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Articles Published December 2009


Expect to hear more in 2010 from Mike Durbin, who leads Fidelity's fast-growing RIA custody unit

Percolating: RIA custody roundup for 2010
New faces, new programs, new technology and new assets

Thursday 12.31.09
People like to prove the powers of their Blackberry over holidays

10 reasons why working during this holiday week is a good idea for RIAs
The quantity of conversations may drop but the quality rises

Wednesday 12.30.09
Benjamin Valore-Caplan: It takes a lot of intellectual gymnastics to view a tax deduction for a charitable gift as a subsidy in the pejorative sense, but clearly there are some policy wonks who are quite flexible.

Advisors: Help protect precious nonprofits by avoiding these four mistakes
Why Warren Buffett is wrong about charitable giving

Wednesday 12.30.09
Brian Davis: Start-up RIA firms tend to focus their efforts on client acquisition.

New RIAs gather assets more zealously than veterans
Established RIAs also more likely to report a decline in client base than newbies

Monday 12.28.09
Marty Kurtz: If we make all the health decisions about money, it's pretty hollow

What RIAs need to know about health care reform
Ken Fisher offer his politically incorrect viewpoint as bill passes Senate

Thursday 12.24.09
Life in Maine: I am working next week and no news story of the first order will go uncovered.

We're winding down a bit over the holidays
Non-deadline projects will take precedence for 10 days

Thursday 12.24.09
Brooke Southall: I asked John, 50, why he didn’t hire a financial advisor and he said that the system was “crooked” and “corrupt.”

What I learned about E*TRADE, Bank of America, Google and the Bubble Lounge during pre-holiday conversations
Just because a wirehouse broker doesn't win the account doesn't mean that another advisor will

Tuesday 12.22.09
Andrew J. Fotopulos: If areas of exposure are not specifically mentioned in the policy, coverage may not apply

Why you may not be adequately covered against lawsuits
A careful review of exposure to liabilities could save your practice

Tuesday 12.22.09
Tom Bradley: The success of this program is the result of a powerful structure of goal-setting, follow-up and follow-through.

TD Ameritrade takes on Schwab with big consulting push
Smaller custodian will seek to democratize consulting advice on behalf of smaller advisors

Monday 12.21.09
Rob Isbitts: It's best to be bullish on the ability for markets to recover from anything, but bearish on the philosophy of always staying fully invested in stocks

It’s a rent-and-hold market for stocks
Pressure to make big gains is much less if losses are minimized

Monday 12.21.09
Brian Moynihan: We think of this not as changing the business model, but changing the way we do business

Merrill Lynch goes unmentioned as Bank of America settles on CEO choice
Krawcheck doesn't figure in, and press release neglects mention of big wirehouse

Friday 12.18.09
Mary Schapiro: When investors receive similar services from similar financial service providers, they should be subject to the same standard of conduct

'Unthinkable' progress was made on creating a new regulatory world for advisors in 2009
Change is in the air but upcoming Senate elections complicate prospects for 2010

Thursday 12.17.09
Jim Pratt-Heaney:[Making acquisitions] would be very difficult [to do] on our own.

RIAs join Focus Financial with their own acquisition plans
Making purchases is much less scary with a big roll-up at your side

Wednesday 12.16.09
SEC Commissioner Luis A. Aguilar: These rules are a "Madoff fix."

SEC details new "Madoff fix" custody rules
Advisor groups relieved: no surprise audits for RIAs with third-party custodians

Wednesday 12.16.09
Andy Hyer: Blogs help promote an advisor’s business without being pushy.

Blogging: The costs and risks of hoarding your thoughts are rising
It's a new way for financial advisors to stay relevant with clients

Wednesday 12.16.09
Paula Monopoli: Money equals power within a relationship and power asymmetry yields inequality.

Should men control retirement accounts? ERISA rules say yes
Professor says 401(k) system is biased against women

Tuesday 12.15.09
Ron Rhoades: Congress should replace the current mismash of  IRAs, SEP IRAs, SIMPLE IRAs, 401(k), 403(b), 457, etc. with four types of accounts

Experts open playbook on retirement plan reform
What's in the mix: eliminating loans from retirement funds, annual rollovers, self-directed Roth IRA

Tuesday 12.15.09
Paul Lally: Banks see this possibly as the opportunity of a lifetime to get into the wealth management business.

