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On Wall Street
May 1, 2013
Bill Willis |
How Advisors Can Prepare for Compensation Disclosure Rule New rules to disclose recruitment compensation may be blooming soon.   |
Registered Rep.
November 11, 2010
Kristen French |
Sources: New SEC Rules Won't Kill Upfront Bonuses New rules governing broker recruiting bonuses? The idea, floated by Mary Schapiro on Monday, met with skepticism this week from securities industry attorneys, compensation experts and recruiters. |
Registered Rep.
November 8, 2010
Kristen French |
Merrill Strengthens Golden Handcuffs For New Hires, Recruits Small Fry To receive all of his recruiting bonus money, a new hire must now stick around for 14 years, instead of nine, and all of the back-end money is now deferred, where a big portion used to be in cash. |
On Wall Street
June 1, 2013
Carri Degenhardt-Burke |
Clients Weigh In on Transition Pay Debate How will clients react if their advisors transition pay becomes public information? |
Registered Rep.
February 11, 2010
Halah Touryalai |
Victory For Broker in Citi Bonus Repayment Case A former Citi broker doesn't have to pay back the full amount owed on his sign-on bonus, a FINRA arbitration panel rules. |
On Wall Street
October 1, 2008
Danny Sarch |
Seven Reasons Why Advisors Move A firm that's hemorrhaging money isn't the only reason advisors leave. Company polices and management attitudes also play a part. |
Registered Rep.
June 17, 2011
Philip Palaveev |
The Problem with Recruiting Bonuses Too many advisors believe that broker/dealers have gone crazy and are paying great bonuses because they are very competitive. |
On Wall Street
November 1, 2009
Thomas Lewis |
It's Payback Time on Promissory Notes Firms have been fighting back against defecting advisors. Increasingly one of the most effective weapons in their arsenal is the enforcement of promissory notes. |
On Wall Street
October 1, 2010
Chris Kentouris |
Finra Wants More Details When Someone Gets Canned Advisors, take note: FINRA wants broker-dealers to provide more detail on the reasons for dismissing an employee in reports to the regulator. |
Investment Advisor
February 2010
Angela Herbers |
The Fast Track: Bonus Babies It's time to once again take a more serious approach to advisor bonus compensation. |
On Wall Street
May 1, 2010
Gerri Leder |
Keeping In Touch And Getting New Business With Social Media Personal use of Facebook and business use of LinkedIn are converging, sometimes leading to new business and sometimes just rekindling relationships with acquaintances who might otherwise be lost. |
Financial Planning
February 1, 2008
Bob Veres |
Death by Regulation The financial planning profession is about to fight for its survival against well-funded opponents. Here are some possible outcomes. |
Registered Rep.
March 1, 2010
Halah Touryalai |
Bonus Repayment Suit Turns Into Battle Over Forced Arbitration A court case over the repayment of upfront loans to brokers is turning into a legal battle over forced FINRA arbitration. |
Registered Rep.
March 15, 2004
David A. Gaffen |
Morgan Ups Offer to Prospective Candidates Industry recruiters say the firm has in recent weeks increased the upfront cash offered to top producers, while adding larger bonuses based on the first two years of production. |
Registered Rep.
January 27, 2012
Kristen French |
Due Diligence: FINRA's Merrill Fine is a Tap on the Wrist This week, FINRA fined Merrill Lynch $1 million for making it hard for former brokers of the firm to fight back in bonus disputes. |
On Wall Street
December 1, 2010
Alan J. Foxman |
When FINRA Intervenes Even non-member firms (such as registered investment advisors) can voluntarily agree to use either FINRA's arbitration or mediation services. |
Registered Rep.
