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The founders of today’s most successful advisory firms won’t change because of an “invisible scar,” says columnist Bob Veres.

Regulations can take a long time to reverse.

Ensuring that a client's windfall today lasts longer than just tomorrow takes more than financial acumen, experts say.

Which banks are advisors moving to? One recently jumped to Woodforest National Bank from Merrill Lynch. Eight others switched to Arvest Bank, Northern Trust, Union Bank, U.S. Bank and Wilmington Trust from myriad financial services firms.

No performance chasers here; these investors buy on the downside.

The regional broker-dealer adds another team to its roster while wirehouses continue to scale back on recruiting.

As vice president of new product development, Yumi Clark manages a 50-person team committed to building new technologies and digital experiences that fuel America’s 28.8 million small businesses. She also serves as Capital One’s Bay Area site leader (overseeing approximately 650 associates spanning small business and technology) and heads up the San Francisco Women’s Network. Throughout her career in product management, Yumi has honed her specialty in creating new businesses and scaling ideas for large corporations. Using lean start-up approaches, Yumi has evangelized test-and-learn and fail fast methodologies to build successful technology ventures for Silicon Valley corporations including Adobe, Intuit, eBay and PayPal. In addition to her professional achievements, Yumi has a passion for education and sits on the board of InPlay, an afterschool and summer activities site for low-income children; the San Francisco Children’s Creativity Museum; and 500 Start-ups, which supports early stage start-ups through mentoring.

The RIA rep fabricated account statements and used forged letterheads as part of the deception, investigators say.

The top independents all state going public is a goal, but there are doubts about broad market support.