Assume you have gone through an arbitration, lost, and think you should appeal the decision. Rule 10330(b) of the NASD Code of Arbitration Procedure states: “Unless the applicable law directs otherwise, all awards rendered pursuant to this Code shall be deemed final and not subject to review or appeal.” You now have thirty days to pay the award, or file a petition to vacate the award.

Not to worry. The Federal Arbitration Act, 9 U.S. 10 provides for the vacation of arbitration awards under the following circumstances; (more…)

Renowned estate planning attorney Sally Mulhern knows her trusts and tax law. She could fill volumes discussing charitable lead and remainder trusts, QTIPs and ILIDs, –as well as EGTRRA – The Economic Growth and Tax Relief Reconciliation Act of 2001. But in Estate Planning to Die For, written for financial professionals, Mulhern explains that investment advisors don’t have to be acronym geeks to successfully navigate the waters of estate planning. She also argues the most important trust is that which exists between clients and members of their estate planning teams. (more…)

Think you’ve got reasonable excuses for not meeting your production goals? Bad markets. Bad leads. Bad branch office. Bad health. Bad time of year. Or the classic underachiever’s mantra, “I’ve already got enough clients. I can get by.” Think again. In Top Gun Prospecting for Financial Professionals, D. Scott Kimball dismisses any rationale for failure or mediocrity. (more…)

The securities industry continues to fall over itself to introduce securities whose aim is to capture market share by offering greater portfolio diversification. While no one is arguing against portfolio allocation as the key to successful investing, this explosive product trend brings as much redundancy as novelty to the ongoing portfolio optimization process.

Among the dozens of new means that one can enhance risk-adjusted performance through expanding market-sector exposure, there are several fund vehicles that present an opportunity for tactically managing portfolio risk to effectively enhance risk-adjusted returns. (more…)

Picture a crisp, clear spring day. You’re flying 633 mph at 22,000 feet, with your wingman two miles off and exactly ninety degrees to your right on a combat mission in southern Iraq’s no-fly zone. You’re both scanning for enemy aircraft, surface-to-air missiles (SAMS), and radar activity. Over half of your time is spent “checking six”—looking behind you and your wingman for unseen threats or movement. (more…)

We were told we were too young to start a brokerage firm, recounts Ian Scott, co-founder of Cedar Creek Securities. Started in Wisconsin in 2001 by Shawn Preisler and Ian Scott, who were 23 and 29 at the time, Cedar Creek had a lot to prove. But they set the bar even higher. Even with accelerating triple digit growth over the last two years, Ian and Shawn were driving towards another goal. They wanted to create a fun place to work. (more…)

Richard Bryant, founder of Capital Investment Companies, offered us his experienced and candid insight into the riggors of building his successful firm with his partner Bobby Edgerton.

How did you get into the business? My grandfather and father built Bryant Electric Supply from the ground up starting in 1922. When I graduated from North Carolina State University in Raleigh I went straight to Bryant Supply Company. I was ecstatic that I was finally there. However, when I got there something wasn’t quite right. (more…)

This is the big annual gathering for the techies in the securities industry, dominated by a huge, three-floor “Exhibit Hall” with more than 300 vendors eager to hawk their wares to the industry’s deep-pocketed buyers. The exhibitors included a number of big names – IBM, Oracle, Cisco, Sybase, Siemens and even Google – but there were also a lot of smaller, specialized niche players. (more…)

Why change a winning combination when it works so well? The Pershing Insite Conference was at the same venue and almost the same dates as last year and the results were predictable: excellent. There were more attendees (over 1,000) and more booths than before. The headline speaker was Colin Powell. In the words of an attendee, “Where are all the heroes these days? It was great to see Colin Powell up there.” In addition to Colin Powell’s rousing speech (followed by questions and answers), there were excellent speeches by Laura D’Andrea Tyson and Robert Doll. (more…)

In 1989, one of those “penny” stocks so common at the time sponsored my Series 7 license. After passing the exam, I spent three days listening in as experienced brokers made cold prospecting calls. At each advisor’s side was a copy of Jim Pickens’ and Ben Gay III’s, The Closer, now in its fifth edition (LJR Group/Hampton Books, 1980). For those unfamiliar with The Closer, it’s the classic, how-to sales text that promotes the same techniques demonstrated in “Boiler Room,” an intense film released in 2000 starring Giovanni Ribisi, Vin Diesel and Nia Long. (more…)