Practice

The Federal Deposit Insurance Corp. took seven enforcement actions and freed 13 banks from orders in June, according to a list of regulatory actions released Friday.

Most advisors continue to check in with phone and email messages and continue to do some work even while on vacation. Dave Grant shares the steps he took to completely cut himself off from work for a family vacation.

Conventional wisdom has it that today’s low investment yields tend to harm low-income retirees, who receive little or nothing from the bank accounts and bonds they had counted on for spending money. That’s certainly the case, but a recent study from the Employee Benefit Research Institute (EBRI) found that low yields have even more impact on younger workers as well as on people with high incomes. Agreeing with those conclusions, Barton Close, vice president of investments, in the Chattanooga office of Raymond James & Associates, told On Wall Street, “Those low yields have turned around my strategies 180 degrees. Now I put more focus on current cash flow.”

What do you think? Is the younger generation breaking down the barriers and being more honest about their thoughts and feelings about money?

Eight-year-old financial services firm Kendall Capital Management recently announced that it exceeded its goal of $100 million in assets under management amid 36.8% growth in revenues over the past year.

Here’s how one advisor encourages philanthropic efforts of his clients by being a philanthropist himself.

Sheryl Garrett says privately held firm or group, such as Vanguard or NAPFA, or a major benefactor, would be ideal match for her low-fee firm.

Many advisors are eager to find new clients, but not sure where to start. Dave Grant says prospective clients can turn up anywhere.

The Federal Reserve Board will be expanding its yearly stress-test exercise next year to include 11 more bank holding companies, bringing the total to 29 firms.

The Securities Industry and Financial Markets Association is proposing a new “execution-with-diligence” standard for municipal trading that would require a dealer to use “reasonable diligence” to determine the market for a bond so the price it provides to a customer is “fair and reasonable under prevailing market conditions.”