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Finra Sets Up Helpline to Support Small Firms


Finra has launched a helpline aimed at enhancing its support for small firms. CEO Robert Cook said the helpline “will make it faster and easier for small firms to get answers, and will free up other critical FINRA resources to help firms with more substantive matters …” An article at ThinkAdvisor provides more details on the helpline. See the link below. Also, one of your top planning priorities should be to make sure all of your clients have a signed power of attorney document. Katya Sverdlov, in a post at the CFA Institute’s Enterprising Investor blog, explains that “without a POA, no one is permitted to manage your client’s financial and legal affairs.” She outlines some key considerations regarding the document, including the importance of selecting a trustworthy agent. See her full column below.

FINRA Launches Helpline for Small Firms

By Melanie Waddell

Source: ThinkAdvisor

The Financial Industry Regulatory Authority said Monday that it has launched a Small Firm Helpline as part of the self-regulator’s continuing efforts to enhance its support for small firms. Approximately 3,400 small firms are registered with FINRA, employing 150 or fewer registered representatives. The toll-free helpline, staffed by FINRA employees, will operate 9 a.m. to 5 p.m. eastern standard time and was created under the FINRA360 organizational review launched by FINRA CEO Robert Cook in 2017.



Power of Attorney: What Every Financial Adviser Should Know

By Katya Sverdlov, CFA, JD

Source: CFA Institute’s Enterprising Investor blog

The most important financial document your clients can sign is a power of attorney (POA). The POA can provide security and continuity to investments and other financial affairs and is thus a powerful and versatile instrument that everyone should have. Unfortunately, by the time your client may need one, it is often too late to begin the process to create it.