Gorodenkoff | iStock | Getty Images Just in the past month, Scott Van Den Berg, president of Century Management Financial Advisors, has added cybersecurity to the firm’s insurance coverage. Now, in the event there is some kind of breach, the insurance company will help send a team to the office, have bitcoin accounts at the
Advisors
Ariel Skelley | DigitalVision | Getty Images What is a suitable investment for someone? What is in an investor’s best interest? What is the difference between a securities broker and a financial advisor? If you have no idea, you’re not alone. “There is still so much confusion with financial terms,” said Ashley Guerra, chief compliance
Hero Images | Hero Images | Getty Images The registered investment advisor industry may be the perfect playground for private equity investors. It has good growth, high profit margins, consistent cash flow and low capital needs. With roughly 13,000 firms in the industry, it is also highly fragmented, ripe for roll-up, and begging for consolidation.
Kenneth Fisher, founder of Fisher Investments. Jonathan Fickies | Bloomberg | Getty Images Individual investors at Fisher Investments transferred $20 million from the firm the week after the billionaire made lewd comments at a conference, according to a research note from Mercer, an advisor to institutional investors. The development was disclosed on a conference call
Jonnie Miles | Photographer’s Choice | Getty Images There may be no free lunch in the financial services industry, but there is now free trading of stocks, exchange-traded funds and options. Charles Schwab announced on Oct. 2 it would eliminate commissions on those products for retail and registered investment advisor clients on its platform. TD
Witthaya Prasongsin | Moment | Getty Images Irish author James Joyce wrote in his novel “Ulysses” that a genius makes no mistakes. “His errors are volitional and are the portals of discovery,” he wrote. Talk about hindsight being 20/20. Joyce’s spin aside, mistakes can indeed be learning experiences — and we all make them, especially
Thomas Barwick | Getty Images Financial advisors and wealth managers counsel others on money matters. Doling out financial advice is their bread and butter. And like doctors who turn to other physicians when they’ve got their own aches and ailments, financial advisors often rely on others’ opinions when planning their own finances. And, in some
kupicoo | E+ | Getty Images The aging army of independent registered investment advisors who have spearheaded the growth of the financial planning profession need to follow their own advice when it comes to their businesses — for their clients’ sake, as well as their own. With the average age of financial advisors somewhere in
The Los Angeles Fire and Police Pension System voted on Thursday to fire Fisher Investments, pulling about $522 million from the money manager. The nine-member board of commissioners voted in favor of terminating the relationship with the Camas, Washington-based firm, following lewd comments Ken Fisher had made at an investment conference on Oct. 8. The
Guido Mieth | DigitalVision | Getty Images Raymond James‘ independent registered investment advisors have reason to cheer. The firm announced on Monday that it is eliminating transaction fees for stocks, exchange-traded funds and options in a division serving those professionals. The move was announced on Monday at a conference in Bonita Springs, Florida, for the
Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Gillianne Tedder | Bloomberg | Getty Images It remains to be seen how long other clients will stick with billionaire money manager Ken Fisher in the wake of off-color and sexist comments
Couple getting financial advice Getty Images Financial advisors are experts at helping clients plan for their futures. It turns out that many of these professionals often fall short when it comes to their own businesses. That’s according to a study from the Financial Planning Association, a professional membership organization, and SEI, a provider of wealth
Petri Artturi Asikainen | Getty Images Financial advisors do their best to counsel clients on sound approaches to financial decision making, yet no good wealth manager would claim to have a crystal ball. The only certainty is that no one can predict the future or time the market. Any advisor worth his or her salt
Sam Edwards | OJO Images | Getty Images It’s evident that the financial advice business has evolved over the years. The industry continues to mature, and financial advisors are always finding ways to address and meet the demands of today’s investors. In fact, given the increased complexity of everyone’s financial lives, investors are eager to
Oliver Furrer | Cultura | Getty Images You don’t have to be a hedge fund guru to discuss alternative investments with your clients, yet it doesn’t hurt to get educated. It’s no secret that portfolio diversification protects investors from the whims of the stock market, blunting the volatility you get in equities by including an
JohnnyGreig | E+ | Getty Images While a gym workout can be a lot of fun, the cliche “no pain, no gain” is also true. The same goes with finances. Savers and investors who want secure financial futures tomorrow often have to face painful financial facts today — and it can fall to financial advisors
Damir Khabirov | iStock | Getty Images “He who makes no mistakes makes nothing.” Talk about a silver lining, especially when applied to finance. This 200-year-old quote, attributed to Casanova, gives hope to all those ruing a grave error or missed opportunity. And it’s true: We learn what not to do going forward when we
Maskot | Maskot | Getty Images It’s an email every financial advisor should expect to receive at least once. Financial advisor Charles Failla recalls receiving an email from a client asking for about $5,000. She was vacationing in the Caribbean and claimed the hotel where she was staying didn’t accept credit cards. “She needed cash,”
If some financial advisors seem to know clients’ needs before they do, there’s a good chance software is part of the reason. Financial technology — or fintech, for short — has increased competition in the advice business via automated online platforms. Yet at the same time, advisors have found that those digital advances have bolstered
Morgan Stanley signage on the door of their headquarters building in New York. Scott Mlyn | CNBC Morgan Stanley is offering a new tool to help financial advisors and their clients measure sustainable investing choices and how they perform in their portfolios. The analytics and reporting application, called Morgan Stanley Impact Quotient, was announced on