Practice management

Two veteran founders of well-heeled financial planning firms—Richard “Richie” Lee of Lee Financial in Dallas, Texas and Michael Leonetti of Leonetti & Associates in Buffalo Grove, Ill.—readily confess that luck as much as deliberate strategy has contributed to their firms’ success.

Planners have readily adapted to the changing needs of their clients since the recession. Yet they need to engage clients in even more personal, meaningful conversations.

The CFP Board’s strategy of punishing some certificate holders over compensation disclosure issues in what critics charge is an arbitrary manner threatens the future of the CFP designation, according to one of the early leaders of the board who also chaired its disciplinary commission.

One of the biggest value adds advisors can provide is being able to pick up on warning signs that a client's family business may be in trouble. Here are six to look out for.

Exclusive: Without any notice, ‘fee-only’ is replaced with ‘none provided’ on CFP holders’ profiles.

Despite continued economic and market uncertainty, most advisors expect 2013 to be a good year according to a new poll released today by SEI.

Technical malfunctions at stock exchanges around the world are putting their owners’ credit ratings in jeopardy, according to Standard & Poor’s.

Business owners are often so busy with their work they put off personal financial planning and investment decision making.

Culture clash between merging firms can mean the end of even a well-planned deal.

FINRA is pressing ahead with a controversial new rule that would require brokers to make disclosures about recruitment compensation they receive as an enticement to jump to a new firm.

Brokerages from Morgan Stanley to Bank of America Corp.’s Merrill Lynch poach salesmen from one another, offering bonuses based on how much revenue they produce. Now brokers receiving bonuses of at least $100,000 will be required to inform clients.

Think you might be bored at your kids' birthday party? Think again. Dave Grant shares three business lessons he learned at his son's recent party.

Exclusive: Widespread abuse of the term raises question of a disciplinary double-standard.

Low rates and longer lives make the conventional wisdom of 4% withdrawal rates obsolete.

Financial services firms have to start recruiting the half-million college students who may be interested in becoming advisors, or risk having demand for financial advice outstrip supply within ten years, a new study from Pershing shows.

At a time when recruiting is down across the independent broker-dealer space, Cetera Financial Group has added 247 net new advisors nationwide between Jan. 1 and June 30, 2013.

Seeking to end probes of a trading debacle that damaged its reputation for risk-management, JPMorgan agreed to pay about $920 million for failing to implement adequate controls and providing incomplete information to regulators and its board.

When interviewing, hiring, and onboarding recent college graduates, financial planning firm leaders should plan to ask tough and innovative questions, listen extensively, and spend much more time and energy offering the new employees honest compliments rather than just criticizing them.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told employees to prepare for more legal woes while the bank undertakes an “unprecedented effort” to comply with regulations.

As desktop publishing has become less and less expensive and more advisors are building brochures to advertise their practices, marketing organizations are encouraging teams to articulate their value proposition to the marketplace. Here are two glaring errors that advisors must avoid.