Practice Management

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Compensation for top trade association execs  
PRACTICE MANAGEMENT AUG 09, 2022
Compensation for top trade association execs  

InvestmentNews combed through the tax forms of groups in the financial services space to learn what their CEOs earn, as well as other financial metrics.

By Mark Schoeff Jr.
Outsourcing can increase firms' scale and efficiency
OPINION AUG 09, 2022
Outsourcing can increase firms' scale and efficiency

Wise advisers are exploring options to offload tasks that aren't a high-value activity for them or duties that they don't particularly enjoy.

By Kristine McManus
The time is now to be more transparent about advisory fees
EQUITIES AUG 08, 2022
The time is now to be more transparent about advisory fees

Advisers charging fees based on client assets are feeling a rare pinch of lower income against the backdrop of inflation. Now would be a good time to make that clear.

By Jeff Benjamin
Ex-LPL adviser accused of racism claims firm defamed her in lawsuit
PRACTICE MANAGEMENT AUG 08, 2022
Ex-LPL adviser accused of racism claims firm defamed her in lawsuit

The adviser, Eileen Cure, filed suit in federal court in Texas seeking $95 million in damages

By Bruce Kelly
Alts are rockin’ the house!
ALTERNATIVES AUG 08, 2022
Alts are rockin’ the house!

Demand for income, inflation protection, enhanced returns and volatility dampening has created a ‘Goldilocks moment’ for alternative investments.

By Ryan W. Neal
Insurers to suppliers: Time to get with the DEI program
LIFE INSURANCE AND ANNUITIES AUG 08, 2022
Insurers to suppliers: Time to get with the DEI program

As corporations strengthen efforts to diversify their cultures, employee population, recruiting, and community service, suppliers must realize that they are part of that values alignment, too.

By Joanne Cleaver
Finra slaps J.P. Morgan over ex-rep who loaded grandma up on structured products
ALTERNATIVES AUG 05, 2022
Finra slaps J.P. Morgan over ex-rep who loaded grandma up on structured products

The firm was fined $200,000 for failing to supervise the rep, whose grandmother was 88 and widowed when she opened her account in 2014.

By Bruce Kelly
Fintech Bytes: Robinhood layoffs, BlackRock partners with Coinbase
FINTECH AUG 05, 2022
Fintech Bytes: Robinhood layoffs, BlackRock partners with Coinbase

Some startups have already made moves to prepare for an extended bear market, but now the crunch is coming to more established fintech brands.

By Ryan W. Neal
Difficult topics deserve nuanced coverage
PRACTICE MANAGEMENT AUG 05, 2022
Difficult topics deserve nuanced coverage

The advisory and investment industries have a rare chance to reframe how Americans debate polarizing issues.

By Joanne Cleaver
Recruiting slowed in the first half while M&A soared
INDEPENDENT BROKER DEALERS AUG 03, 2022
Recruiting slowed in the first half while M&A soared

Volatile markets may be holding recruiting activity back from its breakneck pre-pandemic pace but mergers and acquisitions have more than rebounded from the 2020 low.

By Devin McGinley
LPL payout inches up as revenue per adviser dips
INDEPENDENT BROKER DEALERS AUG 03, 2022
LPL payout inches up as revenue per adviser dips

'Tis the season? LPL points to 'seasonality' to explain the slight bump in the rate of adviser pay in Q2.

By Bruce Kelly
Robinhood slashes 23% of workforce; chief product officer departs
FINTECH AUG 03, 2022
Robinhood slashes 23% of workforce; chief product officer departs

The app-based brokerage's reductions were concentrated in operations, marketing and program management functions.

By Bloomberg
SEC warns brokers, advisers to make ongoing efforts to identify, mitigate conflicts
PRACTICE MANAGEMENT AUG 03, 2022
SEC warns brokers, advisers to make ongoing efforts to identify, mitigate conflicts

Among the suggestions for mitigating conflicts are to avoid compensation incentives for selling certain products and to minimize incentives for favoring one type of product or account over another.

By Mark Schoeff Jr.
Foundation for Financial Planning taps Ben Harrison as chair
PRACTICE MANAGEMENT AUG 03, 2022
Foundation for Financial Planning taps Ben Harrison as chair

BNY Mellon Pershing’s co-head of wealth solutions will serve in the position through 2023.

By InvestmentNews
Kate Healy named to head CFP Board's Center for Financial Planning
PRACTICE MANAGEMENT AUG 03, 2022
Kate Healy named to head CFP Board's Center for Financial Planning

The former TD Ameritrade executive led the company’s Generation Next diversity program.

By InvestmentNews
Wells Fargo resumes using its diverse candidate guidelines
PRACTICE MANAGEMENT AUG 02, 2022
Wells Fargo resumes using its diverse candidate guidelines

The banking giant completes 6-week review of procedures after ‘fake interviews’ fracas.

By InvestmentNews
Finra proposes 3-year pilot program for remote office inspections
PRACTICE MANAGEMENT AUG 02, 2022
Finra proposes 3-year pilot program for remote office inspections

The initiative effectively extends the online supervision of branch and non-branch operations that Finra allowed during the pandemic.

By Mark Schoeff Jr.
J.P. Morgan hires trio of private bankers in Chicago
PRACTICE MANAGEMENT AUG 02, 2022
J.P. Morgan hires trio of private bankers in Chicago

The team is joining from Citigroup, where its members had managed more than $2 billion in client assets.

By Bruce Kelly
Citigroup plans to hire 500 people for new wealth unit
PRACTICE MANAGEMENT AUG 02, 2022
Citigroup plans to hire 500 people for new wealth unit

The division caters to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultra-wealthy.

By Bloomberg
Policymakers should tailor regulations for small businesses
OPINION AUG 02, 2022
Policymakers should tailor regulations for small businesses

The SEC's proposed cybersecurity rule is an example of a one-size-fits-all regulation that would significantly affect smaller firms.

By Karen Barr