Deals & People October 18, 2010

Merrill Picks Fickinger as Head of Financial Advisor Strategy

Tom Fickinger was appointed head of Financial Advisor Strategy, a newly created role, at Merrill Lynch.   
Reported by

According to an internal memo, Fickinger’s responsibilities as head of Financial Advisor Strategy include:

  • Driving strategic initiatives around adviser and team practices
  • Leading the Practice Management Development program (PMD) and the Practice Management Consulting Group (PMCG)
  • Supervising the career development of new-hires to each group
  • Assess the impact of potential regulatory reform on the firm’s overall Financial Advisor Strategy and ensure any necessary changes are implemented

He will report to both John Hogarty, chief operating officer, Global Wealth & Investment Management, and Lyle LaMothe, head of U.S. Wealth Management.  He will also serve as a member of the USWM Executive Committee.

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Fickinger has been with Merrill Lynch for 24 years.  Currently, he is the managing director for the New Jersey Region, and he will remain in this role until a successor is found.  He also was first vice president, head of Business Development – Investor Strategies Group in New York City and head of Financial Planning in Princeton.

Products October 18, 2010

RIA in a Box Offering E&O Insurance

RIA in a Box, a registered investment adviser (RIA) consultancy firm, has partnered with Lloyds of London and the North American Professional Liability Insurance Agency (NAPLIA) to provide errors and omissions (E&O) insurance.   
Reported by

RIA in a Box is offering E&O insurance for a discounted price, only to its clients, with premiums starting at $1,250.  

Errors and omissions insurance is not required, although it is strongly recommended for all RIAs.

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RIA in a Box says many firms choose not to get the insurance for a few years once a practice is up and running, because of the costs involved.  However, everything the firm worked on before the insurance was purchased is not covered by a newly-purchased plan – which can be detrimental if something goes wrong.

“This insurance can really be very important if there is ever a problem which crops up, because without it an RIA could really be put out of business” said Tom Schrandt, Vice President, NAPLIA.   

 

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