Practice

By listening to what individual investors are saying, wealth management firms can better serve various age demographics and clients, Bank of America President of Global Wealth Investment Sallie Krawcheck said at a FINRA panel.

They plan to boost their staff by 30% over the next 12 months, Fidelity finds.

Two big-bank executives said that unless Congress delays Dodd-Frank's cap on debit interchange fees, they are ready with options for new consumer and merchant fees.

College graduates who applied sound planning with following their passions had a much more satisfying college experience—and less debt—than those who did not, according to a study from Fidelity Investments.

Still, a majority of class of 2011 respondents, 66%, who are graduating with debt say the value of college is equal to or worth more than the debt accumulated.

In the May issue of Financial Planning magazine, I discussed how client perceptions may have changed over the past three years. I use the term Client 2.0 to describe this more-cautious and aware buyer, and offered thoughts on how you can better connect using an evolved Client Communications 2.0 plan. I spoke with several smart, accomplished advisors and industry consultants such as Ed Jacobson, Steve Saenz, Carol Anderson and Amy Mullen to hear their comments.…

While Congress, the SEC and individual states continue to work out the precise definition of a fiduciary and precisely what his or her requirements will be going forward, RIAs and other financial services professionals still need to take it upon themselves to implement best practices that will ensure they'll be in compliance whenever these new regulations are finalized.

FINRA has launched FINRA Disciplinary Actions Online, a searchable system that will give the public access to disciplinary actions for firms and registered representatives. It also adds another layer of transparency into the brokerage and financial advisory industry, on a firm and individual level.

Information on the original cost basis of stocks purchased by investors can now be transferred automatically in roughly 97% of cases.

Nearly 150 hand-picked and already highly successful Bank of America Merrill Lynch financial advisers next month will embark on what amounts to defined contribution retirement training boot camp at The Retirement Advisor University (TRAU) in pursuit of a Certified 401(k) Professional designation to further their DC expertise and differentiate themselves from other practitioners.