Raymond James Has 'Zero Cross-Selling' Requirements: CEO
Raymond James CEO Paul Shoukry announced the firm has no mandatory cross‑selling requirements for its roughly 9,000 advisors. Advisors can collaborate with other business units but face no product‑sale quotas tied to compensation. The firm also offers a “financial‑advisor bill of rights,” allowing departing advisors to take their client lists without legal hurdles. Shoukry said this freedom makes Raymond James attractive compared with banks that pressure advisors to sell loans and deposits.
IRS Posts Form for Claiming New Tax Deductions
The IRS has issued a new Schedule 1‑A and updated instructions to implement the One Big Beautiful Bill Act tax breaks for 2025, covering tips, overtime, car‑loan interest, and senior‑citizen deductions. The tip deduction allows up to $25,000 per taxpayer, with a phase‑out beginning at...
DOL Moves to Undo Stricter Independence Test for Brokers
The Department of Labor has issued a proposal that would replace the Biden‑era “totality of the circumstances” test with a simpler “economic reality” test for determining independent‑contractor status. The change is aimed at easing the classification process for brokerage advisors,...
Private Markets in 401(k)s Face Major Liquidity Challenges: Morningstar
Morningstar’s new research shows that liquidity, not performance, is the primary obstacle for private‑equity and credit products in 401(k) plans. Simulations using real participant data reveal that even modest redemption flows can exhaust liquidity buffers, forcing managers to allocate up...
RBC's U.S. Wealth Unit Defies Inflow Slump with Asset Surge
Royal Bank of Canada’s U.S. wealth management unit posted a 12% year‑over‑year asset increase to $777.2 billion in its fiscal Q1 2026, despite net new inflows dropping more than half to $4.9 billion. The division added roughly $180 billion in assets over the...
To Jumpstart Centers of Influence Referrals, Think Outside the CPA
Financial advisors are urged to broaden referral networks beyond traditional CPAs and lawyers, embracing strategic alliances with diverse centers of influence. Mike Byrnes suggests using happy clients for warm introductions and targeting non‑traditional partners such as yacht dealers, realtors, clergy,...
6 Ways Family Offices Can Keep Cybercriminals at Bay
Cybercriminals are increasingly targeting high‑net‑worth individuals, exploiting the wealth of personal and financial data stored online. The FBI reports $16.6 billion lost to internet‑enabled crimes in 2024, highlighting the scale of the threat. Family offices, positioned as trusted advisors, can extend...
New Project Aims to Translate Client Reviews Into 'Relationship Alpha'
The University of Texas at Austin’s McCombs School launched a graduate capstone that applies natural language processing and machine learning to thousands of Wealthtender client reviews, creating a new metric called “relationship alpha.” The project, led by a half‑dozen analytics...
Inside the Programs Reshaping Financial Planning's Talent Pipeline
The Certified Financial Planner (CFP) Board is expanding its influence in higher education, with more than 360 registered programs and a 16% growth in offerings since 2020. Universities from Michigan State to Wisconsin‑Madison are launching minors, certificates, and even doctoral...
Games and Graphics Boost Client Engagement, Understanding
Financial advisors often struggle to convey intricate retirement rules. A recent working paper compared infographic‑style visual explanations with a gamified, scenario‑based tool, finding both improve client understanding, with infographics excelling at technical knowledge and games driving behavioral awareness. Participants receiving...
What AI Stock Selloffs May Be Getting Wrong in Wealth Management
Wealth‑management firms such as Ameriprise, LPL, Raymond James, Charles Schwab and Stifel posted record client‑asset levels while boosting net revenue 17% and pretax earnings 21% in 2025, according to Fitch. Despite recent AI‑related sell‑offs and broader macro volatility, the sector’s fundamentals remain...
Ask an Advisor: What Mistake Made You a Better Advisor?
The "Ask an Advisor" column gathers six seasoned financial planners who each recount a pivotal mistake that reshaped their practice—from undervaluing fees and missing non‑verbal client signals to dominating conversations, overpromising service, scrambling for quick answers, and trying to handle...