Practice management

Allianz Global Investors white paper authored by UCLA professor Shlomo Benartzi is offering several tools drawn from the field of behavioral finance to help advisers help their clients.

The unit of Bank of America Private Wealth Management said Wednesday that it hired Greg Khost as a managing director and regional executive in Florham Park, N.J., Donald R. Quattrucci, as a managing director and market investment executive in Rhode Island, and Nancy E. Anderson, as a senior vice president and private client advisor in Minneapolis.

I've put on my annual to-do list that sometime this year I'll create a Facebook page, and Lord help me, I may even start twittering before long. This means I'm about to stick my toe into the dreaded Social Media world.

If financial advisors really want to increase the likelihood that their clients will commit to and execute on the retirement savings plans they've devised, they should ask less questions, use lots of simple visual aids and talk to them like eight-year-old children.

Corporate cultures will ultimately define how far social media tools go in helping banks and financial services firms deliver services to customers.

Financial institutions should be aware of what investors are posting about their firms to sites like Twitter.

Bank of America has hired Morgan Stanley's chief information officer of enterprise infrastructure, David Reilly, away to be CTO of B of A's Global Wealth and Investment Management team.

Frank LaRosa, a senior vice president and office manager at Morgan Stanley Smith Barney’s Philadelphia branch has been terminated, a firm spokesman confirms.

The Financial Industry Regulatory Authority has proposed that broker-dealers disclose any revenue-splitting arrangements they have with mutual funds at the time they sell their shares to investors.

Among other things, the rules are expected to keep executives or employees of credit rating agencies from going to work for the companies whose credit they have rated, for at least one year. The proposals are also likely to block agencies from having a person who markets its products or services also participate in its ratings.

Baby Boomers are getting older and so are their advisors which means it's high time to start planning for the next chapter for both parties. But it's easier said than done.

Evolve or perish. That was the general theme of the opening keynote address here today at the National Association of Personal Financial Advisors' national conference delivered by Doug Lipp, a motivational speaker, author and former head of corporate training at Walt Disney University.

The new recruits previously handled $1.5 billion in assets under management at Bank of America Merrill Lynch, Citi Private Bank, Morgan Stanley Smith Barney and Oppenheimer Holdings.

The advisory profession needs to create a repeatable and transparent experience that is client-centric, similar to what iTunes did for music lovers and Starbucks did for coffee aficionados.

Myriam Soto and Douglas Schaenen will serve in new managing director roles, working to help expand BNY Mellon’s international wealth management business.

Kasina says the asset management firms listen to and engage with their audiences.

As the government builds a new regime for writing consumer protection rules, an existing bank regulator has put a twist on enforcing them.

To lead a successful financial advisory team an advisor needs four things: Communication, collaboration, structure and process, said William Stepanek of Morgan Stanley Smith Barney in a workshop during IMCA’s annual conference.

Dividing up computing capacity inside an organization is not only cutting a company's ties to fixed-in place servers -- it's cutting the cords of managers to the hardware that they are supervising.

The two-day collapse of Amazon Web Services last month is the kind of incident that underscores the concern that continues to keep critical applications, such as Wall Street's trading programs, out of remote, hosted online services and data centers, said Geoff Tudor, chief cloud strategist at Hewlett-Packard Company.