Weekend Reading For Financial Planners (May 21-22)

Weekend Reading For Financial Planners (May 21-22)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a court ruling has called into question the Securities and Exchange Commission’s use of its own judges for adjudicating enforcement actions. The court order could pave the way for those advisers ever accused of violating SEC regulations to have the guaranteed right to a jury trial instead, ensuring they will get a chance to ‘have their day in court’ to prove their innocence.

Also in industry news this week:

  • While some observers thought new leadership at the SEC might pave the way for increased enforcement of Regulation Best Interest, the agency has yet to take any major enforcement actions, potentially leaving consumers still vulnerable to the problematic broker behaviors that Reg BI was meant to solve, and leaving other broker-dealers wondering how to implement the principles-based guidelines
  • A coalition of advocacy groups has asked the SEC to investigate RIAs’ use of mandatory arbitration clauses with clients, including a call to use regular examinations to gather data on the terms of these clauses and how they are used

From there, we have several articles on the current state of financial markets:

  • How advisors can put the current market downturn into historical context for their clients
  • Why seemingly everyone has a bearish outlook for financial markets, and why this could offer a glimmer of hope for market performance going forward
  • Why the market downturn could present an opportunity for advisors and their clients to take advantage of Roth conversions, as well as alternative strategies advisors could consider

We also have a number of articles on practice management:

  • How some firms are using equity ownership to attract and retain employees amid the tight labor market
  • Why asking job candidates about their open browser tabs could be a useful interview question
  • The most important criteria to consider when selecting a business partner and how best to nurture the relationship

We wrap up with three final articles, all about what it means to be ‘rich’:

  • While having more money can improve wellbeing for advisors and the broader public, a range of other factors might be even more important
  • A recent survey shows what net worth Americans think is required to be ‘wealthy’ or ‘financially comfortable’ and also suggests that values-based investing might be gaining momentum
  • How being ‘rich’ and being ‘wealthy’ are not necessarily the same thing, and how advisors can help clients achieve a life of financial freedom

Enjoy the ‘light’ reading!

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