Archive for February, 2015

.@HDelux to @CNBC: Investors Need to Know Who is Controlling Their Financial Fate

Thursday, February 26th, 2015

Brian Hamburger offers his commentary on the recent push for a DOL fiduciary proposal.

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Can We Stop With the Term, “Financial Advisor”?

Wednesday, February 25th, 2015

Brian Hamburger (@HDelux) spoke with @Megan_Leonhardt at @wealth_mgmt about President Obama casting such a wide net upon “financial advisers”:

“I’m not quite clear where in that speech real investment advisors were represented and that’s a shame,” said Brian Hamburger, president and CEO of MarketCounsel. “The unfortunate part is the only thing the would-be retirees are going to hear are the President’s comments and with very broad strokes, in that speech, the financial advice industry was not represented at all with regards to investment advisors.”

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Pushback and Applause for Obama’s Fiduciary Comments

Tuesday, February 24th, 2015

@plansponsor interviews Brian Hamburger (@hdelux) in response to President Obama’s Fiduciary remarks.

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Obama Backs New Rules for Brokers on Retirement Accounts

Tuesday, February 24th, 2015

Brian Hamburger (@hdelux) spoke with @WSJ.

Advisers operating to a fiduciary standard generally must spend more time talking with clients to ascertain the best advice to give them.

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Is fiduciary a done deal for the DOL? Not so fast says @hdelux

Tuesday, February 24th, 2015

@newsfromIN reports that Brian Hamburger is skeptical that, despite the push by President Obama, that the Department of Labor’s re-proposal is destined to succeed.

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MarketCounsel joins @DynastyFP in welcoming Mosaic Family Wealth to independence

Monday, February 23rd, 2015

cc: @Fidelity4RIAs

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Private Industry Converging on Fiduciary Solution Ahead of Regulators

Wednesday, February 18th, 2015

@FiduciaryNews publishes exclusive interview with Brian Hamburger @HDelux.

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Amidst Proliferation of Alts, Some RIAs Remain Cautious

Wednesday, February 18th, 2015

@DanBernstein discusses the uptake of alternative investments by RIAs with @NewsfromIN.

Dan Bernstein, a director of research and development at compliance consultant MarketCounsel, said RIAs need to have a higher level of caution on some alternatives products because the diversity of offerings requires greater due diligence.  “You can’t just say, ‘I’m going to start using alternatives,’” he said. “There might be leveraged products and there are a lot of things that fall into the umbrella of an alternative. You need to look at what those funds are really doing.”

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Taking Your LinkedIn Client Contacts to a Rival Firm

Tuesday, February 17th, 2015

Sharron Ash (@SAshEsq) discusses this popular issue with @WSJ:

Advisers typically are restricted in terms of the client account information they can take with them to a new firm.  However, to prevent advisers from retaining their LinkedIn connections or other such social-network contacts with clients, firms would likely have to have a clear-cut policy prohibiting it, lawyers say. Most firm don’t have such restrictions–at least not yet.

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Obama Signs Executive Order to Refocus on Cybersecurity

Tuesday, February 17th, 2015

Brian Hamburger (@HDelux) talks cybersecurity with @NewsfromIN and explains what Obama proposals mean for RIAs:

Such a step, not aimed at advisers but potentially consequential to client data because it touches the broad financial sector, could be worrisome, even though the president has said the information would be kept private, said Brian Hamburger, chief executive of MarketCounsel.  “People are skeptical with information sharing, and they should be asking questions,” he said.  Those questions include: “If I share information with a competitor, will he be able to publicize that my firm was hacked?” Mr. Hamburger said. Or, “Will notifications be used to illustrate vulnerabilities before I’ve been able to fortify system defenses?”

“We’ve entered into an era where advisers can’t easily claim to be helpless victims when it comes to viruses, malware and spyware, and consumers are suffering the ramifications,” Mr. Hamburger said. “Those with a responsibility to collect and maintain sensitive information have the obligation to safeguard that information.”

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