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Upcoming Webinar: Best Practices in Advisor Succession Planning
We’re excited to announce our upcoming webinar Best Practices in Financial Advisor Succession Planning, scheduled on Wednesday, June 22, 2022, at 1:00 PM CT. By now, those of us working in the financial advice industry are well aware of the looming advisor shortage....
Research Shows Financial Advisor Headcount Lags Behind Productivity in 2021
FINRA Priorities: Automated Solutions for Variable Annuity Data
Best Practices in Working With Your Third-Party Broker-Dealer Webinar Recap
We recently hosted a webinar titled: Best Practices in Working With Your Third-Party Broker-Dealer. This webinar explored how bank and credit union investment services programs can get the most out of their third-party broker-dealer partnership. Terrapin Technologies...
FINRA’s Top Enforcement Issues in 2020
According to a new study by Eversheds Sutherland, FINRA disciplinary actions show a surge in enforcement activity in 2020. What caught my eye was a dramatic increase in fines related to variable annuity cases—a 1062% increase! To put that in context, overall fines...
Upcoming Webinar: Best Practices in Working With Your Third-Party Broker-Dealer
We're excited to announce our upcoming webinar Best Practices in Working With Your Third-Party Broker-Dealer scheduled on Wednesday, March 17, 2021 at 1:00 PM CT. In this webinar, we explore how your investment services program can get the most out of your third-party...
FINRA’s 2021 Examination and Risk Monitoring Program Report
This February, FINRA released the 2021 Report on its Examination and Risk Monitoring Program. The Report is designed to inform member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations. The Report combines and replaces...
Terrapin Technologies Launches Trade Surveillance Solution in partnership with Wintrust Wealth Management
Wintrust Wealth Management invests in technology enhancement benefitting its compliance program by delivering a more agile and efficient analysis of direct business transactions. Minneapolis, M.N. – Jan. 19, 2021: Terrapin Technologies today announced a new trade...
Webinar Recap: Leveraging Financial Institution Data in LPL Bank and Credit Union Programs
We recently hosted a webinar titled: Leveraging Financial Institution Data in LPL Bank and Credit Union Programs. The panel featured industry leaders who discussed ways to leverage financial institution data to successfully drive revenue and growth. Discussion topics...
Upcoming Webinar: Leveraging Financial Institution Data in LPL Bank and Credit Union Programs
Does your investment program lack a complete picture of your client’s wealth across the organization? Are you looking for new ideas on collaborating with the financial institution to boost referrals and drive growth? If either of these resonates with you, then join us...
Third-Party Broker-Dealers Explained
The Third-Party Broker-Dealer Model A growing number of banks and credit unions are partnering with third-party broker-dealers (also known as third-party marketers) such as LPL Financial Institution Services and Raymond James Financial Institutions Division. Industry...
Webinar Recap: Leveraging Data For Compensation in LPL Bank and Credit Union Programs Part 2
A few weeks ago, we hosted a webinar titled: Leveraging Data For Compensation in LPL Bank and Credit Union Programs. We brought together a group of seasoned leaders to discuss advisor compensation best practices. Terrapin Technologies President, Kristefor Lysne,...
Upcoming Webinar: Leveraging Data in Raymond James Bank and Credit Union Programs
Are you confident you're getting the most out of your data? Does your firm struggle with seeing the big picture? Do you need to overhaul your advisor compensation plans? If any of these resonate with you, then join us at our upcoming webinar Leveraging Data in Raymond...
Webinar Recap: Leveraging Data For Compensation in LPL Bank and Credit Union Programs, Part 1
We recently hosted a webinar titled: Leveraging Data For Compensation in LPL Bank and Credit Union Programs. With an excellent panel of experts, we discussed best practices with leveraging data for advisor compensation, including the following topics: A look at key...
Upcoming Webinar: Leveraging Data For Compensation in LPL Bank and Credit Union Programs
Are you confident you are compensating your advisors for the right activities? Do you need to overhaul your advisor compensation plans? Are you looking for ways to improve advisor performance? If so, then join us at our upcoming webinar Leveraging Data For...
DTCC’s Vital Role in Post-Trade Processing
An Overview of DTCC The Depository Trust & Clearing Corporation (DTCC) plays a vital role in the financial services industry. DTCC provides clearing and settlement services for the world's financial markets. In 2021 DTCC processed 800 million securities...
Top Causes of Inefficiency and Low Productivity in Your Back-Office
Are your back-office operations functioning as efficiently as they should be? Maybe you're unsure. Or perhaps, you've got a good idea that they're in need of improvement, but you're not sure where to begin, so you put off addressing it. Or, worse yet, you convinced...
5 Steps to a Successful Technology Implementation
Enterprise-level technology implementations are known for being a challenging and complex process. Shoddy planning, poor communication, and corrupt data can be detrimental not only to the project but to the organization as a whole. According to data collected by...
Is Your Firm Prepared for Reg BI?
Best Interest Standard of Conduct The Regulation Best Interest (Reg BI) compliance deadline is just around the corner – June 30, 2020, to be exact. One of the many challenges is obtaining a solid grasp of Reg BI and it’s numerous implications (it certainly doesn’t...
