Practice

Inefficient account opening processes are leading to client defections and advisor dissatisfaction with broker-dealers, according to a report released by Aite Group on Tuesday.

We have been inundated with conversation recently around the ongoing debate of suitability versus fiduciary care for clients. This debate comes down to the "advisor" against the "broker" and vice versa. FINRA and the SEC. In almost every article and conversation on this topic I conclude that there is a clear lack of understanding of how the "other" is serving their clients.

The New York investment bank has filed a request with FINRA to withdraw from the brokerage business, after being fined for breaking 'information barriers.' Its parent company said it will still try to commercialize its DIrect Markets technology.

A Florida federal court rejected Merrill Lynch's petition to vacate an arbitration decision on Monday, clearing the way for two financial advisors to receive a $10.25 million awarded to them in April.

As the advisory universe ages, it's inevitable that more advisors will retire, become disabled, or die. Just as inevitable, there will be more sales of interests in advisory practices or entire practices. But just how valuable will those practices be, with most clients drawing down rather than building up the assets that advisors manage?

As wealth management firms journey into emerging markets, asking the right questions in the right manner will reduce the risks associated with client selection.

ING U.S., the holding company for ING U.S.'s core Retirement, Investment Management and Insurance businesses, has expanded the roles and responsibilities for some members of its executive team.

The FDIC is trying to help bankers prep for exams and more clearly understand the results as part of a broader effort at improving relations, Martin Gruenberg, the agency's acting Chairman, said.

J. Kevin Stophel has moved on after 13 years with the firm to establish an independent wealth practice partnered with Concert Advisor Services and Concert Wealth Management Inc.

Planners who structure their practices in a way that compels their best clients to mention them to friends and family will enjoy a steady stream of right-fit business.