Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/dDdWCfbwocevviApcLcA

April 30, 2012
Sign upForwardArchive
Twice-weekly summary of financial industry news
Follow @FSIwashington

  Top News 
  • FSI's Brown takes long view on SRO bill
    A House bill backed by Reps. Spencer Bachus, R-Ala., and Carolyn McCarthy, D-N.Y., that would create a self-regulatory organization for investment advisers faces long odds of passing in the Senate this year. But that isn't stopping parties on both sides of the issue from mobilizing. "We've known all along this is a multiyear effort," said FSI President and CEO Dale Brown. "It will help, if we can have a strong showing in the House, to keep the momentum going next year." InvestmentNews (free registration) (4/27) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • FINRA offers lower cost estimate for adviser SRO
    The Financial Industry Regulatory Authority says that it would cost between $12 million and $15 million to establish FINRA as a self-regulatory organization for advisers, and between $150 million and $155 million annually to administer the program. That's markedly less than had previously been estimated by the Boston Consulting Group, which projected startup costs of $200 million to $255 million and ongoing costs of up to $510 million a year. Financial-Planning.com (4/26), AdvisorOne (4/25), InvestmentNews (free registration) (4/26) LinkedInFacebookTwitterEmail this Story
  • Fixing Social Security could hurt younger Americans most, experts say
    Delays by Congress in changing Social Security funding mean more older Americans are likely to escape cuts, says Andrew Biggs, formerly of the Social Security Administration. That will leave younger Americans to absorb benefits cuts. But if lawmakers wait until 2033 to act and then shield older Americans from changes, even eliminating benefits for younger Americans won't be enough to solve the fiscal mess, says Chuck Blahous, a Social Security trustee. Bloomberg Businessweek (4/26) LinkedInFacebookTwitterEmail this Story
  • Commentary: Older Americans should share in cuts: While those 55 and older shouldn't have to see drastic cuts in Social Security benefits, they should bear some of the pain, Alicia Munnell writes. "[T]he baby boom generation, instead of raising taxes on itself, kicked the can down the road," Munnell writes. "Now that many of its members are over 55, they want to foist the burden on younger generations." SmartMoney.com/Encore blog (4/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Building Your Business 
  • Poll: Most advisory firms pay interns
    Nearly 90% of advisory firms and brokerages that used interns last year paid them, according to a survey by IN Adviser Solutions. The average pay for interns was $13.49 an hour, the survey found, and data-gathering and clerical work were the top tasks assigned to interns. InvestmentNews (free registration) (4/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Products 
  • Report details advisers' strategies amid low interest rates
    A survey-based report indicates that 85% of advisers say low interest rates have affected their ability to help retirement-income clients. Many advisers have reacted to low rates by turning to annuities with living-benefit income riders or dividend-paying stocks, the report found. AdvisorOne (4/25) LinkedInFacebookTwitterEmail this Story
  • Some financial planners suggest private student loans
    With federal student-loan rates set to double in July unless Congress acts, some financial planners are recommending private student loans as an alternative for parents with good credit. Private loans with variable rates, which now start at around 3%, are a good option for those planning to pay off the debt within a couple of years, planners say. SmartMoney.com (4/25) LinkedInFacebookTwitterEmail this Story
  • Other News
  Retirement Focus 
  FSI Member News & Events 
  • 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
Contact FSI  |  Home Page  |  Advocacy Action Center  |  Renew  |  Join  |  Update Your Member Record
Connect with us -> Facebook  |  LinkedIn  |  Twitter

  SmartQuote 
A sound mind in a sound body is a short but full description of a happy state in this world."
--John Locke,
British philosopher


LinkedInFacebookTwitterEmail this Story

 
SmartBrief Subscriber Tools
     
Print friendly format | Web version | Search past news | Archive | Privacy policy

 
Contact FSI
Financial Services Institute, Inc.
1905 Woodstock Road
Suite 1200
Roswell, Georgia 30075
Toll-free: 888 373-1840
Fax: 770 980-8481
financialservices.org
membership@financialservices.org
 
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 financialservices.org

 
 Recent FSI Newsbrief Issues:   SmartBrief Lead Editor:  Sean McMahon
     
SmartBrief Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
 
 
© 1999-2012 SmartBrief, Inc.® Legal Information