IA > Columnists http://www.investmentadvisor.com Copyright 2008 News, Advice, Events & Analysis for Independent Advisors & RIAs en-us http://www.investmentadvisor.com/images/ia_logo122x21.gif IA > Columnists http://www.investmentadvisor.com Mackey to Leave NAVA http://www.investmentadvisor.com/article.php?article=8495 Mon, 21 Jan 2008 13:43:00 -0500 Melanie Waddell Finance http://www.investmentadvisor.com/article.php?article=8495 Goal is to find replacement for CEO spot by NAVA’s annual meeting in October

After more than 12 years as president and CEO of NAVA, Mark Mackey has resigned to pursue other opportunities in the financial services arena.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> No Trust, No Relationship http://www.investmentadvisor.com/article.php?article=8493 Mon, 21 Jan 2008 13:32:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8493 A conversation on an airplane reminded Mike Patton that when a dishonest or incompetent broker causes harm to clients, it tarnishes everyone in the profession.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> How Solos Can Keep From Being Overwhelmed http://www.investmentadvisor.com/article.php?article=8465 Tue, 15 Jan 2008 11:51:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8465 Mike Patton has found that one of the more challenging aspects of being a solo practitioner is choosing what you will do and what you won’t.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> The Best Recruiting Tool Ever http://www.investmentadvisor.com/article.php?article=8456 Wed, 9 Jan 2008 12:46:00 -0500 Angela Herbers Finance http://www.investmentadvisor.com/article.php?article=8456 As she writes in her latest blog post, Angie Herbers has found that using interns in your office may well be the best recruiting tool ever.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> What Do the Big Firms Want in an Advisor? http://www.investmentadvisor.com/article.php?article=8453 Tue, 8 Jan 2008 09:25:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8453 Mike Patton uses his latest blog post to wonder just what the industry giants look for in an advisor. Is it someone "who drinks the company Kool-Aid?" A good salesman? Or a professional with technical expertise who can really give clients good advice.

Mike Patton uses his latest blog post to wonder just what the industry giants look for in an advisor. Is it someone "who drinks the company Kool-Aid?" A good salesman? Or a professional with technical expertise who can really give clients good advice.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> What I'll Do Different in '08 http://www.investmentadvisor.com/article.php?article=8452 Fri, 4 Jan 2008 09:19:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8452

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> DOL Issues Fee Disclosure Regs http://www.investmentadvisor.com/article.php?article=8427 Tue, 1 Jan 2008 00:00:00 -0500 Melanie Waddell Finance http://www.investmentadvisor.com/article.php?article=8427

The Department of Labor (DOL) introduced on December 12 its long awaited proposed rules on enhancing the disclosures regarding fees that fiduciaries of 401(k) plans and other employee benefits plans receive to help them determine whether the compensation paid to plan service providers is reasonable, as well as conflicts of interest that may affect a service provider’s performance under a service contract or arrangement.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Of Religion and Wealth http://www.investmentadvisor.com/article.php?article=8424 Mon, 24 Dec 2007 10:01:00 -0500 Lewis Schiff Finance http://www.investmentadvisor.com/article.php?article=8424 Lewis Schiff doesn't shy away from the things we're not supposed to talk about in polite conversation. In his last post he addressed the issue of wealth and race. This time he's taking on wealth and religion.

Lewis Schiff doesn't shy away from the things we're not supposed to talk about in polite conversation. In his last post he addressed the issue of wealth and race. This time he's taking on wealth and religion.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> What's a Tax Engineer? http://www.investmentadvisor.com/article.php?article=8423 Fri, 21 Dec 2007 09:52:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8423 In his latest post, advisor Mike Patton takes stock of the year just ended, including the recent addition of a tax engineer (cost aggregation specialist) to his stable of professional contacts.

In his latest post, advisor Mike Patton takes stock of the year just ended, including the recent addition of a tax engineer (cost aggregation specialist) to his stable of professional contacts.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Should We Ask More Questions of Clients? http://www.investmentadvisor.com/article.php?article=8394 Mon, 17 Dec 2007 10:47:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8394 Mike Patton knows that the better the information an advisor collects, the better the advice he can render. Ironically, it may be the clients who are slower in getting the information to us, those who are the most disorganized, that need us the most.

Mike Patton knows that the better the information an advisor collects, the better the advice he can render. Ironically, it may be the clients who are slower in getting the information to us, those who are the most disorganized, that need us the most.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Future Shock http://www.investmentadvisor.com/article.php?article=8393 Sat, 15 Dec 2007 10:39:00 -0500 Angela Herbers Finance http://www.investmentadvisor.com/article.php?article=8393 Angie Herbers notes that in today's "buyer's market," potential job candidates often demonstrate less than common courtesy. She suggests that advisors use this rudeness to screen out potential employees.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> The Rainmaker http://www.investmentadvisor.com/article.php?article=8385 Wed, 12 Dec 2007 13:23:00 -0500 Bob Clark Finance http://www.investmentadvisor.com/article.php?article=8385 Following Mark Tibergien's move from Moss Adams to Pershing, Bob Clark offers a year-end toast for all he's contributed toward turning the advisory business into a "real" profession.

