Virtue is a fitting concept to think about as we observe Ethics Awareness Month in March. Our industry spends much time promoting the concept of values but much less time on the concept of virtue. This is unfortunate because we need a clear understanding of the importance of virtue so that we can better live our values.
Advisors’ life work centers on helping others prepare for the future, so it’s surprising how often they fail to make a detailed succession plan of their own. It is, of course, difficult to picture client relationships, nurtured and grown for decades, being placed in the hands of someone else.
If your boss wants you to do something that doesn’t seem quite right, should you do it? And what happens if you don’t? There’s no correct answer, but here’s a hint. When the judge’s gavel bangs, and employees go to jail or get fired, it’s not usually the CEO who takes the fall.
Earlier this month, the Department of Justice charged six executives involved in Volkswagen’s emissions scandal, a move widely acknowledged as both rare and surprising. Even more surprising: the fact that VW pleaded guilty and will pay $4.3 billion in civil and criminal fines.
Over 400 professionals representing the Insurance and Financial Services industry will meet in Chicago, Illinois at the Westin Lombard Yorktown Center, October 19 - 21 for the 29th annual WIFS National Conference. Julie Ragatz will be a featured speaker.
The recent release of the Department of Labor (DOL) conflict of interest rule reinforces the importance of client education. Client education is crucially important because financial professionals’ legal and moral obligations center on the belief that clients have the right to determine which course of action is in their best interest.
An activist investor said on Wednesday it is “inevitable” that Wells Fargo & Co will face critical shareholder resolutions after the bank agreed to a $190 million settlement with regulators over fake consumer accounts.
Wells Fargo CEO John Stumpf will get grilled by the Senate Banking Committee next week about what the government has described as the bank’s “widespread illegal practice of secretly opening unauthorized deposit and credit card accounts” for customers.
According to the CFPB, Wells Fargo employees had been secretly creating unauthorized bank and credit card accounts — millions of them, without people’s knowledge or consent. The scandalous activity was widespread, and persisted for years.