Practice

In the wake of the economic downturn that pummeled markets and investor accounts, one would think financial advisors would have learned that forging and maintaining extensive contact with their clients is critical to keep and finding new business.

Despite the warnings from financial planners, relatives and the media, nearly two-thirds of Baby Boomers surveyed said social security will be either an "extremely" or "very" important source of income when they retire.

Twenty-seven percent say they are “not at all confident” they’ll have enough money, according to EBRI.

Lawmakers on Tuesday moved forward with two legislative efforts to overhaul the U.S. tax code, which would either halt, or threaten, tax-exemption for new muni bonds.

Independent financial advisors are criticizing the Municipal Securities Rulemaking Board’s draft changes to its rule on gifts and gratuities, warning they don’t go far enough to eliminate conflicts of interest.

The House Financial Services capital markets subcommittee was expected to pass as early as late Tuesday eight bills intended to jump-start reform of the government-sponsored enterprises despite efforts by Democrats to oppose the measures.

A Financial Industry Regulatory Authority hearing panel expelled a California broker-dealer from the securities industry, for failing to implement and enforce an anti-money laundering program.

Along with cool-headed holistic advice, of course, investment management is probably the most important component of a financial planning and advisory practice.

A New York judge has dismissed a class action lawsuit against State Street as the sponsor of a mutual fund, saying that even though the mutual fund misrepresented its risks, investors were not harmed. That's because the fund correctly calculated its net asset value.

In the past, the Protocol was used to ease the ability of the big firms to recruit. Now, however, the Protocol is also being used by advisors to break away on their own, and some Wall Street firms are taking steps to prevent that and weaken the Protocol in the process.