June 4, 2012
Lauren Barack |
The Fishbowl Effect As financial advisor ratings websites like BrightScope and Advice IQ proliferate, advisors are going to have to get comfortable with having their records a click away from clients and prospects. |
Financial Advisor
June 2012
Jim McConville |
Advisor Groups Renew Challenge To Finra's SRO Cost Estimates A coalition of financial advisor industry groups last month resumed its assault on the Financial Industry Regulatory Authority's cost estimates for creating a self-regulatory organization to review investment advisors. |
Financial Planning
October 1, 2011
Jennifer Woods Burke |
The Risk of Hide and Seek Advisors are often guiding clients through financial nightmares rather than living their own. But a FINRA enforcement action this year demonstrates how easily your career can slip away if you don't properly disclose financial troubles. |
Investment Advisor
July 1, 2011
Bob Clark |
If You Want Something Done Right It's beginning to look like the only way Dodd-Frank reregulation is going to turn out well is if RIAs form their own SRO. |
Financial Planning
February 1, 2008
Marianne Czernin |
Compliance In effect now are stricter requirements to protect investors age 65 and over. Advisors, read on to see which areas you need to be vigilant in. |
Registered Rep.
January 13, 2010
Halah Touryalai |
Citi Files Motion To Dismiss In Bonus Pay Class Action The original lawsuit was brought on behalf of 6 former Citigroup brokers who allege that the payback terms on their upfront bonuses violate contract law, and that they do not owe the firm any money. |
Financial Planning
March 1, 2011
Larry Light |
The Tradeoff Registered investment advisors may end up getting to know a new regulator, but the tougher fiduciary standard they live under will also be extended to cover their broker-dealer rivals. |
On Wall Street
September 1, 2008
McMorris |
Taking Responsibility in Turbulent Times Accountability has quickly become the watchword of Wall Street these days. |
On Wall Street
July 1, 2009
Helen Kearney |
The 'F' Word Stirs Up Controversy Advisors who fall under the new fiduciary standard, namely investment advisors who run a fee-based business, must always put clients' interests before of their own. |
Registered Rep.
August 29, 2014
Diana Britton |
One Strike, You're Out When it comes to the world of independent broker/dealers, the Financial Industry Regulatory Authority is cracking down. Its stated 2014 priority is to focus its regulatory firepower on "high-risk" brokers. |
Financial Advisor
November 2011
Evan Simonoff |
What Gives At The SEC? For several decades, the Securities and Exchange Commission has contended that it does not have sufficient resources to examine and inspect RIAs. Consequently, many have concluded that Finra is the default option for all RIA regulation. |
On Wall Street
April 1, 2011
Alan J. Foxman |
The Whole Truth Advisor Q&A: Disclosure of conflicts of interest... Clients testimonials as advertising... Advisor representatives and outside business activities... Form ADV on a CD... Qualifications needed on Form ADV... |
Financial Planning
December 1, 2010
Donna Mitchell |
Turning on the Charm Next month the SEC reports to Congress on its recommendations for enhancing examinations for investment advisors. FINRA, meanwhile, is trying to persuade movers and shakers on the Hill that it already has the answers. |
Investment Advisor
January 1, 2011
Melanie Waddell |
FINRA Jockeys for SRO Spot as SEC Report to Congress Nears The Financial Industry Regulatory Authority is engaged in a full-court press to convince the SEC that it should be the SRO for advisors. |
On Wall Street
January 1, 2013
Elizabeth Wine |
10 Power Players for 2013 On Wall Street profiles the most influential personalities in the advisory industry this year. |
On Wall Street
June 1, 2010
Alan J. Foxman |
Holding the Check: Problem or No? Holding onto a client's check for more than a week... Lowering total commission limits... FINRA arbitration... What to do with proprietary mutual funds if you switch companies... |
Financial Planning
January 1, 2013
Bob Veres |
Future Tense for Financial Advisors With fiduciary advisors taking market share from the brokerage firms, will FINRA exact payback? Here s a glimpse of what may come. |
On Wall Street
June 1, 2009
Alan J. Foxman |
Anyone Around Here Know a Good Lawyer? Financial advisors ask their legal questions. |
Registered Rep.
