Financial advisers are increasingly adopting tools to help them access client information on their mobile devices. Custodial and investment-management firms large and small are offering technological tools to boost operational efficiency and help advisers on the road.
The Securities and Exchange Commission is raising concerns about protection for investors in collective investment trusts. The pooled-asset accounts aren't regulated by the SEC, but the agency is looking for ways to ensure their safety, said Andrew Donohue, director of the SEC's Division of Investment Management. In a New York address, Donohue also said the agency is likely to propose modifications to 12(b)-1 fees this year.
Questions remain surrounding the fate of a number of tax breaks even though the House and Senate have passed legislation to extend them, which is making it difficult for financial advisers to dispense investment guidance. "You almost have to ask someone's political views to give them advice," said FPA's Phillips Hinch. "[Advisers] prefer to stick to the numbers and not go down that path if they don't have to."
Advisor Solutions President Daniel Finley offers fellow financial planners tips on how to stay motivated and expand their businesses. He recommends the G.R.O.W. model, which emphasizes goal setting and problem solving.