Going Independent

Sponsored By: Schwab Institutional

• Auld Departs Berthel Fisher

  Jeffrey M. Auld resigns for personal reasons; CEO Thomas J. Berthel replaces him as president of the Iowa-based independent broker-dealer.

• Liability Quandary from New CFP Standards

  FSI warns that the new professional conduct standards are "onerous" and "impractical."

• LPL Expands Services for Independent Advisors

  Largest B-D swaps rigid system for more flexible offering.

• Bear Brokers in Limbo

  After seeing the Bear stock price plummet, brokers are demanding more cash in their recruitment deals.

• When Advisors Leave

  Clients need help deciding whether to follow an advisor to a new firm or to try a new advisor at the old firm.

• 4 Questions with Scott Spiker

  Scott Spiker is CEO of First Command, an RIA serving clients with an average income of $50,000. We spoke to him about catering to the mass affluent.

• Independent Advisors Capture More Millionaire Wallet Share

  Fidelity survey shows big jump in percentage of millionaire assets held by RIAs.

• NPH Posts Revenues of $160 Million in First Quarter

  Network of independent broker-dealer's saw year-over-year increases in sales and revenue.

• Joby Gruber Out at AIG

  Head of two broker-dealers resigns in continuing education flap.

• A New Reason for Brokers to Switch Firms

  WSJ.com: Turmoil in the auction-rate securities market may give unhappy financial advisers one more reason to consider moving to another brokerage firm.

• Schwab Accepting Nominations for IMPACT Awards

  Third annual awards honor leaders in technology, business management and client services.

• Discovery Expands Relationship with NAPFA

  Discovery to help NAPFA increase membership.

• Advisers, Activists and Others On the SEC's Simplicity Push

  WSJ.com: Excerpts from letters submitted to the Securities and Exchange Commission by investors, financial advisers, fund firms and others in support of and against the SEC proposal to adopt an easy-to-read mutual-fund summary prospectus.

• What We're Talking About When We Talk About Fees

  Clients feel they get their money's worth if they just understand the fees they are paying

• Bear Brokers Seek Safe Haven

  So far Morgan Stanley seems to be the main beneficiary.

• Treasury Proposal Would Combine Federal Bank, Thrift, Credit Union Charters

  Restructuring blueprint calls for short, medium, long term steps to modernize financial regulation.

• View the 2007 Exclusive Payout Grids

  A look at what firms are paying advisors.

• Treasury Plan Examined

  On Monday, Treasury Secretary Henry Paulson presented his proposal to update regulation of the U.S. financial system to Congress. Here is a selection of articles explaining the proposal and its probable impact.

• The War for Talent

  Brokerage firms are fighting for the top 2% of financial advisors. But can the industry afford to take this short-term strategy as the number of producers continues to dwindle?

• Almost 10% of Brokers and Advisors Considering Switching Firms in 2008

  According to Broker and Advisor Sentiment Index, many would prefer independent, regional or RIA firm.