Transitioning your platform can be a vital component of making sure your firm is successful for many years to come. Managing your firm’s platform transition is a significant undertaking that will impact most areas of your business. Consistency of communication with your leadership, employees and vendors is just one part of a very complex process…. READ MORE
FINRA is currently seeking feedback on its Business Continuity Rule, including if firms have activated their business continuity plans and whether the costs of creating, maintaining or updating such a plan outweigh the benefits. Feedback is due April 26, 2019. What makes an effective Business Continuity Plan? An effective plan can create loyal customers by… READ MORE
Once you’ve completed your analysis and selected a clearing provider, it’s time to implement the broad communication component of your change management strategy to define how the decision will be delivered and received by your various teams. Your communication plan should consider all audiences (clients, vendors, sales force, home office, regulators). There are many appropriate… READ MORE
On March 19, 2019 the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 19-08, providing guidance on reporting operating lease assets and liabilities on their Focus reports. Background On October 23, 2018, the SEC issued a no action relief letter (the Letter) stating that, absent relief, the right-to-use asset would be a non-allowable asset in… READ MORE
In our previous blogs we discuss the things you should consider when deciding whether to change clearing platforms. Once you have assessed your needs and determined your firm’s direction around growth, recruiting and technology improvements, it’s time to begin the process of finding the best partner to help achieve your firm’s goals. Make sure you have projected your business needs far enough into the future (5, 10 or 15… READ MORE
Oyster Consulting Senior Consultant Bob Tuch recently contributed his article, “Conducting Effective Meetings with Investment Advisory Clients” to Practical Compliance & Risk Management for the Securities Industry, a Wolters Kluwer publication. Client meetings play an important role for financial services firms that provide investment advisory services to their clients. The initial meeting is extremely important for investment advisers because… READ MORE
Once you complete the preliminary work of analyzing your current business state as described in our previous blog, it’s time to make a decision. Maybe you have concluded that your current provider will not be able to support your growth plan, or they aren’t engaged in a way that makes financial and operational sense. Regardless,… READ MORE
