Intelligence



The Flash Blog

GDPR is Here. Now!

Wednesday, May 30 2018

Ross Leo This much is certain:  GDPR will have both immediate and far-reaching impact on European customer relations.  The question is:  what are you doing about it? GDPR compliance is not an option:  if you do business with persons in the EU, it is mandatory.  Every US business, no matter what size, no matter what . . . Read More

Is the Approach to Vendor Management Too Limited?

Wednesday, May 30 2018

Vendor due diligence is an added burden on retail wealth firms, but it is also a meaningful opportunity. Today, for the majority of retail wealth firms’ vendor due diligence, it’s about filling out a checklist, and then putting the supporting documentation into storage. Yes, making sure the checklist is filled out is a must-do. Regulators . . . Read More

The Compliance Roundtable – Austin, TX: Top Ten Take-A-Ways

Tuesday, March 6 2018

Top Ten Take-A-Ways Vendor governance and 3rd party vendor due diligence is a significant challenge for wealth management firms. Firms are committing significant resources, with the goal of adhering to the FINRA Cyber Security Practices recommendations, NIST Cyber guidelines, and NYS Cyber Security Requirements. Adhering to the collective and growing set of requirements is a . . . Read More

DOL Fiduciary Standard: So What?

Friday, January 5 2018

Reality is a strange bedfellow. Last week, April 10th came and went and no fiduciary standard, but the run-up was certainly painful. We saw 18 stressful and hectic months where firms were dramatically changing their strategies, processes and technologies, and were, in short, stressed. Financial firms were spending vast sums of money on everything DOL. . . . Read More

Strategy & Technology: Re-Thinking the Post Fiduciary Business Environment

Friday, January 5 2018

The first in a series of blogs published by Beacon Strategies, LLC that look at the long-term trends within the wealth management industry that we believe need to be better understood from both a business and technology perspective. We all are still holding our collective breath in anticipation of the DOL Fiduciary rule change’s final outcome. . . . Read More

Top Ten Takeaways from April’s TechRetreat

Friday, January 5 2018

Most firms are moving forward with their plans to establish a best interest standard of care regardless of the outcome of the DOL rule change. These changes have most often included modifications to their compensation structure and product shelf, improved capabilities to document advisor recommendations and standard of care training.  There has been a universal experience . . . Read More

Providing Value in The Emerging Information-On-Demand Environment

Friday, January 5 2018

Beacon Wealth Management Megatrends One of the eight megatrends Beacon has identified as having the greatest impact on Wealth Management is the shift to an Information-On-Demand model; really, the instant fulfillment of information and transaction requests.   Led by millennials, investor behaviors are changing, pushing all financial institutions to provide the same immediacy, transparency, simplicity and . . . Read More