Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the U.S. Senate has confirmed Paul Atkins to be the next Chair of the Securities and Exchange Commission (SEC). In terms of enforcement actions, Atkins is expected to prioritize instances of investor harm and be less inclined to issue sanctions for technical rule violations (which were more frequent under previous SEC Chair Gary Gensler). In addition, Atkins’ arrival could also mean the end of the pending RIA outsourcing and custody rules proposed under Gensler, a reduced focus on monitoring advisors’ off-channel communications, and a new regulatory framework for digital assets.
Also in industry news this week:
NASAA this week approved model rule amendments that would restrict the use of the titles “advisor” and “adviser” by broker-dealers (and their registered representatives) who are not also dually registered as investment advisers, which, if adopted by state regulators, would largely bring state rules on this issue in line with the Federal Regulation Best Interest
The SEC is reviewing the current $100 million asset threshold for registering with the regulator (rather than at the state level) with the potential to increase it (bringing more RIAs under state purview) as the number and size of RIAs has risen since the threshold was last lifted more than a decade ago
From there, we have several articles on managing market turmoil:
How having a written investment plan, leveraging automations, and being diversified across assets and strategies can help clients weather chaotic markets
A ranking of 10 sources of emergency cash, from liquid savings and low-risk taxable assets to margin loans and credit cards
How financial advisors can help clients feel like they are taking (constructive) action amidst a rapidly changing market environment
We also have a number of articles on client communication:
Why “compassionate objectivity” could be a better option than empathy to allow advisors to connect with nervous clients without risking their own mental health
How affirmations can help hesitant prospects and clients overcome the fear of being judged by their advisor and move them toward action
A list of questions advisors can use to foster understanding with clients (rather than simple agreement)
We wrap up with three final articles, all about ways to reduce stress:
Actions both firms and advisors can take to prevent burnout during stressful periods
Why stepping away from the desk for unqualified relaxation can ultimately lead to higher productivity
The value of “de-prioritizing” in order to focus on to-do list items that are truly important and time-sensitive
Enjoy the ‘light’ reading!
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