From the Corner Office

Be A Better – And More Competitive – Advisor

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Many financial planners pride themselves on the close relationships they maintain with clients and the unique financial plan they provide each one based on their very individual circumstances. We certainly do at Pinnacle. When it comes to investment management, however, many advisors offer only one investment strategy. They may offer multiple risk models to reflect the ability of clients to …

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Failure To Adopt Continuity & Succession Plans May Lead to Stiff Penalties

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At its recent LINC Conference, TD Ameritrade held a panel discussion, Washington Flyover: Policy Coming Your Way, moderated by Skip Schweiss, TD Ameritrade’s managing director for advisor advocacy and industry affairs. Schweiss highlighted in his comments “While surveys suggest most advisors are aware of the coming (business continuity) rule, less known is the fact that the SEC will charge a …

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Time Is Our Most Precious Resource

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At its core, the wealth management business is a relationship business. Finding, building and maintaining relationships takes time. But the one resource universally in short supply is time. Putting aside for a moment technical proficiency and interpersonal skills, time may be the single most important resource needed to succeed in the wealth management business. And the efficient allocation of that …

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Tracking The Latest Regulatory Changes for Continuity and Succession Plans

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When talking with advisors and trying to keep them up to speed on the latest regulatory changes it’s become difficult for me to keep track of the changes at both the state and federal level. I got to thinking that it would be great if there was one place with all the information. So, we decided to make a dedicated …

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SEC Proposed Rule on Business Continuity and Transition Plans Explained

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We are pleased to have AdvisorAssist – an industry leading compliance consulting firm for RIAs contribute to From the Corner Office to help us better understand the SEC proposed rule that would require RIAs to adopt written business continuity plans.  Michael D. Conlon, JD is Vice President Advisor Compliance / General Counsel and Brendan Furey is Senior Compliance Consultant & …

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Shared Decision Making

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In his bestselling book Being Mortal, author Dr. Atul Gawande describes two models of how physicians have traditionally chosen to relate to patients. The first is a more paternalistic approach where the medical authority, who of course is seeking what is best for the patient, simply tells them what to do.  “’Take the red pill.  It will be good for …

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What Is Your Practice Really Worth?

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About once a week when I’m reading my daily dose of trade press I come across another giant aggregator acquiring some multi-hundred million dollar RIA. I usually read these articles because I’m always interested to hear the terms of these deals. One problem I find, however, is that the deal terms are often non-specific. Another problem I find is that …

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New Jersey Is First to Adopt Model Rule

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Just this past week I was talking with handful of advisors in New Jersey who informed me that the New Jersey Bureau of Securities has officially adopted the NASAA model rule requiring RIAs to have a formal continuity plan in place in the event of death or disability of a key individual, principal or owner. In April, 2015 the North …

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Don’t Let Perfect Get In the Way of Good Enough

I was reading a note from Carl Richards today, [his cartoons are really great, aren’t they?*] He made the following comments: As soon as somebody depends on you financially, you need life insurance. Most of us know this, but for some pretty good reasons, we don’t really want to think about it. To start, someone has to die for life …

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Navigating Portfolios Through A Difficult Investment Climate

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Tactical managers must maintain a big picture view, and then find ways to invest with that perspective over a multiyear time frame. One of the most challenging aspects of this task relates to the dizzying array of analysis and opinions we digest each day, particularly in a world where updates of all sorts are monitored on a cell phone within …

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