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Financial advisors need a succession plan to benefit clients and their own firm

Financial advisors need a succession plan to benefit clients and their own firm

Finance
kupicoo | E+ | Getty ImagesThe aging army of independent registered investment advisors who have spearheaded the growth of the financial planning profession need to follow their own advice when it comes to their businesses — for their clients' sake, as well as their own.With the average age of financial advisors somewhere in their mid-50s and a big bulge of advisors now in their 60s and 70s, the fate of thousands of practices and millions of clients in the next decade remains in doubt. Studies show that most small advisors — particularly solo practitioners — have no successor to fill their shoes, nor very good prospects for selling their business to someone else.The reality is, they probably never will."The No. 1 way that independent advisors exit the industry is through attrition," said
ED searches DHFL offices over exposure to firm having links with gangster Mirchi

ED searches DHFL offices over exposure to firm having links with gangster Mirchi

Finance
MUMBAI: The Enforcement Directorate (ED) Saturday carried out searches at the offices of Dewan Housing Finance Corporation Ltd (DHFL) and it associate firms in connection with the loans given by the NBFC to a real estate firm which is currently under scanner for its alleged dealing with late gangster Iqbal Memon alias Iqbal Mirchi. According to sources, searches are underway at eight locations including DHFL’s headquarters in suburban Mumbai. ET was the first to report on the loans given by DHFL to Sunblink Real Estate on Thursday. Responding to the report, DHFL in a statement attributed the quantum of its exposure to property company Sunblink, as an outcome of market consolidation that caused several loans to various companies to be bunched together and Sunblink listed as the borrower. “
Blizzard gamers complain they cannot boycott firm over China

Blizzard gamers complain they cannot boycott firm over China

Technology
Gamers are complaining they are unable to delete their Activision Blizzard accounts, as they attempt to show solidarity with an e-sports competitor.The US publisher caused controversy by placing a 12-month ban on a player who had voiced support for pro-democracy protests in Hong Kong on Sunday. Users say they get error messages when they try to erase their accounts. Some suggest it could be deliberate.But the firm has indicated a technical problem is to blame."There's an issue affecting the site which our engineers are currently addressing... it's a priority for us to have this resolved," one of its North America accounts tweeted.The BBC's request for a comment has not yet been answered.Some players in Europe have said they are able to cancel their profil...
British Airways parent firm issues profit warning on £121m strike hit

British Airways parent firm issues profit warning on £121m strike hit

Business
The parent firm of British Airways has issued a profit warning on the back of costly strikes at the airline and weaker bookings.International Airlines Group (IAG) said the 48-hour action by pilots earlier this month, which forced the airline to scrap almost all its flights over the two days, cost it an estimated €137m (£121m). It also pointed to a €33m (£29.2m) cost from further passenger disruption as a result of threatened strikes by staff at Heathrow Airport.

London keeps Uber on short license as it scrutinizes firm

Technology
London transport authorities have given ride-hailing firm Uber a two-month license with new safety conditions as it continues to scrutinize the company. Transport for London said Tuesday it issued the license to Uber firm as the U.S. tech company's 15-month license was set to expire. The authority said that over the next two months it will ask Uber for more information "to inform any future licensing decision." London transport officials had initially revoked Uber's license in 2017 but a court later granted the company a 15-month license, short of the five-year permit it had sought. Authorities had objected, among other things, to the company's failure to report serious criminal offenses and its use of technology to allegedly evade law enforcement officials.Let's block ads! (Why?) ABC Ne...