Advisor news
Financial advisor career news from Willis Consulting
Financial Recruiters Scramble to Place Securities America Advisors
Last week’s surprise announcement by Ameriprise Financial that they would find a buyer for Securities America sent their 1,800 financial advisors and industry recruiters buzzing about where to find new positions at other firms. Since the announcement was just made...
Should Broker Protocol Be Regulated?
Lots of “scuttle” out there regarding Broker Protocol and the changes we’ve seen the past two years (U.S. Trust and their “Garden Leave” has brought the topic back into the limelight). Since the 2004 origin of Broker Protocol, which was used to aid the big firms to...
Financial Advisors – Dare To Be Bold
For anyone who is relying on communication to promote their business, whether it is providing product or service, you have to admit it’s a very noisy, congested, and ever changing world out there. [pullquote]You must stand out and grab attention.[/pullquote]As a...
Power of the Right Financial Advisor
No one would debate the fact that Merrill Lynch went thru some tough times during the economic crisis. But Merrill’s Wealth Management took a survey of their clients over this past year and found that they continue to value their relationship with their financial...
MSB Heavily Into Scenario Planning
With the uncertainty as to what to expect from the SEC’s new fiduciary standard to be set for defining the financial advisor’s role on behalf of clients, Morgan Stanley Smith Barney is moving beyond just “buzzing” about the “what if’s”… At last week’s Securities...
The Leap To Independence
During 2010, brokers and financial advisors have continued to leap into the independent channel at a swift pace. [pullquote]...independent advisors and brokers will make more money in the next year and a half.[/pullquote] Whether it was to set up their own shop, join...
Financial Advisors Upbeat As Compensation Rises
Of note last week was the announcement by Bank Investment Consultant that financial advisors last year sold a whole lot more mutual funds, ETF’s and other equity-linked products while continuing to increase annuity sales. In addition, the trend toward more fee-based...
“Garden Leave Restrictions” Versus “Broker Protocol”
What exactly is the “Garden Policy” and will it hamper recruiting? Traditionally, wealth management firms largely follow a broker protocol, whereby an advisor cultivates a personal relationship with clients and has ownership of their business. A garden leave...
Big Changes for Financial Advisors Ahead
Whatever the final SEC regulations are, it’s pretty well agreed that brokers will be operating under a more stringent fiduciary standard of care. Given that, there will follow a dramatic transition for brokers and firms who will have to jump on the band wagon and add...
Facing FINRA – The Tradeoff
There has been a “rumble” since January when the SEC announced that FINRA would soon be regulating RIA’s and fiduciary standards would apply to broker-dealers. Most of the RIA’s seem pleased about a uniform standard of conduct, but cautionary about the prospect of...
Banking Executives Optimistic On Economy Recovery But Cautious On Hiring
It was an interesting survey recently conducted by Grant Thornton LLP that pointed to the optimism of banking executives regarding the U.S. economy’s recovery in the next six months. A robust stock market, stabilizing unemployment and improving corporate earnings...
Are Wirehouse Reps Adjusting To Bank Mentality?
Not according to the consensus of Bank Insurance and Securities Association members who attended its Third Party Marketer Forum this month. Not only are they not adapting well, but the banks seem to have cooled to going after the wirehouse reps. This is a big...
Rumor + Rumor = A Bigger Rumor?
In case you missed it, the “buzz” last week was all about the rumor that Wells Fargo & Co was seeking a deal to acquire UBS AG’s U.S. wealth management operations. The report came out of InvestmentNews on Tuesday, the 15th, when they cited “unnamed industry...
Anywhere, Anytime, Any Way You Want
Last Wednesday, Merrill Lynch announced the launch of mobile brokerage apps for iPhone, iPad, and BlackBerry devices. This follows the launch in 2009 of MyMerrill.com and MerrillEdge.com which are banking apps through Bank of America. With the new apps, clients will...
Where Can a Rookie FA Get The Best Training Today?
It’s no secret that the advisory workforce throughout the industry is aging, and now that the economy is recovering, firms are acknowledging that they need to bring in new FA’s to counter-balance that. So what are some of them doing?
Registered Rep + RIA = Hybrid Model
[pullquote]The Hybrid Advisor has opened an avenue to expand their pool of potential clients[/pullquote]. Is the “Hybrid Advisor” the hottest trend on Wall Street? With the ability to serve as both an RIA advisor and a registered rep, the Hybrid Advisor has opened an...
Advisor Population Continues To Age
Ask anyone on the block and most wirehouses and independent broker-dealers recognize that their core financial advisors are aging and will soon need to be replaced, but very few have done much in the past three years to address the issue. Most have spent their time...
Jumpstart Social Media Skills: Help For Financial Advisors
The new social media training program designed specifically for advisors was rolled out this week by LIMRA and social middleware firm Socialware. The training program, “Insight Advisor Series” is designed to provide a framework for adopting social media sites in a...
Mortgage Rates Rise as Economy Rebounds
Mortgage rates are on the rise, leading many to jump into the home buying market sooner rather than later. Rates have risen again to over 5%, a full percentage point higher than they were two months ago. Still, these rates are bargain basement compared to how they...
IRS Offers Amnesty for Off-Shore Accounts
Have your clients been hiding money in an off-shore account? No need to admit it here, but the IRS is offering another (the most recent previous one was in 2009) amnesty program through August 31, 2011. Hidden offshore accounts currently risk detection by the IRS and...