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Posted by fi360 Team on March 10, 2014 in Fiduciary Links>>>Bankers will grow, conservatively, in their competition with RIAs in the next five years, according to this Fidelity Institutional Wealth Services study. The study, which included over 140 bank executives, uncovered a few keys to success, as well as the unique challenges faced by bankers in the wealth management business. The findings represent a change from recent years, and a shift in focus for management. The unique challenges perceived included internal training and the need to keep up with technology. First on the list was the perception of investors. Read the list, and accompanying information, here. A large...
Posted by fi360 Team on March 03, 2014 in Fiduciary Links>>> In his most recent Fiduciary Corner column for InvestmentNews, fi360 CEO Blaine Aikin highlights SEC's initiative to examine many advisers who have never before been examined. There are currently 4,000 SEC-regulated RIA firms who have never been subject to an SEC exam. The new initiative will result in approximately 25% of those firms to finally be examined. Blaine makes the case that whether or not your firm does become targeted for an examination, now is the time to start preparing for it. For one, you don't want regulators to bring to light any deficiencies which you...
Posted by Rich Lynch on February 26, 2014 in In the News>>>Last month the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued Risk Alert 2014-14 on the due diligence processes that investment advisors use when they recommend or place clients’ assets in alternative investments (alternatives) such as hedge funds, private equity funds, or funds of private funds. Fiduciaries who invest in alternatives or complex strategies involving derivatives must possess and apply special analytical skills to fulfill their obligation of care because these investments are generally not regulated, transparent, easily valued, or marketable. In addition, fiduciaries who represent that certain due diligence activities are...
Posted by fi360 Team on February 18, 2014 in>>> If you're like most Americans, you've been following the Olympics daily as these superb athletes battle it out in efforts to obtain one of thesought-after medals. This InvestmentNews article takes an interesting approach, what would it mean if more advisors had coaches? Atul Gawande, New York Times bestseller and surgeon, noted recently that nearly every Olympian has a coach. He wondered what holds most of us back from having a coach. Is it pride? Is it the wrong time? Could each of us benefit from having a personal guide to...
Posted by Duane Thompson on February 12, 2014 in In the News>>>Financial advisors, typically those who are fiduciaries, counsel their clients to ignore the cacophony of market noise surrounding them on a daily basis. Better to concentrate on the importance of staying the course for the long-term. These same advisors would be well-advised to take the same sort of medicine with regard to the long-term outlook for the much-maligned but enduring fiduciary standard. At a recent TD Ameritrade Conference, as well as in other commentary in the trade press, some in the ‘purist’ camp of the fiduciary movement now argue that the SEC&rsquo...