Practice management

Two former wirehouse advisors have gone independent in Baltimore and Bethesda, Maryland.

Paul Lofties, who has been promoted to senior vice president of wealth management at Securities America, said that reaching wealthy investors has been a challenge for independent broker-dealers because “traditionally, high-net-worth individuals have done more investing with wirehouses” but he has a strategy for success.

The current economic recovery, while slow, is on track. Fiscal cliff fears have been grossly exaggerated, to the detriment of investors and planners. And sometimes there’s an upside to a modest recession.

Though many advisors say that they want to boost client satisfaction, most don’t know how to make it happen. By taking the right steps to keep your clients highly satisfied, you will be able to position your practice for stronger growth.

The Internal Revenue Service has released a long-awaited set of rules for correcting employee retirement plans that fail to meet the requirements of the Tax Code.

Should you give all of your clients the exact same level of service? Even if you wanted to, would it be best for your practice?

Don’t get caught in the weeds. From managing clients and their assets to hunting for new prospects, it’s easy to get caught up in the “doing” and lose sight of what it takes to run your practice.

If you can’t articulate the value you provide clients, why should anyone else be able to?

Changes in the independent advisory industry, shifting demographics and advances in technology make the ability to communicate your value critical to your success, according to Tom Nally, president of TD Ameritrade Institutional.

The SEC has already missed its end-of-the-year deadline on laying down rules for so-called crowdfunding of new companies. But FINRA has jumped into the regulatory void, issuing a voluntary form for prospective funding portals.

You don’t have to go it alone, but finding the right partner is critical.

When it comes to ultra-high-net-worth investor, more money means they want to remain more hands on.

Every once in a while, advisors are presented with special opportunities to build trust and win client loyalty. It’s when clients are feeling excessive fear, uncertainty, or doubt, that it is your responsibility to reassure them, educate them, and guide them. With so many factors impacting your clients right now, what do they need from you?

You aren’t the only one who is swamped during the day. There are bound to be people you can’t reach.

More than eight in 10 American millionaires believe that each generation should be responsible for creating its own wealth, up from 65% who said the same thing in 2007 when the survey was last conducted.

As the wealth management industry continues to evolve, financial advisors have a broader range of choices than ever before in determining the structure and growth trajectory of their own practices. Competition for successful advisors with strong books of business among the wirehouses remains fierce, while opportunities for ownership in that world remain elusive.

Fresh from year-end tax planning meetings with clients, it is time to identify four areas where great tax planning and great financial planning collide, specifically for people accumulating wealth.

As advisors wait to see whether they'll be regulated by the SEC or FINRA, the SEC announced that its enforcement director, Robert Khuzami, will leave the agency.

A new mobile application from Peak Advisor Alliance aims to revolutionize the client-advisor relationship.

What trends stand to reshape retirement planning in the new year?