Practice management

Mutual fund operators are beginning to use cloud services offered by NYSE Euronext, in its 10-month old launch of a platform for worldwide use of computing resources by financial firms.

Women advisors need to stop excluding themselves from male-dominated events if they want to continue rising through the ranks, advisors said at the NAPFA National conference in Chicago.

Tom Nally, TD Ameritrade Institutional’s new president said during a keynote address at NAPFA, that when it comes to appealing to women investors, advisors can't "just think you can change your font to pink and you have it covered."

Chairman Mary L. Schapiro said Friday that the SEC is in the midst of “honest open debate” on additional reform for the $2.6 trillion money market mutual fund industry. But she did not commit the SEC to proposing their net asset values be allowed to float, as a means of preventing a future run.

FINRA is substantially underestimating the costs to set up a self-regulatory organization for investment advisors, according to a review by an outside consulting firm. In response, FINRA says the review should be viewed with “skepticism and amusement.”

For years, advisors have waffled their way into utilizing social media, but most are failing.

Marc Cox, a reporter/anchor in St. Louis, will leave the station in May to become a financial advisor with Edward Jones there. Cox said he hopes to be licensed, trained and “ready to go” by late August.

A recent survey by TD Ameritrade uncovers how much financial trouble a fiancé will tolerate before calling off the wedding.

Brokerage firm Benjamin F. Edwards & Co. is expanding its virtual presence as it continues to hire new financial advisors, adding a new Twitter presence, corporate blog and YouTube channel.

FINRA has hired Robert Colby as its chief legal officer, replacing the broker regulating body's general counsel, Grant Callery, and its general counsel for regulation, Marc Menchel.

At the NAPFA National conference, a panel of advisors of varying ages, discussed how they have succeeded with the tricky task of planning and executing a succession.

Benjamin F. Edwards & Co. has opened of a new branch in the Portland, Ore., area staffed with a new team led by a former Wells Fargo financial advisor.

Younger members of ultra-wealthy households are grappling with their forebears for a say in wealth planning, and women are concerned about how money affects their relationships.

RBC Wealth Management has expanded its Illinois force with the hiring of a mother-daughter financial advisor team from Merrill Lynch and another female financial advisor from Wells Fargo.

Banks and credit unions looking to increase revenue from investment programs should hire more advisors, according to PrimeVest’s latest research. But existing advisors won’t welcome such a move.

Jeff Wolk, together with registered sales assistant Lillian Marini, has formed the Wolk Group of Raymond James.

The company said that the new hires bring the firm’s public finance team to 16, up from 12 individuals at the end of last year.

Planners want to use social media, but many remain overwhelmed about where to start and how to succeed. Industry coach Matthew Halloran offers some simple solutions.

Syntal formally opened on May 4, and includes Chad Clary and Dane Crunk, who had been employed in Merrill Lynch’s Private Banking and Investment Group since 2006. Also joining Syntal with the team from Merrill Lynch are Barry Brauchi, Cressinda Hyatt, Clarissa Kuzmich and Raquel Padilla.

But despite their understandable fear that rising health care costs will erode their retirement savings, more than a third of high-net-worth folks haven’t bothered discussed their well-founded concerns with a financial advisor.