I remember sitting in Mark’s general session at the FPA national conference in Seattle, where he presented the findings of the 2007 Moss Adams Financial Advisory Compensation & Staffing Study to a packed house that had to be over 2,000 attendees. His leaving Moss Adams had just been announced the day before, and was mentioned when he was introduced. Yet while his presentation was well-received as always, his audience failed to give him a standing ovation, which I felt at the time was a missed opportunity to acknowledge the tremendous contribution Mark has made to the independent advisory profession over the past 20 years or so.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Thoughts on Race, Class, and Wealth http://www.investmentadvisor.com/article.php?article=8382 Sun, 9 Dec 2007 09:59:00 -0500 Lewis Schiff Finance http://www.investmentadvisor.com/article.php?article=8382 Lewis Schiff looks at some interesting research on the "widening gulf between the values of the middle class and poor blacks."

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Getting Clients to Implement the Plan http://www.investmentadvisor.com/article.php?article=8383 Sat, 8 Dec 2007 10:01:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8383 Mike Patton gives voice to the frustration that can occur when a planner has crunched the numbers, prepared a thorough analysis, selected the most appropriate strategies, and presented them to his clients, only to find their eyes are glazing over.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Senate Passes AMT Bill http://www.investmentadvisor.com/article.php?article=8381 Fri, 7 Dec 2007 09:52:00 -0500 Melanie Waddell Finance http://www.investmentadvisor.com/article.php?article=8381 Would limit tax's impact for 2007

The Senate approved legislation December 6 designed to shield some 19 million American families from being hit by the alternative minimum tax (AMT) this year.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> What I Learned in Washington http://www.investmentadvisor.com/article.php?article=8376 Sun, 2 Dec 2007 13:22:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8376 Mike Patton says he met some great people at the annual Investment Advisor Moss Adams Advisor Summit last week in the nation’s capital. He shares how some fellow attendees’ charge for their services, and where Mark Tibergien suggested Mike spend more time and effort.

Part of this week was spent in Wash DC attending the Investment Advisor annual conference. While there, I met some great people and was able to “pick their brain” a bit. It has been a long held belief of mine that you can learn something new from everyone you meet. It’s interesting to me to hear of the different ways advisors approach their business, specifically, the services they offer, and how they price them.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Using Your Noggin http://www.investmentadvisor.com/article.php?article=8322 Sun, 25 Nov 2007 18:58:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8322 How many times have you had an idea and wondered why you didn't think of it sooner? That happened to Mike Patton last week.

I needed to find a way to easily track and manage the process. I have about 30 projects or ideas to consider. Assuming each idea requires several steps, and that many of those steps are dependent on other steps, it became critical to find a way to manage this effectively. Though I'm not sure if I've found a solution, I have logged and prioritized all of my ideas into the project manager in Microsoft Outlook with Business Contact Manager. This program allows you to put a deadline on each project (idea) and create the steps necessary to bring them about.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> FPA Calls for Major Regulatory Reform http://www.investmentadvisor.com/article.php?article=8321 Wed, 21 Nov 2007 15:03:00 -0500 James J. Green Finance http://www.investmentadvisor.com/article.php?article=8321 Comments on planned review by Treasury Department

In a long, comprehensive comment letter filled with references to the history of financial regulation in the United States, the Financial Planning Association told the Treasury Department on Nov. 16 that it agreed with Treasury’s plans to review the current financial regulatory structures, “along with ways to improve efficiency, reduce overlap, and strengthen consumer and investor protections.”

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Maximum Impact http://www.investmentadvisor.com/article.php?article=8315 Sun, 18 Nov 2007 12:32:00 -0500 Angela Herbers Finance http://www.investmentadvisor.com/article.php?article=8315 Angie Herbers believes the next big thing for larger advisory practices—and those firms who want to be large—will be a boom in effective training for young professionals.

For some years now, firm owners have been underpaying young professionals, as evidenced by the high turnover rate among NextGen planners, and by the much higher comp that young professionals can command in other professions such as accounting and securities sales. Hopefully, the tide of rising wages will help stop the brain drain of smart young planners leaving the professionals. I believe the next big thing for larger advisory practices—and those firms who want to be large—will be a boom in effective training for these young professionals.

Sponsored By:

DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

]]> Getting Out of the Mud http://www.investmentadvisor.com/article.php?article=8316 Thu, 15 Nov 2007 12:38:00 -0500 Mike Patton Finance http://www.investmentadvisor.com/article.php?article=8316 Early in his days as an independent, Mike Patton said, “It’s not the company with the best business plan that succeeds, but the company which executes their plan best.” Now he's the “company.”

Perhaps one of the most challenging things about this business, especially for the RIA, is that there are so many ways to proceed. Not only do you have to decide what services to provide but also how to price them and how to market them. It’s the numerous options available that can really bog you down. Let’s talk about software for a minute and specifically as it pertains to investments.

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DWS ScudderDWS Scudder, the U.S. retail brand name of Deutsche Asset Management, provides financial advisors with a comprehensive selection of innovative investment strategies.
www.dws-scudder.com

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