Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
February 14, 2014 10:13 AM
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
From wirehouse CFPs talking about not telling clients they weren't really fee-only to industry researchers discussing the opportunities for advisors with LGBT planning expertise, here are the most notable quotes from the past week's stories. Disagree with any of them? Let us know in the comments section below. -- Paula Vasan
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
"There appears to be a greater proclivity to discount fees for large account relationships, even from these lower incremental levels.”
--Dr. Kenneth Kehrer, a principal of Kehrer Saltzman & Associates, who found that banks with more trust assets under management produce less revenue on average than banks with fewer assets.
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
"We believe the advisors that utilize being knowledgeable about the unique legal challenges that [LGBT investors] face will see great loyalty from them. If the advisor does that it demonstrates that they care and have a personalized solution."
--George Walper, president of the Spectrum Group, on the opportunity for advisors to help LGBT investors facing complex legal issues.
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
“The traditional place we have gotten growth is from people in their 30s and 40s and we would expect that to continue."
--Ray Ferrara, new chairman of the CFP Board, on the board's goal of growing the number of CFPs to 81,000 by 2017.
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
“I think direct providers are truly growing but I think that bank advisors can still make waves."
--Roger Stamper, a senior analyst at Cerulli Associates, on how opportunities for advisors are widening even as clients increase the number of providers they use.
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
“I’m not going to tell anyone that I changed my disclosure. The issue is that most clients do not have a clear [understanding] of these definitions.”
--Geraldo Alves of Merrill Lynch in Pasadena, Calif., who is one of 8,000 advisors who were affected in September when the CFP Board abruptly and unilaterally removed all fee-only compensation disclosures from advisor profiles on its website.
Week's Best Quotes: 'I'm Not Going to Tell Anyone I Changed My Disclosure'
Millennials seek mentors that will take an interest in them and help them grow towards goals. Theyre used to feedback and they want it in the workplace.
--Cam Marston, president of Generational Insights, on how to hire a millennial amid the advisory industrys talent shortage.
Read the story:
How to Hire a Millennial
