Practice

What is your unique value proposition? What is the strategic direction of your practice? What can you do that will really drive referrals? The best answers may come from consultants often underutilized by financial advisors – your clients.

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.

Three hires come from Morgan Stanley Smith Barney and another advisor joins from Oppenheimer & Co.

Commonwealth Cares currently has a little under $1 million to support its initiatives.

House Ways and Means Committee Democrats introduced a bill on Thursday that would reinstate Build America Bonds, the higher small-issuer limit for bank-qualified bonds, and six other bond, tax credit and loan guarantee programs.

Empowering the SEC to adequately monitor markets would help restore some faith in the U.S. capital markets, according to the industry group.

The new plans come as Baird plans to grow its advisor force by 150 in the next several years.

Insurance companies and investment firms offering retirement services to companies large and small are learning that attention to detail, an improved communication with plan sponsors and, indirectly, plan participants can dramatically improve their customer retention and satisfaction rates.

The MICG Investment Management of Newport News, Va., and barred its chief executive and majority owner, Jeffrey A. Martinovich, from the securities industry.The move, signaled in February and announced Thursday, follows what the independent regulator of brokers said was misuse of a hedge fund, for personal enrichment of Martinovich and general enrichment of the company.

Lincoln Financial Group is recommending that workers use the 2% reduction in Social Security tax as additional retirement savings. It joins the company of The Hartford and ING which have made similar recommendations.