Archive by Author

Attend My Panel Presentation at FPA DFW Career Day

Posted on January 27, 2010 by in General

I was asked to appear on a panel for the upcoming FPA of DFW Career Day event this Friday, January 29. The panel is going to address career development and career path trends for young financial planners and career changers in the financial planning industry.

I believe there will be a total of four panelists, each representing different backgrounds, experiences, and pathways into financial planning. All panelists are members of FPA NexGen, a unique community for up-and-coming professionals who represent the future of financial planning.

Click here to visit the FPA DFW Career Day 2010 event listing. Today (Wednesday) is the last day to register, so be sure to sign up!

The Career Day and CE event begins at 11am while the round table panel discussion is scheduled to begin around 2:30pm.

If you plan to attend the Career Day event, please seek me out and introduce yourself. Also, if you have questions about career development, bring them up during the round table discussion.

FINRA Issues Guidance to Firms, Brokers on Communications with Public Through Social Networking Web Sites

Posted on January 25, 2010 by in Technology

That’s right, FINRA just released guidance on the use of social media webistes!

Click here to read the release on FINRA’s website.

Here are several links to coverage, reviews, and feedback by folks I follow in the blogosphere and social media space:

A Results Only Work Environment in Financial Services?

Posted on January 22, 2010 by in Practice Management

I just read a great article at CPA2Biz from Alexandra DeFelice, senior editor of the Journal of Accountancy. Ms. DeFelice highlights a CPA firm that implemented the Results Only Work Environment, or ROWE, and explains how it rewarded employees for productivity and work output rather than recognizing how many hours each employee spends in an office chair.

Click here to read Rewarding Talent Beyond Billable Hours.

ROWE is the brain child of Cali Ressler and Jody Thompson, authors of the book Why Work Sucks and How to Fix It.

I’ve always been curious how well the ROWE principles would work in the financial services setting. As evidenced by the CPA firm reviewed in the article, ROWE is freeing employees to work how and when they want, but to always be striving to produce results in all aspects of work.

Would ROWE work inside independent financial adviser firms? What do you think?

Is iPhone Security Adequate for Financial Advisers?

Posted on January 6, 2010 by in Technology

Here’s a quick update to share an article I recently discovered concerning security of data on iPhones.

While this article is directed to lawyers, it is directly applicable to financial advisers who use iPhones to access information about clients.

But don’t the iPhone 3G’s encryption and unlock code features protect data from nefarious characters? No they don’t, according to Sharon D. Nelson, Esq. and John W. Simek of Sensei Enterprises, Inc.

Click here to read their article, Why Lawyers Shouldn’t Use The iPhone: A Security Nightmare.

Top 10 FPPad Posts of 2009

Posted on January 1, 2010 by in General

I’m on vacation and away from the home office this week, but I do have a little time for this short post.

According to Google Analytics, these are the top 10 posts published on FPPad in 2009.

Happy New Year!

Twas the Night Before Christmas: Adviser Technology Edition

Posted on December 23, 2009 by in General

Twas the night before Christmas, when all through the firm,
Not a loss was un-harvested, not even long-term.
Reports were uploaded to portals with care,
Right next to newsletters with good news to share.

The clients were pleased with their tax assessments,
With visions of goals and model investments.
My partner and I, after giving a greeting,
Had just settled in to a new client meeting.

When out in the hall there arose such a clatter,
I sprang from my chair to see what was the matter.
Away to my netbook I flew like a flash,
Double-clicked on Google Chrome, fearing a crash.

Read More…

Twas the Night Before Christmas: Adviser Technology Edition

Posted on December 23, 2009 by in General

Twas the night before Christmas, when all through the firm,
Not a loss was un-harvested, not even long-term.
Reports were uploaded to portals with care,
Right next to newsletters with good news to share.

The clients were pleased with their tax assessments,
With visions of goals and model investments.
My partner and I, after giving a greeting,
Had just settled in to a new client meeting.

When out in the hall there arose such a clatter,
I sprang from my chair to see what was the matter.
Away to my netbook I flew like a flash,
Double-clicked on Google Chrome, fearing a crash.

Read More…

November 2009 CFP® Certification Examination Results Update

Posted on December 21, 2009 by in General

Quite a few searches are being made right now for the results from the November 2009 CFP® Certification Examination.

Remember that CFP Board posts regular status updates to its website to inform examinees of the scoring process. Today, CFP Board released the following update:

Still curious on exactly how long it takes between taking the exam and receiving official certificaton? This post on FPPad, How Long Does it Take to Complete the CFP® Certification Process?, should clear up many questions.

In addition, CFP Board recorded their webinar on July 30, 2009 discussing the post CFP® Exam process and what examinees can expect while waiting for results. I’m including the YouTube video below for your convenience.

Surprise Audit Provision Dropped From New SEC Custody Regulations

Posted on December 17, 2009 by in Compliance

secAbout six months ago in response to the uproar over the Bernie Madoff fraud, the SEC proposed updates to the custody rule that would require RIAs who debit fees from client accounts to be subject to surprise audits.

Needless to say, this proposal did not go over well, especially when costs for surprise audits were estimated to be north of $8,000.

See previous posts on FPPad: Proposed SEC Custody Rules Could Cost Advisers Extra $8,100 and SEC Surprise Audit Proposal Likely to be Dropped According to FPA.

Yesterday the SEC passed new custody regulations, and the surprise audit provision for RIAs who only debit fees was dropped. In addition, the SEC published a custody matrix, if you will, defining the different adviser arrangements along with their respective duties and responsibilities.

The folks over at RIABiz posted more about the custody provisions, plus they included the custody matrix chart for reference.

Click here to view the custody matrix on the RIABiz website.