Managing Risk in Your Client Relationships

Posted by Matt Nakamura

July 31, 2019 at 1:30 PM

As a financial advisor, the ability to identify potential risks to your firm is critical. Some risks, like client complaints and regulatory reviews, are inherent in the financial services industry. And when it comes to client relationship management, you’ll find risks you can control, as well as those you can’t.

Fortunately, there are a few simple steps you can take to be more successful in managing risk in your client relationships:

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Topics: Compliance

Should You Hire a Chief Compliance Officer?

Posted by Angela Sarver

April 30, 2019 at 10:00 AM

Compliance is a critical function for financial advisory firms, and its importance will only increase as industry regulations become more complex. Ultimately, responsibility for compliance oversight rests with you. But given the growing demands you face, would it make sense to hire a chief compliance officer (CCO)?

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Topics: Practice Management, Compliance

The Business Continuity Plan—Are You Ready?

Posted by Keith Crowley

November 7, 2018 at 1:30 PM

On January 13, 2018, at 8:07 A.M., residents and visitors in Hawaii picked up their beeping and vibrating cell phones to an ominous text message: a ballistic missile was heading right for them and they should seek immediate shelter. It would be 38 minutes before emergency personnel notified island inhabitants that the alert was sent in error.

The Hawaii Emergency Management Agency identified numerous breakdowns that cultivated the environment in which a wayward alert could occur. Because of a poorly drawn-up business continuity plan, there was no “false alert” code that could be sent in the case of an erroneous message. Agency administrators never prepared for such a situation.

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Topics: Compliance

5 Compliance Tips for Anticipating Shifting Investor Needs

Posted by Andrew Phillips

May 8, 2018 at 10:00 AM

Over the next three decades, trillions of dollars are poised to transfer from baby boomers to their millennial heirs. And in just the next few years, according to Roubini ThoughtLab’s Wealth and Asset Management 2021 study, the U.S. is expected to enjoy an increase of nearly $45 trillion in wealth. In order for advisors to capitalize on this opportunity, they will need to adapt their businesses to remain in compliance with applicable regulations. The compliance tips included here can help you anticipate and accommodate shifting investor needs to support Generation X and millennial clients and stay up to date on important regulatory changes.

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Topics: Compliance

Creating a Firm Culture That Puts Your Clients First

Posted by Heather Doherty

November 1, 2017 at 1:30 PM

When you and your clients make the mutual decision to engage in a relationship, it generally starts with a shared vision and some level of trust. From there, in order to continually build the relationship, you must go about creating a firm culture that puts your clients first. But what exactly does that entail?

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Topics: Compliance

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