October 5, 2009
Kristen French |
Citi Bank Brokerage Converts To All Fees Citigroup announced that it would convert its small North American bank brokerage business completely to a fee-on-assets-based fiduciary advice system, and would stop collecting commissions on stock and fund sales. |
Investment Advisor
June 10, 2011
Janet Levaux |
BDs Beware: Banning Facebook Is Bad Policy, Says Socialware's Chad Bockius Socialware CEO says that prohibiting use of Facebook, Twitter and LinkedIn might lead to financial advisors switching firms. |
On Wall Street
September 1, 2013
Kenneth Corbin |
Money Laundering Among Regulators' Top Priorities Now is the time to bone up on your firm's anti-money laundering policies and learn how to spot the funny money. |
On Wall Street
September 1, 2011
Alan J. Foxman |
To Share Or Not to Share (Revenue) I'm preparing to merge my small brokerage firm with a registered investment adviser. Do we have to wait for FINRA approval before we can close the transaction? |
Financial Planning
May 1, 2012
Jennifer Woods Burke |
Gotcha! Audits Get Tougher This year, the SEC and FINRA launched a webinar for firms detailing their expectations and reaffirming that whether a firm is large or small, regulators expect the same level of diligence when it comes to audits. |
Registered Rep.
July 30, 2009
Christina Mucciolo |
Financial Advisor To The Mafia? Do any of your clients have a connection to the Mafia? One lawyer specializing in securities law says he represents a financial advisor who was threatened by someone claiming to have family in the Mob. |
Investment Advisor
April 1, 2011
Ron Rhoades |
An Alternative to FINRA Oversight "I expect FINRA and its allies to continue to push to extend its jurisdiction to some or all investment advisors," says Investment Adviser Association Executive Director David Tittsworth. |
Registered Rep.
March 15, 2013
Megan Leonhardt |
A "Tougher" FINRA? FINRA has stepped up the number of cases and the value of fines they levied against advisors last year, but that doesn't neccessarily mean that the indstury's self-regulatory organization is getting any tougher. |
On Wall Street
November 1, 2010
Patrick Temple-West |
Playing The Pay Game Four former FINRA officials, who left the agency in 2008, each received between $2.74 million and $4.43 million in reportable compensation and benefits that year, according to the latest form that the nonprofit self-regulator filed with the IRS. |
On Wall Street
March 1, 2011
Lorie Konish |
All-Public Panels Approved For Arbitrations The move may be hailed by investor groups, but other industry experts are criticizing the Securities and Exchange Commission's recent approval of a rule change that allows for the option of all-public panels in FINRA arbitrations. |
Financial Planning
December 1, 2011
Bob Veres |
Regulatory Armaggedon The Republican leadership in Congress has proposed that the SEC authorize one or more self-regulatory organizations to take over regulation of RIAs. This has been coordinated with massive Wall Street lobbying. |
Financial Planning
March 1, 2010 |
What's Happening to Regulation? Whether we like it or not, we do live in a post-Madoff world, and it's impossible to separate his crimes from the dialogue surrounding regulatory reform. |
On Wall Street
August 1, 2009
Alan Foxman |
Whistleblowing Made Easy How to go about alerting authorities to violations in your firm, other legal questions are answered. |
On Wall Street
September 1, 2010
Alan J. Foxman |
Ponzi Schemes And Problems Paying Fines Q&A: What does it mean for advisors that records are now available to the general public online?... How will arbitration payments I must make but cannot afford right now affect my license?... more... |
Financial Planning
August 1, 2012
Mason Braswell et al. |
Hot Topics SEC Appoints New Head of Advisor Examination Program... Managers Turn Attention to Alternatives... Investing in Treasures: Profit or Pleasure?... Some Men Stressed by Spouse's Financial Decision-Making... etc. |
Investment Advisor
December 21, 2010
James J. Green |
FSI Endorses FINRA as SRO for Investment Advisors Dale Brown says FINRA option is "best way to address the regulatory gap." |
