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Content tagged "NAPFA"


National Association of Personal Finance Advisors

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Christopher Van Slyke: From day one (in 2007), when we merged, he told me he was going to go sailing.

Scott Leonard's 2-1/2-year boat odyssey around the world is followed by split with his partner
Christopher Van Slyke realized Trovena was presented with fast-arising opportunities he couldn't pursue with Leonard at sea

Friday 11.22.13
Ron Rhoades: Shouldn't the phrase: 'member, FINRA' be viewed like the warnings on cigarette packages -- i.e., as a consumer warning sign?

FINRA's scandalous litany of failures and its efforts to redefine the true fiduciary standard out of existence
Our one-man think tank continues his scathing indictment of the SRO's disingenuous and downright fraudulent practices

Wednesday 7.17.13
Jack Waymire: It is hard for me to believe a CPA/PFS with 10 years' planning experience is any less qualified compared with a CFP with the same amount of experience.

Opinion: Why NAPFA's CFP-only approach is a slap in the face of many financial advisors
In the alphabet soup of designations for advisors are many legitimate practitioners whom the association's new policy will shut out

Friday 12.21.12
Kevin Keller: We are business-model- and compensation-neutral, but all CFP professionals are required to put client interests ahead of their own.

The once underrespected CFP gets a lift after Merrill Lynch and now NAPFA make it central for newbies
Still, CFP certificants shoot down the idea of making the CEO credits requirements even harder, and fiduciary concerns linger

Wednesday 12.5.12
Ellen Turf: I do feel like I've done everything I could do.

NAPFA's Ellen Turf hands in her resignation -- in part on the advice of her financial planner
On the heels of the l'affaire Rhoades the nonprofit mounts a search to replace its longtime leader when she steps down next year

Monday 11.12.12
Lauren Locker: I'm very, very busy.

Little-known understudy steps into NAPFA star role as Ron Rhoades bows out
Some are still pining for Ron, but Lauren Locker is confident she'll be able to win over her audience

Thursday 9.6.12
Ron Rhoades: I’ve put a big target on my back.

Before taking a self-imposed vow of silence, Ron Rhoades sounds off on the RIA industry and tells what's it's like to hit a professional wall
The outspoken NAPFA chairman-who-wasn't covers why the Bachus bill will rise again, the true fix for RIA exams and why the term 'fee-based' is inherently 'fraudulent'

Monday 8.27.12
Ron Rhoades: I'm looking forward to a full night's sleep tonight.

State of Florida gives low sanction to Ron Rhoades
Mitigating factors are cited by the Division of Securities and the resigning NAPFA chair expresses appreciation

Thursday 8.23.12
Ron Rhoades: I can assure you that I am doing fine.

Ron Rhoades: Staying on at NAPFA would have given ammunition to RIA industry foes
Shocked industry advocates are conflicted as to whether Rhoades should have stayed the course; in another industry shakeup, FPA's Marvin W. Tuttle announces he will step down

Tuesday 8.21.12
Rep. Spencer Bachus fired off a WSJ Op-Ed pushing for his bill two weeks after he had tabled it -- leaving advisors gobsmacked.

Amazed and confused: Advisors struggle to make sense of Bachus' Wall Street Journal Op-Ed salvo
House panel chief dives back into the oversight fray, but confusion persists over timing, intentions

Tuesday 8.7.12
Charles Goldman: We've barely scratched the surface of our networks.

Advizent hits $100-billion asset target in a matter of weeks triggering hires
The RIA grand brand and co-op gains momentum as Charles Goldman goes all-in

Monday 6.4.12
Ron Rhoades: "Suitability" is a failed doctrine. FINRA itself is a colossal failure, by any measure.

An in-depth analysis of FINRA's attempted takeover of RIAs and why the group should be disbanded, Part 2
FINRA's aim is to stamp out small RIAs that compete with its large Wall Street firms. Don't let it happen, pleads NAPFA's new chairman

Thursday 5.31.12
Ron Rhoades: FINRA was already an expert at protecting its large Wall Street firms from competition.

