Displaying items by tag: financial

Seems this wasn’t one of those prototypical meetings convened simply to discuss when to gather to conduct the next prototypical meeting. Ya da and Ya da.

Banking industry leaders from Grant Thornton recently gathered to chew over what prompted volatility to flare up and its impact on not only financial institutions, but the economy as well, according to grantthornton.com.

The one two punch of a lack of liquidity and asset liability management that wasn’t cutting the muster was at the root of the ills. The current environment has stirred plenty of uncertainty. Also deal in the Silicon Valley Bank run and the shuttering of Signature Bank, not to mention the wider sell off of stocks that unfolded at other institutions.

Meantime, typically, it might be sunny there, but in Miami-Dade County, employment in financial activities is burgeoning at a slower rate than last year, according to miamitodaynews.com. In fin-tech companies, prompted by the financial sector’s volatility, jobs are headed south.

The load down: in South Florida, jobs in financial activities climbed by 3.3% from March of last year to March of this year.

The tickets are going fast.

Must be a rock star in the house. Though not demanding bowls brimming exclusively with red M&Ms, of late, model portfolios have become all that and more, at least as far as some financial professionals are concerned, according to tifin.com

And, hey, they’re onto something. Besides salting away mucho time for investors, giving them all the opportunity to serve more clients with stepped up efficiency, they also play a pivotal role in their ability to ensure investment strategies remain on track throughout the client bases. What’s more, they make sure overexposure to any particular investment or asset class doesn’t burgeon into an issue.

Target risk models are a staple among a plethora of model portfolio types. Among several attributes, they’re designed to align with the goals of investors, who have specific risk tolerances. The range stretches from conservative to aggressive.

So, how popular are they? As of March of last year, assets following model portfolios hardly sat on their hands; they parachuted to $$349 billion, according to Morningstar, reported smartasset.com. That’s an approximately 22% bounce between June 30, 2021, and March 31, 2022.

Unless you can score a gig on, oh, say, MSNBC, as did a certain Donnie, developing a brand as a financial advisor isn’t exactly as simple as snapping your fingers. In fact, it can seem like the motherlode, according to lpl.com.

After all, there are myriad things that need to be nailed down, like choosing a name and landing on a brand logo. Compounding matters, if initiatives like these aren’t quite in your wheelhouse, well, it can be all the more daunting.

To find your mojo, below are a handful of basic steps:

1. Define your value proposition
2. Pick your DBA name
3. Develop a logo
4. Develop a Website
5. Execute with Consistency

Meantime, did someone say social media platforms? They can be leveraged by financial advisors to expand their business, according to mediaboom.com.

Advisors can share content that not only forges a community but can abet your ability to build trust with your audience. The trust of current and potential clients is gold to financial advisors, which is a good idea to foster considering you’re behind the wheel of the finances of others as well as their long term wealth.

Jamie Dimon, JPMorgan Chase C.E.O, has his eye on the road. Significantly down the road.

While he’s expected to outline his plans for the bank for years down the line, according to the New York Times, when it comes to the issue of who his successor will be, he’s likely to encounter questions anew.

While he’s not expected to climb down from the saddle anytime soon, the issue could rise to the surface among shareholders once again in light of succession plans at two rivals of JPMorgan. At Morgan Stanley, James Gorman recently announced he planned to step away within the next 12 months, while there are reports that Ken Jacobs, CEO of Lazard, is prepping to depart.

Meantime, whenever he decides the time’s right to hit the exit, Dimon will do so with considerably more than a gold watch. If he’s in his current position in 2026, he’ll pocket an additional $50 million payout, according to the site.  

Speaking of which, in terms of compensation changes around the big boys of broker-dealers – save for a few exceptions among some of the regional national firms – the year, it seems, is destined to be relatively quiet, according to financial-planning.com.

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Seems the referee threw a flag.

Between January 2018 and December 2021, SW Financial, based in Melville, New York, and the co owner of the firm, Thomas Diamante, made material misrepresentations, neglecting to include material information linked with the sale of private placements offerings of pre-IPO securities, according to thinkadvisor.com. It was a duo violation; of FINRA rules and Reg Bi’s Disclosure Obligation as well.

According to Reg Bi’s Disclosure Obligation, it’s incumbent upon broker dealers – as well as those associated – to provide investor clients, “with full and fair written disclosure, prior to or at the time of a recommendation, of all material facts relating to conflicts of interest associated with the recommendation,” as spelled out by FINRA.   

Although it’s FINRA’s maiden expulsion, it’s not its first enforcement action evolving around Reg Bi, which has been around since 2020, according to the National Review.

By year’s end, FINRA pronounced, compliance examinations of 1,000 broker-dealers would be conducted.