jeffnash

Under the right circumstances, Banks can be a great partner or succession plan for an independent advisor or RIA.  Unfortunately, not all banks are the same, but those that are progressive in their thinking can be a great partner or succession plan for an independent advisor.  Banks have money to spend and are continuously looking for ways to increase and diversify their revenue.  This isn't the first acquisition we have seen by a bank, and if the banks are smart, we may see many more. With my help, Hans and Salem Five recognized the synergies between the two firms which is what made this a great deal for both.  For me, it was a great opportunity to consult on this, to help it come together and get it done.   Reposted from INVESTMENT NEWS   READ THE ENTIRE ARTICLE HERE

Both RIAs and Broker/Dealers will have the same fiduciary standard when selling investments or making recommendations to clients.  This issue dates back to 2010 when Dodd/Frank officially became a law.  For those of you who aren't tracking the status of Dodd/Frank, within Dodd/Frank there is a provision for the SEC to develop a single fiduciary standard for Broker/Dealers and RIAs.  The SEC was supposed to report to Congress back in 2011 if a single fiduciary standard should be required, the SEC determined that it was needed.  Congress then empowered the SEC to determine the cost and best way to implement a single standard, which is where it is stuck today. The DOL has accomplished in about a year what has taken the SEC over five years and counting to work on.  However, now that the DOL has done much of the heavy lifting for the SEC, expect to hear more from the SEC about a [...]

The final version of the DOL's proposal is expected in the next 30 - 45 days.  It is expected to change the way advisors sell products in retirement accounts and decrease the commissions generated from those sales.  There are advisors that have spent years building a recurring revenue business utilizing investments that pay a trail commission and the DOL's proposal may force that business to change virtually overnight.   The solution, according to the DOL is to do more fee based business and RIAs are cheering as they believe they have the best business model for clients.  However, the DOL's proposal may also impact how RIAs service clients.  If you are your own RIA or considering forming your own RIA, then you will want to know how the DOL proposal may impact your business as well.   Reposted from Finacial Planning Magazine   READ THE ENTIRE ARTICLE HERE

"Independent BDs are facing a number of regulatory changes in the next 12-24 months.  The winning firms will be those that are best positioned to adapt."  Reposted from Investment News.com While everyone seems focused on the DOL's proposal, it isn't likely going to be the only major change the industry has to deal with in the next few years.  Expect Dodd/Frank and Fiduciary Harmonization to begin to receive a lot of headlines on the heels of the DOL's proposal.   READ THE ENTIRE ARTICLE HERE

The DOL's proposal has just taken the next step in becoming a reality.  Reposted from Think Advisor.com   The DOL filed with OMB late Thursday its rule to change the definition of fiduciary on retirement advice. As anticipated, the Department of Labor sent late Thursday its rule to redefine fiduciary on retirement advice to the Office of Management and Budget for its mandatory review.   READ THE ENTIRE ARTICLE HERE