Why FINRA's power grab for RIAs needs to be stopped to avert the death of the profession, Part 1
Looking back from the year 2025, the author recounts how FINRA seized regulatory control and crushed the life out the once-thriving RIA channel

Wednesday 5.30.12
Duane Thompson: It’d be a compromise, even though that doesn’t seem to be a fashionable word right now.

Duane Thompson says Bachus bill will croak in Congress but others see danger aplenty
The FPA veteran who spearheaded the killing of the 'Merrill Lynch Rule' outlines his vision of compromise on the SRO issue

Tuesday 5.29.12
Ron Rhoades: You're going to see a much more active NAPFA.

NAPFA's appointment of a new chairman could be a big deal for RIAs
Ron Rhoades spent the last year in obscurity but now he's "ready to take the gloves off"

Wednesday 5.23.12
Andy Hill: For Coach Wooden, one of the best basketball coaches of all time, the great key to learning was asking questions.

A John Wooden disciple makes 13 points to RIAs at NAPFA about how to excel
Andy Hill started with the premise that advisors, like most people, are good, not great, at what they do

Monday 5.21.12
Elliot Weissbluth: A few years ago we had this meeting with just 20 of us in our old headquarters in the basement eating deli sandwiches.

What happened when HighTower assembled its RIAs at Trump Tower
300 aggregated folks dined lavishly and heard Ed Viesturs; and those perks may have a deeper purpose

Tuesday 5.15.12
Karen Nystrom: This proposed bill is a big deal to advisors...We hold out hope that our message will be heard.

Avoiding FINRA oversight may depend on talking sense to an options-trading House Republican
Spencer Bachus, known to expertly trade options for his own account, seems to be down with what transactions-based advisors like

Thursday 4.26.12
Susan John: If no one is willing to advise the consumer of the $25K IRA, that’s a problem.

NAPFA's John responds to critic questioning her group's stance on compensation in light of new DOL rules
The national chair says the first objective is not to scare small investors away

Tuesday 4.3.12
Philip Chao: The fiduciary standard should not be reserved for the affluent America.

Why it's not OK that NAPFA and FPA agree with FSI about relaxed accountability for holders of IRAs
There is no 'suitability' America and 'fiduciary' America

Monday 4.2.12
Larry Steinberg: The simple fact is that there is no way to even break even on a $200 per month (contribution) RIA account.

Two advisors debate the financial viability of serving as a fiduciary to small accounts amid DOL's new rules
Larry Steinberg expresses big doubts but Jeff McClure sees advisors wedging in like Ace Hardware amid Home Depot and Lowe's

Friday 3.30.12
Susan John: It appears we may be on the same page for once. This is just one of those odd circumstances.

As DOL contemplates stiff fiduciary-related penalties on advisors, NAPFA and FPA find rare concord with FSI
The more RIA-focused groups agree with the IBD trade group that holders of smaller IRA accounts will not be able to pay for advice under new rules

Thursday 3.22.12
Brian Hamburger: I think that number [from BCG] is a very conservative and kind number.

FINRA attacks Boston Consulting Group over SRO study
BCG sticks to its guns saying that the double-dip cost of SEC oversight makes any FINRA numbers moot

Friday 12.16.11
Stan Ehrlich: Why does Schwab want to franchise its brand and potentially put itself in conflict with some of its own RIAs, such as me and many of my peers in NAPFA?

Are Schwab’s independent branches an opportunity or a threat to RIAs?
For RIAs with financially profitable practices that meet their lifestyle needs, I think owning a franchise would take them back a few steps.

Friday 12.9.11
Mike Byrnes: Another way to grow more quickly is to bring on staff, even if it is at an hourly rate.

NAPFA conference yields valuable nuggets of practice-management and marketing advice
A strategic embrace of sales can build your practice dramatically, was the message NAPFA's practice-management conference held in Brooklyn

Tuesday 11.22.11
Brooke Southall: The RIA business needs to be alert to the danger of becoming something uncomfortably similar to the world of banks, brokerages and trust companies that it is trying to reinvent.

