Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that amidst growing cybersecurity threats targeted at the finance industry, the SEC adopted final amendments to Regulation S-P that will require SEC-registered RIAs and other financial firms to develop, implement, and maintain written policies and procedures for an incident response program to detect, respond to, and recover from unauthorized access to or use of customer information. Further, firms will be required to include procedures to notify clients whose sensitive information was or is “reasonably likely” to have been accessed or subject to unauthorized use. And while firms will have between 18 and 24 months to comply with the amendments, adopting strong cyber hygiene practices could help firms proactively mitigate cyber risks, better protecting client data and maintaining the trust of their clients in the process.
Also in industry news this week:
- Why the Federal government is proposing new rules targeting the use of donor-advised funds that could impact financial advisors who work closely with them
- A recent report indicates that while financial advisory firms prioritize their client experience, they often make such decisions without consulting their clients first
From there, we have several articles on investment planning:
- Why the current moment could be an attractive environment for investors considering an allocation to intermediate-term bonds
- How fiscal pressures could keep bond yields’ higher for longer’ and make certain fixed-income investments less attractive
- Why market forecasts are often incorrect, even when they are based on seemingly sensible fundamental analyses
We also have a number of articles on practice management:
- Financial advisory industry veteran Joe Duran offers a 4-part framework for advisors to achieve greater organic growth in the years ahead
- How “embracing discomfort” can help an advisory firm break out of its normal routine and boost its growth trajectory
- 5 shifts transforming growth for advisory firms, from using technology as a growth driver and capacity builder to leveraging the remote work environment to attract clients regardless of geography
We wrap up with 3 final articles, all about compensation:
- Strategies to negotiate a higher salary, from finding senior advocates to lobby on one’s behalf to obtaining a competing job offer as leverage during raise discussions with one’s current employer
- Why autonomy is a key factor in determining job satisfaction and overall wellbeing and what this means for financial advisors
- Why one company publishes every employee’s salary online and how doing so has helped it and its staff thrive
Enjoy the ‘light’ reading!
