Practice management

The Securities and Exchange Commission has approved the proposal of a new rule designed “to prohibit certain material conflicts of interest between those who package and sell asset-backed securities (ABS) and those who invest in them.”

Most major corporations have "significant security gaps that leave sensitive board-level information open to information theft and hacking," according to the governance, risk and compliance unit of Thomson Reuters.

The commercial technology arm of NYSE Euronext said it began marketing a Windows plug-in that will deliver market data in real time to the desktop computers of traders.

The movement of credit-default and other forms of complex financial swaps into electronically managed and centrally cleared markets may be increasing rather than lowering risk, Michael Bodson, chief operating officer of Depository Trust and Clearing Corporation said Tuesday at SIBOS 2011 here.

Janus Capital Group has unveiled a new online retirement income distribution tool aimed at helping financial advisors keeping their clients’ retirement income evenly flowing for more than 30 years.

The Colony Group has agreed to turn a stake equaling 40% to 70% of its earnings over to Focus Financial Partners, but it is holding on to its independence and plans for aggressive growth.

By tapping into the psychology of why many clients resist financial advice, planners can help them conquer self-defeating beliefs that may block financial success.

Invesco has launched the PlanForward Consulting Series, aimed at helping 401(k) advisors and consultants “build a compelling value proposition and enhance their brand recognition.”

GuidedChoice has created a retirement plan “reality check” for participants to see how well prepared they are for retirement and how much income their savings will produce. The program also guides them to save more and offers access to professional advice.

PNC has launched the PNC Wealth Insight tool to allow high-net-worth clients see an aggregated, enhanced view of their assets.

President Obama announces a sweeping long-term deficit reduction plan that includes a proposal calling on federal employees to shoulder more of the burden of funding their retirement plans.

Citi Private Bank has formed a new group to expand its work with Asian clients in North America and named current Managing Director Ida Liu to head the group.

Investment advisor advocates are breathing easier after the Department of Labor announced Monday that it has pulled its current proposal on the definition of a fiduciary off the table. The agency will take up the issue in early 2012 and repropose a fiduciary definition after more industry input.

Around the time they turn 50, many people unconsciously begin to ratchet up their spending. Instead, prominent retirement planning scholar Alice P. Munnell thinks financial planners need to wage a campaign to get their clients to hit the pause button at this crucial midpoint in their lives.

Using a LifeBio Event can help financial advisors strengthen client bonds and connect with their heirs. Here is how one advisor created a “Norman Rockwell” experience for his very best clients and their special guests. It’s a smart way to build bridges and engage the next generation while positioning yourself as the advisor of choice. You can do it too.

Vanguard has announced it will pursue the small 401(k) market, i.e. plans with less than $20 million in assets and fewer than 1,000 employees, with low-cost, bundled plans administered by Ascensus.

Managing the growth of a small financial advisory firm is tricky but important as planners face decisions about growing the client roster, adding staff and maintaining work-life balance.

Planners can prove their worth if they find ways to lessen the chance that their clients will not outlive their retirement funds. David Blanchett, director of consulting and investment research for the Retirement Plan consulting Group of Unified Trust in Lexington, Ken., on Friday detailed how planners can implement sustainable withdrawal strategies so that retirement income works for their clients.

With an increasing number of countries now banning commissions for planners, many practitioners impacted by the changes are finding fee-only services actually benefit their businesses -- if they structure fees to match their strengths, according to panelists at FPA's annual conference in San Diego.

“The referral whisperer,” aka Michael Brizz, held a group of 100 financial planners rapt today in San Diego when he insisted that “there are literally thousands of referrals in your client database today. Clearly the opportunity is huge.”