Weekend Reading For Financial Planners (July 16-17)

Weekend Reading For Financial Planners (July 16-17)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that investors this year have filed 37 arbitration cases with FINRA related to alleged violations of Regulation Best Interest (Reg BI). These come on the heels of the SEC’s first enforcement action related to Reg BI, suggesting that industry participants might soon get more clarity on the regulation’s requirements and the consequences for not adhering to them… and that regardless of how slowly the SEC acts in enforcing Reg BI, the plaintiff’s bar is beginning to take the matter into their own hands by filing complaints against brokers who fail to act in their clients’ ‘Best Interests’.

Also in industry news this week:

  • Democratic Senators have proposed to extend the 3.8% Net Investment Income Tax to high-income-owners’ S corporation profits as part of broader legislation, but this measure appears to be on shaky ground
  • Why a recently announced SPAC merger could lead to additional opportunities for breakaway brokers to transition to the RIA model

From there, we have several articles on practice management:

  • How the use of a tiered fee structure or a retainer model can help insulate advisory firm revenue from the effects of a bear market
  • At a time when costs are up and revenues are down for many advisory firms, why simplifying the firm’s value proposition and pursuing operational efficiencies can help prevent margins from tightening further
  • Why bigger isn’t always better when it comes to the number of clients an advisor serves, and why pursuing a niche market can provide benefits to an advisor’s professional and personal lives

We also have a number of articles on advisor marketing:

  • A recent survey suggests that younger clients are more sensitive to advisory fees and are interested in hybrid solutions that combine human advice with digital tools
  • Wealthy millennials have a high degree of trust in advisors and are looking for them to be literate in assessing ESG data, according to a recent study
  • Why investors prefer advisor marketing that asks questions about prospects and avoids industry jargon

We wrap up with three final articles, all about leadership:

  • What advisory firm leaders can do to help their teams work smarter, not harder
  • Why ‘unblocking’ might be the most important task a manager can complete during their day
  • How taking a structured approach can help you become more like your role models

Enjoy the ‘light’ reading!

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