Slideshows

Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'

From why FINRA’s BrokerCheck service for investors is facing criticism on multiple fronts to why top advisors want equity and career growth, here are the most notable quotes from the past week's stories. -- Paula Vasan

"One of the areas where we're actively looking for undisclosed and unmitigated conflicts is the trend among dually registered firms to move their clients from commission-based brokerage accounts to fee-based wrap accounts that offer advice and no commission trading for one bundled, asset-based fee."


-- Andrew Bowden, director of the SEC's Office of Compliance Inspections and Examinations, on how the regulatory body will be taking a hard look at dually registered firms and the use of non-traditional mutual funds.


Read the story:


Dual Registrants, Alternatives Top SEC's Concerns

"[FINRA] remains committed to getting authority over advisors. It's playing the long game. It's laying the foundation for a future lobbying effort, and it views advisors as both a regulatory and revenue opportunity."


-- Neil Simon, the Investment Adviser Association's policy chief, on the ongoing debate over FINRA versus SEC oversight for advisors.


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SEC Oversight Advocates Push Fight to Next Level

“Full and meaningful disclosure is a cornerstone of the markets. We see this cornerstone as being eroded.”


-- Jason Doss, an Atlanta-based attorney and president of PIABA, on why FINRA’s BrokerCheck service for investors is facing criticism on multiple fronts.


Read the story:


Why FINRA's BrokerCheck is Under Fire

"The average deal was a $1 billion or more RIA buying a mid- or smaller-size firm, a classic tuck-in. You didn't see as much peer-to-peer sales of firms, and RIAs moved ahead of roll-ups and other big strategic acquiring firms as the leading buyers."


-- Jonathan Beatty, senior vice president of sales and relationship management at the Charles Schwab division providing transition services to advisors, on 2013 emerging as "the year of the tuck-in" for RIAs.


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Advisor M&A: Who's Buying RIAs Now?

“We’re definitely seeing an uptick in interest in the banks that we work with around what we call an RIA approach."


-- Mike Norton, head of the banking segment for Fidelity Institutional, on how bank executives are kicking their wealth management businesses into high gear.


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Wealth Management on Pace to Become Growth Engines for Banks

"Anytime a smart and talented person with significant capital comes into the space, it's a further validation of the future of the independent channel. The lifeblood of the industry is assets, and asset flows are going to the independents."


-- RCS Capital chairman Nicholas Schorsch on why breakaway advisors may be playing a team game more often.


Read the story:


Merrill Breakaways Team Up to Partner With Dynasty

“Executives today don’t want a higher position so much as a broader position. They want to be stretched and challenged, and they want an opportunity to grow. They want to be able to help build a business, grow a company and develop new talent.”


--Kathy Freeman, president and CEO of her eponymous executive search firm, on what top advisors really want.


Read the story:


What Top Advisors Want: Equity & Career Growth

"There is real investment infrastructure being built in the [values-based investing] space. Investors are increasingly going to their advisors asking for us to include [these funds] in their portfolios."


--Ron Cordes, executive co-chairman of Concord, Calif.,-based AssetMark, which provides investment platforms to around 4,000 financial advisors, on why values-based investing is gaining steam.


Read the story:


Values-Based Investing Gaining Steam, Data Shows



Read more:


• Dual Registrants, Alternatives Top SEC's Concerns


• How to Help Clients Plan to Sell a Business


• Client Risk Tolerance Slides

From why FINRA's BrokerCheck service for investors is facing criticism on multiple fronts to why top advisors want equity and career growth, here are the most notable quotes from the past week's stories.

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