If you’re just starting a financial advisory firm, the last thing on your mind is likely what to do if you have to terminate an employee. However, that day will come sooner or later, and you need to be prepared. In this industry, one of your most crucial...
Break Away From The Pack
Year: 2021
What can lead to allegations of securities fraud?
There are many investment options from which investors can choose. Offerings that are nuanced or appear to offer investors high yields may stand out from the pack. It's your fiduciary duty as a financial advisor to be clear with your clients about the benefits and...
Five tips for successfully managing your workforce
Running a business is not an easy task to manage, but it can be nearly impossible without the help of a reliable workforce. It is essential to be an effective leader for your workforce, as poor leadership can negatively affect your company. Everyone wants to be a good...
Soft landing cushions broker’s fall after Morgan Stanley ouster
Last month, Morgan Stanley terminated a veteran Boca Raton broker with more than a billion dollars in client assets in his management portfolio. The broker began working for Smith Barney — Morgan Stanley’s predecessor — in 1989 and had spent his entire 31-year career...
How to write an employee handbook for your new firm
You have made the decision to start your own firm – congratulations! It’s an exciting professional milestone for you and your new employees. There are a lot of key details to be taken care of, among them the creation of an employee handbook. This document is...
Managing employee conflicts in your brokerage firm
For any emerging wirehouse, financial advisement company or brokerage, your employees are among your best assets. They can, however, also become a huge liability if your employer-employee relationship sours. Understanding how to minimize the potential for serious...
Can you leave your employer if you signed a contract?
You’ve spent the last 15 years working for a major financial institution. You’ve learned an incredible amount on the job, far beyond what you learned in school, but you’ve grown tired of working for another corporation. You want to leave and open your own office. ...
How can an attorney help you break away and start your own financial advising firm?
If you’ve been a financial advisor for a while, you may dream of one day breaking away from the big firm you work for. You may want more autonomy, the ability to set your own hours and use your own financial planning philosophy more when you work with clients....