For years, reps have been told that separately managed accounts (SMAs), were being The institutional-quality management, tax efficiency, transparency and customization that had made SMAs so popular among high-net-worth individuals would be...
For advisors looking to expand a practice quickly, purchasing a book of clients was once the most expedient solution. Robert Enright learned the hard way that it isn't necessarily so anymore. Enright, of the Burton/Enright Group in Walnut Creek...
As one A.G. Edwards financial advisor sees it, regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds. Right now, B shares are the baddest guys on the Street, the...
The brokerage business is good or better, at least. The market is climbing slowly, firms are showing a profit and hiring again (albeit after massive layoffs), and, according to industry studies, affluent investors are in search of advice. The bad...
Scott Maclise is a mutual fund wholesaler's dream. Maclise, of LPL Financial in San Rafael, Calif., writes $4 million worth of fund sales each year. Eager to curry favor, fund wholesalers have offered Maclise sun-drenched getaways and rounds of...
Linsco/Private Ledger (LPL Financial Services), an stalwart independent broker-dealer, has been advised by the National Association of Securities Dealers and the Securities and Exchange Commission that enforcement actions are pending as a...
We've all seen the ads. Broker/dealers promising massive payouts in large, bold-print type: 90 percent! 95 percent! Even 100 percent! It's understandable if advisors especially those fleeing wirehouses over pay issues are dazzled by the numbers...
There is nothing like a bear market to spook clients. Disciplined, patient investors, who used to know the value of putting money in different sectors and asset classes, have grown overcautious. After witnessing so many high-flying stock funds...