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Don’t Copy Your Competitors

U.S. stocks moved higher Monday after Greek lawmakers approved the financial reforms needed to secure its latest bailout package from the IMF and the EU, a development that Wall Street has been anticipating for weeks.

MIAMI --The next crisis in the financial services industry may have nothing to do with overextending credit or breaking the buck. The next crisis could be a ‘technology shock,’’ according to fund executives.

Bonaire Software Solutions LLC has added modules to its REVPORT revenue management system that will automate distributor rebate fee calculations and invoice reconciliation.

SunGard has added a mobile trade authorization capability to the SunGard Global Network (SGN) Short-Term Cash Management portal.

The SEC is about to announce reform of money market funds that is likely to include letting the net asset value float, long anathema to the industry. James P. Palermo, Vice Chairman of BNY Mellon though wants to know: What happens if that part of the mutual fund industry just goes away?

Planner, author and New York Times blogger Carl Richards, founder of Prasada Capital Management, has joined St. Louis-based BAM Advisor Services as its director of investor education.

The next black swan in the financial industry is likely to be rising interest rates. And there could be a “good” black swan event: a rally over the next 10 years in stocks, said speakers at NICSA’s 30th Annual Conference and Expo.

Former Morgan Stanley senior executive, advisor joins Beverly Hills Wealth Management as new senior vice president.

Thomson Reuters announced the launch of a powerful new tool that supports investment professionals’ need for tighter integration between macroeconomic research and fundamental analysis.

The Money Management Institute (MMI) has hired data management vendor Coates Analytics to help the Institute in an initiative to compile the sales, distribution and other information of its broker-dealer sponsors and money managers—all on one system.

Raymond James is being more diligent about highlighting its RIA business as an attractive place for the industry’s best advisors.

Advisors who make investment decisions on behalf of their clients in rep-driven managed accounts are very likely to see their business grow, according to projections by Cerulli Associates.

Bank of America’s health savings account business rose 34% with the addition of 50,000 new accounts last year, as it also integrated that business in its institutional retirement business.

Should the stock market turn solidly bullish, small-cap stocks could be poised for good returns. But small caps are generally more volatile and less widely analyzed than large-cap stocks, making some planners and their clients leery of the sector. Craig Hodges, portfolio manager of the Hodges Small Cap Fund, talked to Financial Planning about his views on where small caps are going and how advisors might approach investing in them.

A year ago, the firm’s more than 4,000 advisors in the United States had to manually submit each post in advance for review. Now, Raymond James Financials has automated the compliance and publishing process, to speed up communications with customers.

Marketing expert Marie Swift says financial advisors who embrace videos, podcasts, recorded multimedia presentations and live online meetings can connect and build rapport with clients in a fraction of the time and more cost effectively than ever before.

ProShares Trust has expanded Citigroup’s regulatory administration services contract to include the alternative investment manager’s exchange traded funds.

Following ProShare Advisors' roll out last month of the first 30-year breakeven inflation exchange-traded funds, the company now offers a 10-year version.

A year ago, the firm’s more than 4,000 advisors in the United States had to manually submit each post in advance for review. Now, Raymond James Financials has automated the compliance and publishing process, to speed up communications with customers.