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October 29, 2012
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Twice-weekly summary of financial industry news
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  Top News 
Quarterly Small Business Leadership Report
Three industry heavy weights dish up the facts on what you need to know about the future of collaboration, increasing productivity and readying the office for the millennial workforce. Read the guide.
  Policy Watch 
  • Conflicts of interest attract the interest of FINRA
    The Financial Industry Regulatory Authority has turned its attention to how brokerages handle conflicts of interest and compensation arrangements that encourage brokers to promote certain financial products. FINRA is looking at 14 top brokerage firms, but officials would not name the firms or identify specific issues under investigation. Reuters (10/24) LinkedInFacebookTwitterEmail this Story
  • FINRA says RIAs can now access arbitration system
    The Financial Industry Regulatory Authority's complaint system, which was previously accessible only for claims involving securities firms and broker-dealers, has been opened up to include registered investment advisers. InvestmentNews (free registration) (10/28) LinkedInFacebookTwitterEmail this Story
  • SEC backs widening use of FINRA's Trace system
    The Securities and Exchange Commission gave its nod to a proposal from the Financial Industry Regulatory Authority to establish public reporting of trading in specified government-backed mortgage bonds and securities tied to Small Business Administration loans. The plan, which leverages FINRA's Trace system, is intended to provide greater transparency. Anyone with Internet access could get real-time data on most bond trading. Bloomberg (10/25) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • Survey finds common account-opening inefficiencies
    Advisers' preferences and established habits that lead to inefficiencies are among the reasons that many broker-dealers don't have well-developed account-opening practices, a factor that contributes to client loss and lower satisfaction, an Aite Group white paper finds. One common inefficiency is an adviser's insistence on direct purchase of mutual funds from product manufacturers even when the purchase could be handled better through a broker-dealer workstation. AdvisorOne (10/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Products 
  • Investors to rethink investments, financial plans after election
    Affluent investors feel confident they have amassed enough cash holdings and plan to increase investments after the election, according to a UBS study. Also, nearly half of high-net-worth investors say they will revisit their financial plans once the election is past, according to the poll. AdvisorOne (10/26) LinkedInFacebookTwitterEmail this Story
  • Advisers should tout security offered by annuities, expert says
    Variable annuities are complex and may carry negative connotations for some investors, but they can be an effective part of a diversified retirement plan for baby boomers seeking guaranteed income and an alternative to stock-market volatility, Cerulli's Scott Smith says. "Many of these baby boomers are quite concerned. If they've invested 100% in equities with no guarantee and the market goes down 300% -- they've seen that happen twice in the last decade. They don't want that to happen again," Smith says. Employee Benefit News (10/25) LinkedInFacebookTwitterEmail this Story
  Retirement Focus 
  • Advisers respond as retirees pull out of 401(k)s earlier
    A larger proportion of retirees are pulling their funds out of their 401(k) plans within three years of retirement than was the case even four years ago, a JPMorgan Chase analysis finds. Advisers are responding by having earlier talks with clients that focus on how to live on a fixed income. "We want them to understand what they're looking at in terms of expenditures," said Joe Connell, managing director at Sheridan Road Financial. InvestmentNews (free registration) (10/28) LinkedInFacebookTwitterEmail this Story
  • Other News
  FSI Member News & Events 
  • Download the new FSI Advocacy App!
    The Financial Services Institute has launched a smartphone and tablet application designed to help advisers expand their role in the advocacy process. The app helps advisers contact their local representatives in Congress, get up to speed on FSI's advocacy priorities and know the top issues affecting the industry. Learn more about the app and download it today. LinkedInFacebookTwitterEmail this Story

  • FSI video touts advocacy results
    FSI urges you to watch this 50-second powerful video that highlights our impressive advocacy results in 2011. Our members' grass-roots and financial support are what make these accomplishments possible. Thank you for your membership! LinkedInFacebookTwitterEmail this Story

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--Hans Hofmann,
German-American abstract expressionist painter

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About FSI
FSI was formed in January 2004 as an advocacy and membership organization for independent broker-dealers and independent financial advisors. We provide insight, information, influence, and involvement--all in support of our mission to provide visibility, credibility, and an improved regulatory environment for the independent channel. Learn more at

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