Added on October 2015 in Form an RIA
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Summary: At TD Ameritrade Institutional's advocacy summit, several officials raised the concern that it will only take one major scandal to force the issue of expanding advisor exams. When that happens, policymakers aren't likely to adopt any framework that the industry could support, but could instead turn examination authority over FINRA, which some view as the least desirable outcome.
Added on October 2015 in Form an RIA
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Summary: Some financial advisers take as long as two years to negotiate and prepare for a job change. But their clients don’t usually have that much time to decide whether to stay put or follow, out of fear of a gap in which their portfolios won’t be closely monitored.
Added on October 2015 in Form an RIA
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Summary: The ‘popular’ view of the world of financial advisors these days is that we’re all in a collective race for size and economies of scale, because only the largest can survive and everyone else is doomed to a world of declining profit margins as the overhead costs of running an advisory firm grind their income down to nothing.
Added on October 2015 in Form an RIA
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Summary: When you’re running a small business—or even a big one—you’re always looking at efficiencies, and one practice that is the ultimate in creating efficiency is writing policies and procedures manuals.
Added on September 2015 in Form an RIA
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Summary: Back in 2000, when Todd Sanford launched his solo firm, Sanford Financial Services, he knew he wanted eventually turn it into a team-based practice. He studied everything he needed to know to build a team and now, with 14 employees, including himself and two other partners, he’s reached $600 million in assets.
