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| Inclusion, Diversity and the Noble Purpose of Advisers |
| The principal of financial adviser inclusion and diversity at Edward Jones reflects on her job leading the advisory company’s revamped diversity efforts—informed by her own first career as an adviser in the field.
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| Adviser Choices on Participant-Level Fiduciary Recommendations |
| Plan sponsors do not need to offer, or facilitate offering, investment advice to participants if they are afraid to, based on fiduciary concerns. “But some sponsors really want to make sure they do everything they can for their participants—and that’s both a blessing and a curse for those sponsors,” says Jason Rothman, managing consultant at consulting firm Findley Davies in Cleveland.
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| Home Offices Must Get More Active In Staff Succession Plans |
| LIMRA data also shows that a little more than one-quarter of financial professionals are age 55 and older. “For many of these individuals considering retiring or taking a less active role in their business, their clients expect a seamless transition from one financial professional to the other,” LIMRA researchers note. “In fact, 99% of clients believe the financial professional they work with has a succession plan in place. In reality, only half of financial professionals report that they are prepared for a transition.”
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| Top Adviser Teams Practice True Collaboration |
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More than 60% of advisers say they work within a team structure, yet only one-third of teams regularly collaborate in their daily decisions and processes.
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| Cybersecurity Must Be C-Suite Concern at RIAs, Brokers and Managers |
| In conversation with PLANADVISER, cybersecurity attorney and former SEC staffer Marlon Paz suggests it is absolutely essential for advisory firms to have a senior executive “not just appointed but also empowered” as the chief information security risk officer.
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| Many Asset Managers, B/Ds Don’t Trust Compliance Programs |
| “Because compliance has become so important to protecting the franchise, firms need to bring in third-party experts in the same way they have traditionally retained outside lawyers and auditors. One bad exam and penalty could do irreversible damage to the reputations these managers have built,” says Todd Cipperman, founding principal of CCS.
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