $25.5 million pay package for 2016 as the company cut employee bonuses for the first time since 2011 and performance in its stock-picking business continued to lag behind peers. Mr. Fink, 64, got...

JPMorgan and former brokers reach $5.7 million settlement to end overtime pay dispute

April 11, 2017

A $5.7 million settlement has been reached in a five-year class-action battle between JPMorgan Chase & Co. and 1,056 former financial advisers about overtime pay. The deal, which was presented to a federal district court in New York last week,...

RIAs make the case for charging on a client's total net worth

March 21, 2017

Seventeen years ago, when Brighton Jones launched as an advisory firm billing clients based on their total net worth, it was a rare and innovative fee structure in the financial planning business. Today, with the financial services industry...

The case for more prominently disclosing compensation and conflicts of interest

March 16, 2017

I didn't receive any questions this month to use as a source for this column. Maybe you were all too busy trying to figure out whether the Department of Labor's fiduciary rule is alive or dead? Or you could be trying to figure out how the American...

Keep calm and carry on with both commissions and fees

March 15, 2017

Heightened transparency and education around the many financial products and services available in the marketplace today is critical in a client-adviser relationship, particularly surrounding changing consumer preferences for financial advice....

Merrill Lynch cuts its top rate on fee accounts

February 24, 2017

Merrill Lynch has lowered its top charge on fee-based accounts to 2.2% from 2.7%, a move that could save smaller investors as much as $5,000 a year, The Wall Street Journal reports. The reduction affects clients with under $1 million in assets...

Some Merrill Lynch advisers upset with move away from commissions

February 21, 2017

Some advisers at Merrill Lynch are not happy with the wirehouse's newly minted policy of embracing advisory over commission relationships in retirement accounts. Ron Edde, president and chief executive of Millennium Career Advisors, a recruiting...

Most advisers think the industry will continue down a fiduciary path despite rule delay

February 3, 2017

News that President Donald J. Trump plans to order a stop to the DOL fiduciary rule drew mixed reactions from financial advisers. Find out how they think the efforts to implement the rule will impact their businesses and the industry going forward....

Banks, credit unions could start buying advisory practices

February 1, 2017

In September, when Salem Five Bank acquired Stumm Financial Services, it set in motion a financial advice model that could become a blueprint for other banks and credit unions, and also represents new distribution for platforms like LPL Financial....

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