Practice management

Advisors who defect from wirehouses notice almost immediately the benefits of no longer facing constraints set by a large employer's compliance officers. But the newly independent advisors must ensure that they stay within the boundaries of regulatory requirements and that compliance never becomes too time-consuming.

Some breakaway advisors duplicate some of the rah-rah found at their former employers, others relish the newfound informality, but either way, they get to set the tone.

With roughly half of American marriages ending in divorce, advisors are likely to find themselves helping clients navigate the process. Financial advisor and divorce expert Michelle Fox warns advisors not to make clients promises they may not be able to keep.

The promise of a multimillion-dollar contract won’t be a factor in whether Tim Duncan returns for his 19th National Basketball Association season, even though the San Antonio Spurs’ All-Star lost more than $20 million to what he says is a dishonest financial adviser.

“The ‘couples conundrum’ is a real risk for financial advisors, who need to get closer to couples and make a deeper connection with them,” says Jennifer Pedigo, managing director for TIAA-CREF Asset Management.

The wirehouse pulled in recruits from rival firms UBS, Morgan Stanley, J.P. Morgan and Barclays.

Labor Secretary tells skeptical lawmakers fiduciary proposal is a needed investor protection, as industry representatives contend rules would force them out of retirement segment.

The new recruits had a combined $277M in client assets before making the move to the firm's employee and independent channels.

As advisors, women listen better; as clients, they want to be heard. On both counts, the time is now for women in the advisory industry.

How to help women in junior roles take the steps to become successful independent advisors.

The brokerage model as the industry knows it may be pushed aside by a future fiduciary standard.

Complacency is the latest threat facing federal employees.

Major corporate pension funds incurred an investment return of 9.7% from their hedge-fund investments last year, lower than 13.7% earnings and dividends posted by the S&P 500; Plus, how much of a client retirement portfolio belongs in bonds.

Debra Ann Paton worked in the brokerage unit of First Tennessee Bank in Johnson City, Tenn. She was expelled for allegedly filing phony expense reports.

A new Fifth Third social media campaign offers recent college graduates free one-on-one career counseling. The initiative is part of a trend of banks allocating marketing dollars to unusual perks and charitable giving to differentiate their brands.

"There’s a huge opportunity for wealth managers to provide advice and services around social impact," says Capgemini’s William Sullivan.

Wells Fargo Advisors hopes to have 5,000 out of its 15,000-plus advisors using social media tools next year.

Aggressive transition packages, expiring contracts and deals adding up to a 400% payout for some advisors are helping wealth management firms recruit new teams.

At SourceMedia's Digital Banking Summit, numerous bankers spoke passionately about the need for financial institutions to create intuitive digital-money experiences.

As more baby boomers age, withdrawals from 401(k) plans are outpacing new contributions, creating worries for asset managers; Plus, seven ways retirees can boost their income.