Advisor Business

Pew Survey Finds Most Think The Rich Are Smarter And Work Harder But Neither Of Those Attributes Makes Them More Likeable

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A Pew Research Center survey found that most people think the wealthy are smarter and work harder than average people. This doesn’t mean that they are well liked.   In fact, most people also think the wealthy are greedy and don’t pay enough in taxes. One-third of those surveyed say wealthy people are dishonest.

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Survey: Do You Make Money By Writing Financial Plans?

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Financial advisors have long complained about the difficulty of making money on writing financial plans. But is it really problem? Here's a short survey aimed at helping find out. In June 2011, I write a post saying that the CFP business model needs help and that planners have a difficult time making money on writing financial plans. The story has received more than 23,000 hits and for months was one of the most popular posts trending on A4A. That post argued that the CFP Board should provide continuing education (CE) credit for practice management to help planners address this busi

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CFP Board Falls Short Even Though It Proposes Boosting Continuing Education Requirement From 30 To 40 Hours And Would Give CE Credit On Practice Management Topics

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The CFP Board of Standards is requesting comment on proposed revisions to its continuing education requirement for CFP certification renewal. To its credit, the CFP Board is proposing several changes that are in the interest of consumers, who it serves. But it does not go nearly far enough.

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Growth In RIA Industry Outpaces Wirehouse Growth As Advisor Population Shrinks And Consolidates

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Registered investment advisors as a segment of the advisory population are growing. Their numbers increased by 3% in 2011 to 28,714. Independent RIAs keep more of what they make. Meanwhile, the total number of advisors fell from 323,566 in 2010 to 316,109 in 2011, a Cerulli report says.

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Pershing's Tibergien Sees Restructuring Of RIA Industry Similar To Accounting Industry

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Mark Tibergien, CEO of Pershing Advisor Solutions, foresees a metamorphosis of the RIA industry. He sees more strategic deals being made, accelerating consolidation of RIAs to add scale, not as an exit strategy for RIA business owners.

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