How advisors can help younger clients get on a sustainable spending and savings path.
How individuals can balance the desire to spend on small luxuries today with the need to save for the future.A recent report has found that 72% of new advisors drop out of the industry, creating an incentive for firms to invest in their recruiting, onboarding, and training practices to be able to grow their headcount amidst a wave of expected advisor retirements in the coming yearsįrom there, we have several articles on cash flow and spending:.Concerned about the (insufficient) frequency of its examinations of RIAs, an SEC committee has recommended that the regulator allow third parties to conduct these examinations and to request Congressional authorization to charge investment advisers under its purview a ‘user fee’ that would provide steady funding to the SEC’s examinations division.The change has led to strong pushback from some of the organization’s own members, who argue that allowing any level of commissions is a step away from NAPFA’s “fee-ONLY” roots, and will dilute the organization’s brand as being the home of fee-only advisors when they’re not purely fee-only anymore… while others suggest that the policy simply recognizes the practical challenges that previously commission-based advisors face when making the transition to fee-only models (including that sometimes it’s virtually impossible to get insurance companies to stop paying trails on old policies!). Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that NAPFA has announced that it will no longer exclude advisors who receive up to $2,500 in annual trailing commissions from previous product sales, if they agree to donate that money to a non-profit organization and are otherwise fully dedicated to fee-only principles with their clients going forward.
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