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The wirehouses aren't fading yet, but many independents argue that these firms will need to change dramatically to retain market share.
With regulators proposing more widespread obligations, advisors need to know where to get training.
Independent financial advisors list the advantages they have found tailoring fee structures to their and their clients' liking.
Advisors who defect from wirehouses notice almost immediately the benefits of no longer facing constraints set by a large employer's compliance officers. But the newly independent advisors must ensure that they stay within the boundaries of regulatory requirements and that compliance never becomes too time-consuming.
Some breakaway advisors duplicate some of the rah-rah found at their former employers, others relish the newfound informality, but either way, they get to set the tone.
Complacency is the latest threat facing federal employees.
Women working outside male-dominated wirehouses tout the advantages of independence.
Advisors choosing independence do well as a pack.
Surviving spouses will require hands-on help from their advisors to get important tasks done -- before and after a loved one's death.
Regulators will be paying close attention to whether advisors properly safeguard the interests of elderly clients. Here's what to watch for.
Advisors have an opportunity to play a pivotal role if they help clients crunch realistic numbers about their future financial obligations for elderly parents.
Signs of potential cognitive decline among elderly clients warrant immediate and concrete action from advisors.
Advisors can help clients find and deploy technological innovations that drop home care costs, but expect some resistance to your suggestions.
The consulting firms that help advisors and exceedingly affluent clients find each other rarely broadcast how to use their services, so advisors should expect a time commitment to discover the best pathways.
With tax rates higher, advisors need to be thinking of ways to reduce the tax bill when clients need to sell large amounts of stock.
How a planner can put himself at the head of an estate planning team and keep both the client and the other professionals happy.
Advisors may need to revise their notions about private equity helping wealthy clients achieve portfolio diversity.
One firm offers individuals who lack LTC policies, but still have life insurance, an alternative method to pay for care.
The sale of a business or the receipt of a vast inheritance can leave the beneficiaries struggling to cope with their dramatic change in wealth.
Advisors need to better understand the priorities of wealthy matriarchs and patriarchs when helping them decide how to make gifts to adult children.