Practice

While the financial services community waits for some movement from the SEC on new rules and policies governing advisors, the Labor Department has taken it upon itself to get the ball rolling in the name of better protecting investors and pensioners.

Roy Seay and Carolyn Edwards each worked at UBS for 11 years and together had $850,000 in annual production.

RIAs are embracing the idea of shaping their compliance procedures around what could go wrong.

The Financial Industry Regulatory Authority has fined Dallas-based financial services company Southwest Securities Inc. $500,000 for soliciting violations related to its municipal securities business.

A well-prepared professional approaches turbulence and dire conditions that present themselves calmly and confidently, performance consultant Dr. Rick Jensen told attendees of the Bank Investment and Securities Association in the closing keynote Tuesday.

Social media has become an inescapable force, but many in the financial services industry are still holding back from using it.

Client satisfaction and loyalty are poor indicators of a likelihood to refer. Julie Littlechild, President of Advisor Impact, de-mystifies the process for advisors attending the FPA Business Solutions Conference 2011.

The brokerage adds Rob Pietroburgo from Wells Fargo to its Springfield, Ill., branch as part of its advisor and branch expansion strategy.

Since the recession, institutions have had difficulties garnering trust, with 75% of those surveyed in a recent Capco/Tower study saying their trust in large institutions decreased after 2008. Making matters worse, 25% of financial advisors and wealth managers are leaving their firms and going independent, taking trusted client relationships with them, said Alvi Abuaf of FIS in a breakfast session at the ABA Wealth Management Conference Tuesday.

The company added six wealth executives in California, two in St. Louis, two in Washington state, one in Portland, Ore., one in Nasvhille, one in Portland, Maine, and one in Chicago.