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Unlocking the secret to luring Gen Z into the advisory industry
Emotionally engaging experiences will inspire interns to continue in the financial advisory profession.
Retire and remain: Sellers seek greater flexibility in succession planning
While some advisors choose to sell their practices and retire, others wish to remain for a specific time and work for the new owners.
The 11 hottest markets for next-gen advisors
InvestmentNews used Bureau of Labor Statistics data to calculate future demand for advisors and identify metropolitan areas that will need a substantial number of new advisors.
How two advisor tech companies battled it out in patent court
Both CellTrust and ionLake provide compliant text messaging and archiving for advisors. CellTrust accused ionLake of violating its patents, but the jury disagreed.
Advisor Group hires Dynasty co-founder Ed Swenson to lead RIA channel
The independent broker-dealer is developing different channel strategies as part of its rebranding, and RIAs are a big part of that.
Dave Ramsey sued by listeners over failed promises of advertiser
The lawsuit seeks $150 million in damages from the radio host over ads for a timeshare exit business that listeners say failed to extricate them from timeshare contracts.
The ‘AUM illusion’ and organic growth
Having more people know what you can do for them rather than what they can do for you could be a route to growth that suits many advisors.
Anti-ESG shareholder proposals rise sharply
A report from the Sustainable Investment Institute shows a 76% uptick this year in shareholder resolutions asking companies to undo their work on diversity, equity and inclusion, and other issues.
Finra fines B-D $30,000 over rep’s medical marijuana biz
Park Avenue Securities fell short in its supervision of a rep who helped operate a cannabis business, the regulator says.
Wells Fargo hires another JPMorgan executive for wealth management
Barry Simmons is at least the third senior wealth management executive Wells Fargo has hired in the last few years from JPMorgan.
Firms brace for SEC spotlight on electronic communications
Protecting investors from fraudulent, misleading or otherwise problematic electronic communications seems to be of the utmost importance to regulators.
Retooled internships stoke talent pipelines with diverse students
Advisory firms are adopting virtual or hybrid programs, or changing the structure of internships to pull in more diverse students and illustrate a wider array of career opportunities.
MassMutual promotes pair to leadership team, says goodbye to US head
Mike Fanning is retiring after 17 years as the insurer's US head, a period in which MassMutual grew into one of the top annuity providers in the US.
10 IBDs with the most net new clients in 2022
New clients are essential to the growth of advisory firms. Here are the independent broker-dealers that added the most clients last year.
BNY hires first chief sustainability officer from BlackRock
Meaghan Muldoon, who had been global head of ESG integration at BlackRock, started in her new position at BNY Mellon this month.
Professional advancement a steeplechase for Asian Americans in financial services
For Asian Americans, family culture can both hinder and help advancement.
JPMorgan tells 1,000 First Republic employees they’re losing their jobs
The bank offered full-time or transitional roles to almost 85% of the nearly 7,000 employees still working at First Republic when it collapsed, and told the rest they wouldn't get offers.
InvestCloud interim CEO opens up about fintech’s recent leadership changes
Richard Lumb says that while InvestCloud is growing, a different set of skills are needed to take it to the next level.
‘Ow!’ — not ‘wow’ — drives client change
The pivot point is salience: the motivational magic that's sparked when a piece of information has immediate relevance to the client's situation or expectations.
Modernize your service model, both for your next client and your succession plan
You’ll have a tough time acquiring new clients, or eventually selling your firm and retiring, if your service model is stuck back in the '90s.
