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Author: rafferty

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The Financial Advisor Balancing Act

16:51 02 March in Articles Written by Jon Henschen by rafferty

March 2012
by Jonathan Henschen and featured in Investment Advisor

Will your life legacy read like a resume or a storybook rich in relationships?

American culture exalts accomplishment and makes it a focal point for self-worth. Our industry is no different. In our recruiting interviews, reps list off accomplishments in terms of advanced college degrees, professional designations and the all-important production level. While all these achievements are admirable (who doesn’t want to build a lucrative book?), is it the legacy you want to leave?

Building Personal Legacies

Many of us grew up in families where accomplishment held much higher value than relationships, and we struggled to find role models for strong interpersonal skills. My father was a partner in the accounting firm Price Waterhouse for 15 years and later vice president of Bethlehem Steel.

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FINRA to Restructure BrokerCheck, Giving Investors More Power

16:42 02 March in In the News by rafferty

March 2, 2012
by Melanie Waddell and featured in AdvisorOne

 

Proposed changes include not only unifying BrokerCheck and the SEC’s IAPD system, but also divulging broker/advisor test scores

Brokers and advisors take note: the Financial Industry Regulatory Authority (FINRA) plans to revamp BrokerCheck to not only make it easier for investors to track down information about their broker—including “unifying” the search capabilities for BrokerCheck and the SEC’s Investment Adviser Public Disclosure database—but to also expand the types of information investors can get about their broker.

Until recently, FINRA noted that BrokerCheck was the only regulator that provided a comprehensive, online tool that enabled investors to check the backgrounds of financial service industry professionals. In 2010, the SEC expanded the IAPD database—which had previously only included information on investment advisor firms—to include information on investment advisor representatives.

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The Big Shrink: Independent Broker Dealer Report Card 2012

19:59 14 February in In the News by rafferty

February 1, 2012
by Diana Britton and featured in Registered Rep

In our second IBD Report Card, we examine the grades advisors gave their firms, and offer a look at one major trend that will shape the indie landscape in the next few years: consolidation.

Despite a tough market environment and a squeeze on profit margins, plenty of IBDs large and small are doing an excellent job of keeping their financial advisors happy, Registered Rep.‘s 2012 Independent Broker/Dealer Report Card shows. Just look at the grades the firms at the top took home. (See page 42, “The Grades are In.”) But analysts and executives predict the landscape is going to change dramatically in the next three years as the buying and selling of firms accelerates.

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