Late spring has brought buckets of rain and endless storms to different parts of the country. In Texas, we have been inundated. Plus, there’s been a steady stream of big industry news to cover — everything from Advisor Group’s sale to Reverence Capital Partners (see “Broker-Dealer Beat”) to the reported plan for Goldman Sachs to buy Joe Duran’s United Capital.
It’s also the peak conference season. After attending the Envestnet Advisor Summit with me in Austin (discussed in “Envestnet Technology: Build-a-Bear Meets Netflix” on page 2), Executive Managing Editor Ginger Szala rushed back to Chicago for the Morningstar Investment Conference, which she wrote about for this month’s “Industry Insights,” and for Carson Group’s Excell 2019 event. We’re now getting ready for Pershing Insite.
With this crowded schedule, I’m left wondering how to prioritize professional and personal tasks (and to schedule a needed vacation). Angie Herbers has lots of tips of this topic in this month’s “The Fast Track” column.
Mark Tibergien, in “Formulas for Success,” highlights the industry’s need to improve its diversity and inclusiveness, as well as what it can gain by tapping the tremendous resources of CFP programs at 100-plus colleges nationwide. I look forward to hearing more from Mark at BNY Mellon Pershing’s annual Insite conference, set for June 12–14 in Phoenix.
Jamie Green sheds light on the many innovations of James Budros and Peggy Ruhlin, along with their colleagues, in building RIA Budros, Ruhlin & Roe into a firm with over $2 billion in assets. The “Ahead of the Curve” column also describes how smart succession planning and a team-first approach can pay off for advisory firms.
In “Washington Watch,” DC Bureau Chief Melanie Waddell shares details on how top regulators are urging advisors and broker-dealers to keep focused on compliance while suggesting that chief compliance officers now feel that the full weight of regulatory rules rests on their shoulders. And in “The Playing Field” column, she explains the somewhat forgotten topic of the Labor Department’s fiduciary rules. “Exactly what form they’ll take remains unclear … ,” Waddell says.
Finally, we would like to thank the dozens of broker-dealers who help make our yearly Presidents Poll and BD Reference Guide possible. We know that firms and executives are asked to give information on their businesses and share opinions on industry topics all the time. By working with us to produce this interesting and helpful content, they do a great service to readers, advisors and firms across wealth management. We hope you have time to read about what keeps BD leaders and advisors up at night and what keeps them upbeat about the road ahead.