By Almo Lubowski, CFP, South Africa
Nobody is under any illusion that a financial planning practice is in the business to be profitable and serve as a source of income for its owners and employees. However, it is unfortunate that many still overlook the need to engage in implementing some important practice management strategies for their businesses in favour of purely focusing on sales targets and production.
Continue reading Good Practice Management and Sales: A Continued Tug-of-War
By Tony Vidler, Former Chairperson of IFA, New Zealand
As with most of the developed world New Zealand has undergone significant regulatory reform in recent years. It has been done well by international comparison, though it is apparent that regulation alone will not create an advice profession. It may be a catalyst, but not a cure.
Continue reading Avoiding Regulatory Rigor Mortis
Should financial planners expanding their practice into new territories be required to meet all certification and regulatory requirements in the new territory, or should they be allowed to practice based on compliance with certification and regulatory requirements in their home territory?
Continue reading Point/Counterpoint: What Should the Regulatory Requirements Be for Financial Planners Expanding into New Territories?
By Taylor Liao, CFP, Taiwan
CFP professionals in Taiwan have to accomplish thirty hours of CPD courses every year, but that may vary depending on the territory. It is hard to learn the knowledge of running an advisory firm due to the lack long standing financial planning firms in Taiwan.
Continue reading CFP Professionals: Building Awareness and Overcoming Regulatory Limits
Phil Billingham, CFP says yes:
As an argument for staying on commission, it’s right up there with ‘But my clients won’t pay fees’. It’s ‘If I move to fees, my older/smaller clients will not be able to afford me’. To translate this, the argument is that ‘I will have to stop looking after them because they will not be profitable enough’.
Continue reading Point, Counterpoint: Can fee-only financial planners serve smaller clients effectively?
By Suresh Sadagopan, CFP
“Times, they are a’ changing”, goes a song from times gone by. For the financial services industry, the changes have started coming in, fast and thick, since 2008.
The entire financial community was viewed with suspicion, with bankers bearing the brunt, for obvious reasons.
Continue reading Regulatory Changes in India Affecting Financial Planners
By Noel Maye, FPSB CEO
During the first week of March, I joined FPSB’s Examinations Working Group, FPSB’s Experience & Continuing Professional Development (CPD) Working Group and the FPSB Standards Committee in Dubai, UAE. Altogether, we had 16 CFP professionals, academics and association leaders, put forward by FPSB member organizations, who worked for three days to present recommendations to the FPSB Standards Committee on education and assessment standards, and guidance for evaluating and promoting a meaningful global experience and CPD standard for CFP certification.
Continue reading FPSB CEO Update: “The discussion needs to be planner AND adviser.”
By Taylor Liao, CFP
The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) brings a new era of regulation focused on promoting transparency and accountability in the US.
Continue reading Regulation Challenges Facing Financial Planners