Banks are hungry to buy RIAs again
The same pressures for growth and non-interest income have them shopping, albeit more cautiously

Monday 12.14.09
Don Peters: From the standpoint of a fixed income investor who believes in using government bonds as a total return asset, a 50-year U.S. government bond would be to die for.

Why the U.S. should follow China in issuing 50-year bonds
In the next 50 years, rates will likely go much higher

Friday 12.11.09
Mark Tibergien: Nothing is forever. Advisors say they wouldn’t sell to such-and-such organization, but they do.

Deal bottleneck in M&A caused by buyers expecting fire sale prices, report says
Quantity of deals is down but quality may be up; 2010 looks brighter

Friday 12.11.09
Tom Giachetti: Brokers say: Tom, Do I need to repay that loan and the answer is ‘yes’.

11 steps to becoming an RIA without upsetting Merrill Lynch, the SEC or your clients
Concerns over regulatory challenges are way overblown

Thursday 12.10.09
Charles Goldman: Having four, five or six brands is confusing and expensive. People want to do business with Fidelity.

Fidelity is bidding its HybridOne brand farewell
The Boston broker makes the move as Pershing's competing hybrid offering wins raves

Wednesday 12.9.09
John Furey: Top advisors only engage professionals referred within their networks

Deal killers for almost-breakaway brokers
How to break the dam of 60,000 wirehouse employees

Wednesday 12.9.09
Mark Hoffman: An RIA is just like any small business, but with a slug of regulation.

What You May Have Missed: A broker leaves UBS and loops in executive talent for his RIA
Not satisfied to be a mom-and-pop, wirehouse breakaway hires Boston Consulting Group talent out of the gate

Tuesday 12.8.09
Knut Rostad: We see that brokers are ahead of the industry’s lobbies

Stockbrokers are ready to shed their sales culture, says SEI Investments study
The fiduciary standard has literally taken root over the course of six months, advocate says

Tuesday 12.8.09
Jim Warren: I promised Art [Tambaro] I would seek out reasons to stay as opposed to reasons for leaving

Why a Royal Alliance champion gave up the cause after AIG made changes
Jim Warren made personal pleas to Art Tambaro but a small IBD nabbed his RIA

Monday 12.7.09
RIABiz hardly ever waffles

First-ever RIABiz Summit
Partners flock to California to finalize plans for RIABiz Directory

Monday 12.7.09
Brian Hamburger: We would tell clients: Our corporate practice was no better or worse than any competing firm.

Hamburger acquisition bulks up firm's corporate practice
As RIAs grow more sophisticated, so does legal work to support them

Friday 12.4.09
David Brochu's company's lawsuit alleges that Focus Financial is buying transaction-based practices in the NFP mold

StrategicPoint sues Focus Financial for information
RIA claims its holding company is acting too much like National Financial Partners for comfort

Thursday 12.3.09
Parick O'Connell: Very simply, we realized that on the employee side that we were running a feeder system to the franchise business [of Ameriprise]

Ameriprise Financial clamps down on franchisees with new rules
New requirements and bigger fees instituted in November could put franchise ownership out of reach for many brokers

Wednesday 12.2.09
Advent Software's five-year non-compete clause was not long enough to suppress Matt Abar

The executive Advent bought and buried is back with a vengeance
Matt Abar's second act looks formidable, say beta clients and industry experts

Wednesday 12.2.09
Sean Walters: [Advisors] want to stay abreast without paying $6,000 to $7,000

Once a haven for fee-minded wirehouse brokers, IMCA is becoming a melting pot of advisory channels
IMCA conferences -- focusing on investment, wealth management -- are the sole reason that many new members join

Tuesday 12.1.09
James Damschroder: The sad truth about modern portfolio management is that the volatility and return relationship breaks down right when we need it.

Why diversification is still the go-to risk killer
The oldie is still the goodie when done properly

Tuesday 12.1.09
Ted Schwartz: It is a graphic depiction of non-correlation

[Updated] What RIAs found out about Gsphere
Clients are shocked to see how undiversified their portfolios actually are

Tuesday 12.1.09

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