Why Data Quality Management Is Crucial for Investment Firms
The Consequences of Poor Data Quality We talk a lot about data quality and data management. When consulting with investment firms, we frequently use the phrase "get your data in good order." But what does that really mean? And why does it matter? The bottom line is...
10 Best Podcasts for Financial Professionals
To say that podcasts have become incredibly popular within the past few years is an understatement. According to Edison Research, 62 million Americans listen to podcasts every week. Their popularity is largely due to the depth and breadth of content, from aviation to...
FINRA 2020 Risk Monitoring and Examination Priorities
In January 2020, the Financial Industry Regulatory Authority (FINRA) released it's 2020 Risk Monitoring and Examination Priorities Letter highlighting areas of focus for their risk monitoring, surveillance, and examination programs as well as new and emerging areas....
How to Build a Business Case for Technology Investments
What is a Business Case and Why You Need One Building a strong business case for technology investments is critical. Many projects fail due to poor project planning or lack of executive buy-in and support, or a combination of each. Building a business case will help...
The Advantages of Financial Planning for Investment Firms
Financial Planning Represents an Increasingly Important Role Research conducted by Financial Planning shows that in 2017, fee-based revenue overtook commission-based revenue for the first time. There is a myriad of factors driving this change, including industry...
Weighing the Benefits of Financial Advisor Teams
Advisor Team Model The advisor team model remains a growing trend in the investment services industry. According to Cerulli Associates 2018 Advisor Metrics study, more than half (54%) of all advisors operate in a team structure. Merrill Lynch is leading this trend...
How Audit Ready Is Your Incentive Compensation Program?
Audit Ready Incentive Compensation The increasing cost of compliance and oversight – in time and money – is something investment services firms face every day. From internal audits that scrutinize our processes to regulatory bodies like FINRA and the SEC that scour...
How to Leverage Revenue Tracking Data to Drive Growth
Effective Revenue Tracking Revenue tracking and reporting tools help monitor and measure the performance of the entire sales organization, from lead to booked revenue. Investment services firms can leverage revenue tracking data to optimize business strategy and drive...
Key Factors to Consider When Evaluating a Financial Technology System
Implementing a Financial Technology System A frequent topic of conversation we have with investment services firms is the importance of implementing a financial technology system. As firms grow, they soon realize that manual processes and managing disparate data...
Tips for Effective Investment Program Management
Bank Investment Programs Investment programs continue to provide tremendous value to the financial institution (bank or credit union). Studies have shown that households that own investments through their primary bank or credit union are among the most profitable for...
5 Ways To Attract and Retain Millennial Advisors
Millennial Advisors More than one-in-three American labor force participants (35%) are millennials, making them the largest generation in the U.S. labor force, according to a Pew Research Center analysis of U.S. Census Bureau data. Research shows that only about 25%...
Financial Asset Management Compliance
Asset Management Compliance One of our clients came to us with a problem; how to comply with FINRA's customer asset transmit rules for managed money and mutual funds. Our solution: an asset management workflow for tracking, monitoring, and reporting on the location...
5 Reasons Why You Should Reassess Your Dependency on Spreadsheets
Spreadsheet Dependency Dependency on spreadsheets exposes an investment services firm to risk, especially when they rely on spreadsheets for their business-critical functions (such as managing their incentive compensation program). If spreadsheets play an integral...
How to Decrease Operational Risk with Incentive Compensation Management Technology
Operational Risk It's important to understand the operational risks caused by manual processes used within your incentive compensation procedures. Managing and leading an investment services firm is an enormous responsibility. Top challenges include: Growing the...
Interactive Data Chart Compares Financial Advisor Payout Rates
Our free interactive data chart shows the percentage of revenue that advisors make at different production levels, based on data from the Kehrer Bielan 2018 Advisor Compensation Study. We’ve created this interactive data chart to help you pull valuable insights for...
Eliminate Shadow Accounting with Incentive Compensation Management
How much time does your advisor team waste on shadow accounting? In the world of incentive compensation, shadow accounting is the process in which a salesperson tracks their production separately, creating and maintaining a parallel record so that they can...
How to Prevent Single Points of Failure In Your Incentive Compensation Program
Single Points of Failure Do any of these sound familiar? “We better not lose John, or we won’t be able to pay our advisors for weeks.” “No one can cover for Jane, and no one wants to learn pivot tables.” “John plans his vacation around month-end closing.” If so, then...
3 Reasons Investment Services Firms Should Outsource Technology
In-house Vs. Outsourcing Like many businesses, investment services firms frequently debate building technology in-house vs. outsourcing. There are hidden costs and challenges with building in-house systems. An infrastructure in which systems can talk to each other and...
Key Trends in Advisor Compensation Planning
As need for new talent grows more competitive, investment firms need to keep up with financial advisor compensation trends. The need to remain competitive is important for numerous reasons, but perhaps one of the most critical reasons is due to the growing talent...
4 Ways to Improve Your Firm’s Month-end Close Process
Improving the Monthly Closing Process The month-end close process for broker-dealers is anything but simple. Intricate commissions and incentive compensation plans, plus regulatory oversight add to the already complicated, tedious process. Poorly executed procedures...