By Mindy Diamond, WealthManagement.com – Over the past several years, big brokerage firms have become more risk averse, creating an incongruence between advisors who want to provide a customized experience for their clients and compliance departments that continually want to tighten the box around them. Advisors at big firms have found themselves in a world driven by a zero-tolerance culture, where compliance departments rule with a heavy hand and management is focused on the lowest common denominator.
By Mindy Diamond, WealthManagement.com – Too many times in the past year alone, I have been the recipient of a frantic call from a quality advisor who has just been terminated. In almost every case, what started off as a typical day quickly turned into a nightmare—a termination without notice and a security escort to the door. When that happens, advisors find their entire careers and relationships with their clients in jeopardy.
2016 can easily be described as a year of tumult and volatility. Yet, amidst all of the drama, firms are working to meet the challenges of a more stringent regulatory environment and business models are evolving. While advisors ride a roller coaster of change, new opportunities are emerging for those who keep their eye not on the headlines, but on their future.
Mindy Diamond Quoted – By Megan Leonhardt, WealthManagement.com – The Securities and Exchange Commission recently approved the Financial Industry Regulatory Authority’s plan to reduce the previously established 15-day waiting period to publish details of advisor terminations and investigations on its BrokerCheck system, according to a regulatory notice published Monday.
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