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January 29, 2013
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A weekly digest of news and industry updates for the financial planning community

  Top Story 
  Policy Watch 
  • Money-fund managers regroup ahead of new regulatory push
    Fidelity Investments, Vanguard Group and Charles Schwab are adopting a new strategy in the battle against money-fund reforms, seeking to limit the scope of such reforms rather than to entirely prevent an overhaul. The industry has regrouped around gaining exemptions for retail-oriented funds and is encouraging regulators to focus attention on prime institutional funds. Bloomberg (1/28) LinkedInFacebookTwitterEmail this Story
  • Coordination among regulators slows Dodd-Frank reforms, GAO says
    Fewer than half of Dodd-Frank Act rules had been implemented by the end of 2012, the Government Accountability Office says in a report. The GAO blames the complexity of the task as well as difficult coordination by overlapping and interconnected regulators. "Although regulators have established mechanisms to facilitate coordination ... several regulators indicated that coordination increased the amount of time needed to finalize rulemakings," according to the report. Reuters (1/23) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • Does your brain limit the number of clients you can handle?
    Technology is helping advisers become more efficient, but that doesn't necessarily mean they can handle huge numbers of clients, writes Michael Kitces of Pinnacle Advisory Group. Psychology and anthropology research suggests that the number of good relationships we can maintain is no greater than 150. "Beyond that, and our brains just can't keep track of everyone," Kitces writes. Management Center blog (1/23) LinkedInFacebookTwitterEmail this Story
  • Advisers' compliance is challenged by social media innovation
    A steady stream of features being added to social media such as Facebook, Twitter and LinkedIn will test financial advisers' ability to comply with securities law and company policy. LinkedIn's endorsement feature could inadvertently put advisers in violation of regulations governing advertising in the securities industry, compliance experts say. Reuters (1/23) LinkedInFacebookTwitterEmail this Story
  Industry Report 
  • Company eases complexity of intra-family loans
    A loan from a family member can be advantageous for both the borrower and lender, writes Michael Kitces, but ensuring that the loan qualifies as a loan for tax purposes can be complicated. A company called National Family Mortgage can make the transaction simpler for advisers and clients, he writes. Nerd's Eye View blog (1/23) LinkedInFacebookTwitterEmail this Story
  • Hybrid advisers top fee-only ones in asset growth
    Assets under management of dually registered financial advisers, who can accept fees and commissions, are increasing faster than those of fee-only advisers, according to Cerulli Associates. Hybrid advisers' assets increased 19.1% in 2012, while fee-only advisers' assets expanded 14.7%. (1/23) LinkedInFacebookTwitterEmail this Story
  FPA News 
  • Defining Financial Planning With the 4-Factor Decision Model
    What is financial planning? Financial planning can be defined as a profession that helps people make good decisions. Making financial decisions can be broken down to the interplay of four factors, and at least one of them might come as a surprise. Learn more about these four factors now. LinkedInFacebookTwitterEmail this Story
There's much to be said for challenging fate instead of ducking behind it."
--Diana Trilling,
American literary critic and author

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