Slideshow Week’s Best Quotes: ‘Learn How Decisions Are Made’

Published
  • January 28 2014, 9:47am EST
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Jan. 28, 2014

From regulators' crossed signals to perceptions of subpar service, what follows are the most notable quotes from the past week's stories. Disagree with any of them? Let us know in the comments field at the bottom of each slide. -- Paula Vasan

“We have different regulators trying to achieve the same outcomes, and not always coordinating.”

-- Kenneth Bentsen Jr., president and CEO of SIFMA, on Title VII of Dodd-Frank and the risks associated with the implementation of the Volcker rule.

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"For a firm like ours, regional growth makes a lot of sense. For a consolidator, it doesn't really matter."

-- Neal Simon, Highline Wealth Management CEO, on Highline's focus on regional growth.

"I don’t know that I’d call [not responding to questions] common, but I think it’s more common than those interested in fairness and justice would prefer.”

-- David Min, assistant professor of law at the University of California-Davis, on a CFP Board representative's refusal to answer dozens of questions during the first deposition of a lawsuit filed by two Florida planners against the board.

"Advisors are going to have to get more creative with ... their fees and possibly how much they charge.”

-- Bob Oros, executive vice president of Fidelity Wealth Services, on a study showing that only 51% of "emerging millionaires" -- people with an average of $800,000 in assets -- use financial advisors.

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"High-net-worth investors appear reluctant to terminate existing relationships.”

-- Donnie Ethier, associate director at Cerulli Associates, on a Cerulli study that showed high-net-worth clients average 4.4 advisors.

“Finding top advisors and pulling them over ... is a difficult thing to do in this day and age.”

-- Brent Smith, manager of the investment services program at Susquehanna Bank, on why banks that are having trouble attracting advisors should bring in junior brokers.

"Nearly 30% of survey respondents rated investment in technology as a desired outcome of planned organizational changes.”

-- Cindy Erickson Zarker, director at Cerulli Associates, on financial services firms' 2014 focus on products, distribution and technology.

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“[In] the last couple of years, we hadn’t grown at all because we didn’t have the support behind us.”

-- Thomas Dornoff, cofounder of Granite Financial, who says his breakaway firm can finally focus on growth after six years of poor service from different wirehouses.


“If you want to fix your investment committee, ... start by learning how decisions are made within groups."

-- Consultant Tom Brakke on why too many investment committees fall into common traps like chasing performance and groupthink.