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Summary: Business continuity and disaster planning has been a focus of the Securities and Exchange Commission in its examinations of Registered Investment Advisors in recent years, following the impact of disasters such as Hurricane Sandy on advisors in the affected region, as well as increased concern over cybersecurity risks.
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Summary: Because a founder’s attachment to their practice has an emotional component, it’s possible they will want stay past when they said they would retire, according to the Journal. That’s why it’s important to lay out in writing an actual timeline for their departure, Vanessa Oligino, director of business performance solutions at TD Ameritrade Institutional, tells the paper.
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Summary: Many writers, including me, have discussed the ways the U.S. will be affected by people living longer lives. The big question for the developed economies is how these changing demographics will affect their social safety nets and reduce productivity when there are many more older people. But how will the changes affect the RIA business? I rarely hear this question. Yet demographics will affect the ways RIAs offer service and the tools they use.
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Summary: The ability to communicate and perform financial transactions over the internet has provided convenience and time management for many people. However, with more and more transactions conducted over the web, the federal trade commission reports that about 9.9 million people are victims of identity theft each year.
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Summary: Twenty percent of advisors will likely exit the business voluntarily or involuntarily over the next five years; yet two-thirds of firms don’t have business continuity or succession plans, said Pershing CEO Mark Tibergien, speaking during a session at the Financial Planning Association’s annual conference in Baltimore this week.
