Practice

Social media platforms Facebook, LinkedIn and Twitter allow advisors to build new relationships and market their firms, but success varies from platform to platform.

The CFP Board permanently revoked the right of William B. Smith of Grafton, Mass., to use the CFP designation after investigating allegations that he fraudulently used $1.2 million in client’s money for his own benefit and moved $25,000 from another client to his own account.

A prolonged low-interest-rate environment has compelled high-net-worth investors to seek out dividend-producing stocks and corporate bonds with renewed vigor, according to a new survey by Fidelity Investments.

On June 21, 2012, Paul Schott Stevens, president and chief executive officer of the Investment Company Institute, gave his perspectives on money market reforms today in front of the Committee on Banking, Housing, and Urban Affairs in Washington, DC.

The regulator announced Thursday it fined Merrill for “supervisory failures” and “for failing to provide certain required trade notices.” Merrill has provided $32 million in remediation, plus interest, to the affected customers.

Ranging from 13 to 22 years old, some members of Generation Z may have just gotten their first cell phone, but that does not mean advisors should ignore them.

Fed Chairman Ben Bernanke suggested that the Volcker Rule to ban proprietary trading would have helped to prevent the $2 billion credit loss at JPMorgan.

Social media record keeping may become a larger challenge for firms as they keep pace with regulatory rules, Bank of America Merrill Lynch executive Douglas G. Preston said Wednesday at the Securities Industry and Financial Markets Association’s Social Media Seminar in New York.

On June 20, 2012, Callan added John P. Jackson to its Fund Sponsor Consulting group as senior vice president, effective June 18.

On June 20, 2012, if money market mutual funds shift to a floating net asset value, impose redemption holdbacks or seek additional reserve capital through fees, corporations say they would stop investing in these vehicles and most likely reduce or fully liquidate their holdings, according to data released today by the Association for Financial Professionals.