Milton Shaffner, 92, is tired to prying bulky mutual fund publications out of his mailbox, and is lobbying the industry and regulators to cut back on paper, the South Florida Sun- Sentinel reports. “I don’t think anyone sits down and reads a 242-page report on his funds,” the retired lawyer said. So he wants fund companies to stop clogging his mailbox and spending shareholders’ money to produce and mail them. The Pompano Beach man also questions why he gets book of information dedicated mainly to funds he does not own, rather than only the pages relevant to his holdings. Of course, Shaffner’s contention that investors don’t read these lengthy disclosures—seven of 10 never looks at them when choosing funds—dovetails with
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Two experts in mergers and M&A sales explained how and why RIA owners need to clean up their data, get a formal valuation and figure out other technical questions before they make a succession deal.
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Industry consultants recommend steps RIAs in Schwab's referral network can take if they're worried about competition for clients.
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Over the past decade, the annual revenue gap between LPL and any other independent brokerage has soared to more than 100% from less than 1%. But that doesn't mean that the No. 1 firm can rest on those laurels.
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As analysts raise concerns that AI could undermine the economics of generous transition deals, executives at Ameriprise, Stifel and Raymond James wonder if firms are paying too much to recruit advisors.
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