Eric Rasmussen

Colorado Springs

Senior Editor at Financial Advisor

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Articles

AI's Nasty Surprise For Advisors: A Huge Data Burden

3 weeks ago | fa-mag.com | Eric Rasmussen

Artificial intelligence could be a huge help to advisors if it isn’t already—for instance, it helps them take notes during client meetings and could free them from having to spend time typing and processing this information for customer relationship management programs. A three-hour job could turn into a 45 minute job, leaving your advisors free to take on more meetings (or get in a round of golf).
Alzheimer's: The Nightmare Advisors Can't Avoid

3 weeks ago | fa-mag.com | Eric Rasmussen

Alzheimer’s is an insidious disease, one that robs a person of their faculties slowly, erases pieces of them over time. It’s a disease that works slowly—until it works suddenly, when a patient’s capacity for making important decisions or recognizing relationships starts to quickly deteriorate. You might notice after a while that one of your clients is merely repeating themselves. But then they might insist they’ve had conversations with you that they haven’t.
Advisor Strategies For Clients With Alzheimer's

1 month ago | fa-mag.com | Eric Rasmussen

What if your client has recently received an Alzheimer’s diagnosis? If it’s caught early, there’s still time for them to make important decisions while the symptoms are mild (or even just waxing or waning).
Young Advisors To Watch In 2025

1 month ago | fa-mag.com | Eric Rasmussen

When Financial Advisor magazine ran its first “Young Advisors to Watch” list 10 years ago, you could already see that attitudes about this industry were changing. There were probably some veterans kicking around who remembered cold-calling dozens (or hundreds) of prospects from a brokerage firm in a skyscraper in the 1980s. But the younger people pushing up through the bottom of the industry by the 2010s had come to know their industry in a different way.
Ex-CEO Of FSC Loses $10M Arb Filing Against Osaic

2 months ago | fa-mag.com | Eric Rasmussen

Another disgruntled former executive at Osaic has popped up on the legal radar after a falling out with the firm. The former chief executive officer of FSC Securities Corp. this week failed to win a $10 million arbitration claim after he accused FSC and its owner, Osaic, of trying to steal his advisory business and interfering with his business’s advisors and employees.
Report Suggests More Clients Want You In Estate Planning

2 months ago | fa-mag.com | Eric Rasmussen

You know there are a lot of retirements coming, and that your clients are likely going to switch from thoughts of asset growth to thoughts of legacy or sustainable lifestyles (being able to live the way they do now without working). A new report suggests that estate planning of this type will have to be part of your service offering, and that advisors who don’t adapt could see clients walk away.
M&A Report Sees Rising Valuations For RIAs

2 months ago | fa-mag.com | Eric Rasmussen

The valuations for RIA firms went up last year, and smaller firms are getting more of a day in the sun, according to a new report from Advisor Growth Strategies, a Phoenix-based consulting firm for registered investment advisory pursuing M&A deals. The heavy deal volume has been partly driven by all the institutional money pouring into the space to pursue deals and seize on a fragmented market.
2025 Independent Broker-Dealer Review & Ranking: IBDs Go Big

2 months ago | fa-mag.com | Eric Rasmussen

In the future, will people have relationships with their financial advisors or with the advisors’ broker-dealers, custodians and other affiliated businesses? It’s an uncomfortable question. Clients rarely accept abrupt changes in their most intimate business relationships, whether it’s with a physician or a ward of their money. But they do accept change that happens gradually. Let’s say your longtime doctor or dentist is retiring.
Cambridge RIA To Pay $15M SEC Penalty Over Fund Fees

Mar 24, 2025 | fa-mag.com | Eric Rasmussen

The RIA subsidiary of Cambridge Investment Research, the Fairfield, Iowa-based broker-dealer, has agreed to pay $15 million in disgorgement and penalties after the Securities and Exchange Commission claimed the firm put clients in unnecessarily expensive mutual funds and wrap accounts that generated millions of dollars in revenue sharing for the broker-dealer mother ship.
Raymond James Beats Q1 Earnings Estimates

Jan 30, 2025 | fa-mag.com | Eric Rasmussen

Raymond James Financial reported beating earnings estimates for the first quarter of fiscal 2025, and record quarterly net revenues. But company executives also noted the loss of independent branch advisors and frustrations as deep-pocketed private equity firms scoop up advisors from the recruiting pool.