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That Which Seems Intuitive Is Often Wrong

17:02 25 January in Articles Written by Jon Henschen by rafferty

February 2013
by Jonathan Henschen and featured in Investment Advisor

Experience shows that reality is often less obvious than your intuition would lead you to believe

One of my summertime readings was John Stossel’s book, “No They Can’t: Why Government Fails—But Individuals Succeed.” Stossel, a journalist, Fox cable network host and avid libertarian, delves into a multitude of examples of how we intuitively run to government to solve problems.

In Stossel’s book, he argues that we should abandon our beliefs that a government can cure all national ills and instead “retrain our brains to look at only the facts, to rethink our lives as independent individuals—and fast.”

As I read through Stossel’s take on some of our social issues and why our intuitions about them are wrong,

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A tough recruiting environment

20:55 23 January in In the News by rafferty

January 20, 2013
Andrew Osterland, Investment News

Advisers are staying put, so attracting new ones is proving to be a challenge

Buoyant capital markets and improving conditions in the brokerage industry have created a tough recruiting environment for independent broker-dealers. And given the generally positive outlook for the industry in 2013, it could remain difficult for firms hoping to grow by attracting new advisers.

According to Larry Papike, president of recruiting firm Cross-Search, more-stable brokerage firms and more-comfortable financial advisers are translating into less movement in the industry.

“Financial advisers are happier with their broker-dealers,” said Mr. Papike, who helps 75 different independent broker-dealers find new advisers. “We’re not seeing the willy-nilly movement we did in the past because advisers are a happier bunch right now.”

The lack of any large broker blowups recently also has reduced the number of advisers looking for new homes.

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FINRA to Mull Broker Compensation Disclosure Rule

16:43 30 November in In the News by rafferty

November 29, 2012,
by Melanie Waddell, AdvisorOne

Board will consider a number of potential rules and amendments at December meeting

The Financial Industry Regulatory Authority plans to consider at its Dec. 6 Board meeting several rule proposals and amendments, chief among them a proposal that would require broker-dealers to disclose to customers brokers’ compensation packages.

Securities lawyer Patrick Burns spoke out publicly in an October interview with AdvisorOne saying that he wants to change the status quo in broker compensation. “Our clients who are investment advisors would like to see the playing field leveled in terms of disclosures,” Burns told AdvisorOne at the time.

Burns, based in Beverly Hills, Calif., told AdvisorOne in that interview that unlike brokers, his RIA clients must disclose all forms of direct and indirect compensation and conflicts of interest,

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