Practice management

Now that financial regulators have finalized rules on social media interaction, firms like ING are, slowly and cautiously, beginning to let advisors experiment with social networks.

Bank executives expect to boost revenue from their wealth management practices 25% or more in the next five years, with some anticipating a 35% contribution to total bank revenue.

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

“Executives today don’t want a higher position so much as a broader position," says Kathy Freeman. "They want to be stretched and challenged, and they want an opportunity to grow."

In 2013, they produced an average of $381,411 in revenue for their financial institutions, up 31% from the previous year.

A $300 million settlement by JPMorgan Chase & Co. and insurers with homeowners who accused the bank of taking kickbacks in exchange for sticking them with overpriced insurance policies was approved by a judge.

U.S. regional banks see favorable growth prospects in Canada. Its limited number of banks seems to invite competition, and its regulatory and economic climates are considered more favorable than those in the U.S.

Most businesses start out small, and many don't survive. But for advisors who take the long-term view, there is a wealth of opportunity.

After Pershing executive Mark Tibergien discussed the challenge of attracting younger graduates to the profession, Twitter user @jdillon910 replied:

Profit sharing lies at the heart of Edward Jones' compensation plan, as the firm aims to grow its advisory staff and assets under management by more than a third by 2020.

A run down of stories in this issue, including our annual compensation round up.

Advisor compensation will grow in 2014, but to earn it advisors are being pushed to sell more than ever.

To build your business, get a hobby. Here are some ideas.

More emphasis on incentive pay, bonus pools and flexibility as firms scramble to lure and keep talent.

At the highest- performing firms, incentive pay and equity are becoming key components of advisor compensation.

Advisors can use powerful behavioral tools to help clients improve their own financial well-being.

As values change, a new view of business success is emerging. Use these criteria to make sure your own practice has an enduring future.

High-net-worth clients have more assets exposed to various claims so advisors should make certain liability insurance is far-reaching and asset titling decisions recognize creditor protection concerns.

The Treasury Department and the IRS released a final package of regulations recently to implement FATCA and amend the regulations to align them with existing tax rules.

Clients and their children are increasingly shifting their lives online, but without realizing the potential dangers to their digital assets.