Nine threats to the RIA business and how they can be avoided
The fragmented 13,000-firm army is poised for great things but too much focus on expediency could bring its own problems

Monday 11.14.11
Michael Joyce: You could write several articles about the go-to-the-mat battles I've had with trust companies.

Michael Joyce buys a stake in National Advisors Trust after taking a pass 10 years ago
Deal nets access to cheap trust services, a capital investment, the possibility of a dividend and a close-knit group of RIAs

Thursday 8.4.11
Deb Wetherby: Form a girls’ group.  Attitude matters – find and hang out with women who inspired you.

Eavesdropping on the NAPFA's pre-conference Women's Initiative
A daylong 'conversation café' emphasized communication, leadership and personal presentation; some guys crashed the party

Thursday 5.26.11
Brent Burns: Advisors who take on a fiduciary role have a lot of branding work to do.

NAPFA conference hits hopeful note as members look to the future
Unfazed by venue change, advisors mixed, mingled, blogged and tweeted their way through the three-day meeting

Wednesday 5.25.11
Existing sites that list advisors aren't comprehensive, says Mike Alfred. "The average consumer won’t be able to go on line and find the person who took them to lunch that day.”

BrightScope's huge advisor database is first search-engine friendly way to connect consumers, advisors
Advisors can pay to add information, but disciplinary actions will show up

Thursday 4.28.11
Karin Maloney Stifler: Talking about money really is our last taboo subject.

What one advisor's letter to her son reveals about Americans' attitudes toward money
The financial crisis may have opened the door to money-talk -- and raises questions about advisors' responsibilities

Friday 2.25.11
Brian Hamburger: The SEC is lining up the facts so that later the conclusion becomes obvious (it can’t regulate advisors with current resources). ... It’s genius, what they’re looking to do, but it’s incredibly transparent.

The RIABiz list of winners and losers in the wake of the SEC's fiduciary study
The race is on as laggards adapt to new vision of the future

Friday 1.28.11
Mary Schapiro:A fiduciary owes its customers and clients more than mere honesty and good faith alone.

How 10 top groups define 'fiduciary'
Obama administration, SEC, FINRA, FPA, fi360, U.S. Supreme Court and SIFMA raise fiduciary bar to different heights

Friday 1.21.11
Paul Auslander: As an umbrella for members with many business models, the FPA is in a strong position in an environment in which the different models are merging. “The targeted groups are the ones at peril, not us.”

As state regulatory, tax battles loom, FPA is establishing statewide organizations to counter threat
New president-elect sees a big change among broker-dealers on fiduciary issue: 'Sometimes I walk out thinking I've been in a Kumbaya situation'

Wednesday 11.10.10
Marv Tuttle: Some of our members haven't liked our positions.

The industry's largest association has plenty at stake at its annual conference this weekend
After a trying two years in which it lost a chunk of its membership and angered others with unpopular stands, FPA is reminding advisors of its benefits

Wednesday 10.6.10
Summer's last gasp: Advocates for advisors and broker-dealers were putting in long days to prepare comments on the fiduciary standard to send to the SEC's Mary Schapiro and the other commissioners.

Old foes in the fiduciary debate join new battle to sway SEC's six-month study
Advocates were working down to the wire to submit comments by the end of yesterday

Tuesday 8.31.10
Elizabeth MacBride on how a small group of advocates for advisors and the fiduciary standard influence the debate this year in Washington, D.C.

What went right: the story of the fiduciary standard this year
A long-odds fight by advocates and a well-timed Goldman Sachs stumble and -- voilà -- brokers may have to begin putting customers' interests first

Monday 6.28.10
Ron Rhoades: Fiduciary organizations benefit from the media's growing attention to the fiduciary issue.

One-Man Think Tank: Being a fiduciary is suddenly in style, even as lawmakers dance around the issue
The conference committee puts off action for another day, but Ron Rhoades points out that the private sector is finding its own solutions

Thursday 6.24.10
Diahann Lassus: Model of regulation should help consumers

NAPFA faces test if 'fiduciary' status becomes norm
Amid brewing storm, there's an eerie calm at conference

Thursday 8.27.09

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