[September 20, 2013] Finra will send a proposed rule to the SEC requiring brokers to inform clients of large incentives they receive for switching firms, the regulator announced yesterday.
In the News
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[September 19, 2013] The brokerage industry’s self-regulator Thursday approved a proposal that would require brokers to tell their clients about any big bonuses they receive when they change firms. The major brokerages rely heavily on recruiting already successful brokers, but the bonuses that are paid have always been a private matter. Read more… […]
[September 13, 2013] FINRA is contemplating a rule that would require brokers to disclose any incentives they receive to jump to another firm. It’s likely to pass and that will change how recruitment deals are structured in the future.
[August 12, 2013] The independent b/ds are now formidable competitors to the big wirehouses. Branch managers ought to take a page from the independents to lure and keep their top talent. Years ago, the wirehouses didn’t consider independent broker/dealers a threat to their business—but rather the place unsuccessful brokers go when they fail at their […]
[August 8, 2013] A few short years ago, it was a generally accepted notion that only advisors who “couldn’t cut it” at the big firms went independent. But this perception seems to have been turned on its head since the onset of the financial crisis in 2008 as an ever-increasing number of successful advisors have […]
[July 24, 2013] This RIABiz rapport with the RIA business carries over to the quality of our columnists… But it also finds powerful voice in the words of Brian Hamburger, Robert Boslego, Jack Waymire, Eric Clarke, Sheldon Geller, John Furey, Brent Brodeski, Mindy Diamond, Rob Isbitts, Lyman Howard, Sandi Martin, Aaron Klein, Jason Lahita, Mike […]
After ‘disturbing’ RIA losses at Raymond James, Bill Van Law is going on offense-starting with hires of verteran LPL and Fidelity execs
[July 23, 2013] The big Florida custodian and broker is finally holding itself accountable to a stiff target — doubling to $16 billion in two years — as it buys up expensive talent while cutting prices Brooke’s Note: We have various independent voices in this article, including Danny Sarch and Mindy Diamond. But nobody, I […]
[June 27, 2013] Videocast: As part of a celebration of its 15th anniversary, InvestmentNews will host a videocast featuring three industry leaders who not only have watched the advice business change over the years but have been among those affecting its growth.
[June 10, 2013] With wirehouses offering juicy retention packages, don’t try to go dollar for dollar to compete with them, said headhunter Howard Diamond, managing director of Diamond Consultants. Instead offer things that play to your own strengths: the appeal of independence; work-life balance options such as letting a parent work at home two days […]
[June 10, 2013] Two female industry leaders on what to consider when office managers recruit women advisors. The financial advisory industry is struggling with a shortage of talent, thanks in part to a post-recession reputation challenge and a sometimes closed, largely male, culture. Opening up employment opportunities to women advisors would seem to be a natural […]