Schmoozing clients stuck in lockdown can be a thankless task, what with virtual meetings plagued by glitchy audio, childcare intrusions and the monotony of the ubiquitous bookcase in the background.
A U.S. watchdog has some good news.
The Financial Industry Regulatory Authority Inc., which oversees Wall Street brokers, said it would allow bankers and traders to expense meals as entertainment costs even if they’re just hosting an online get-together.
Finra’s strict limits on gifts have always included an exemption for entertainment, which typically means restaurant excursions. So what happens in a video-only world?
“A key distinction between gifts and business entertainment is that the latter involves an associated person of a member personally hosting employees of institutional customers,” Finra said in a notice on its website this week. For virtual business-entertainment events or meetings, the authority said it would view food and beverage costs as exempt from its $100 gift limits.
Finra’s only request: The host shouldn’t set up a video call, order the meal and disappear. Fancy care packages to cheer up clients are still prohibited.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
