LONG-TERM PLANNERS EARN 40 PERCENT MORE
Planning experts who approach client relationships with a longer-term planning focus had three times the assets under management and reported 40 percent higher annual revenue than non-planners, according to a survey from the Partnership for Retirement Education and Planning. The planners earned an average of $590,000 in gross yearly revenue against $420,000 for the non-planners.
Approximately one third of the survey respondents operated under a combination of fees and commission, while nearly two thirds were commission-only. Only 4 percent of respondents ran a fee-only business model.
HARTFORD'S NEW 401(K) PROGRAM
The Hartford Financial Services Group has introduced an enhanced 401(k) retirement program called Aviator that is designed for small and midsized businesses. It is targeted at businesses with up to $10 million in retirement plan assets under management. The program has been tailored to include simplified pricing and underwriting, a free co-fiduciary service, and expanded investment choices with seven new fund families and no proprietary fund requirements.
WEAVER AND TIDWELL RECHRISTENS FINANCIAL UNIT
Weaver and Tidwell Financial Advisors Ltd., an affiliate of Texas-based CPA and business advisory firm accounting firm Weaver and Tidwell, has renamed its financial services Weaver Tidwell Wealth Management. The arm provides wealth management and financial planning services for high-net-worth individuals and executives. Dave Sego will continue in his post as managing director.
FORMER SEC CHIEF ACCOUNTANT TURNER JOINS LECG
Emeryville, Calif. - Lynn Turner, former chief accountant of the Securities and Exchange Commission, has a new job: senior advisor and managing director of the forensic accounting practice at LECG.
Turner, a prominent critic of mark-to-market accounting, is joining a firm that specializes in providing expert testimony in accounting and legal disputes, along with strategic and financial advisory services.
Turner is a noted authority on corporate governance, financial reporting and auditing standards. During his tenure at the SEC, from 1998 and 2001, he was a leading advocate of auditor independence rules and international accounting and auditing standards.
While at the SEC, Turner gained a reputation as a strong advocate for greater oversight rules. He began working there in 1989, and was instrumental in the issuance of the SEC Concept on International Accounting, which emphasized the need for high-quality financial reporting on a global basis and called for restructuring the International Accounting Standards Board. Prior to the SEC, Turner spent 20 years with Coopers & Lybrand (now PricewaterhouseCoopers).
He will work in LECG's San Francisco office. He joins LECG following five years with Kroll Zolfo Cooper's forensic accounting and litigation consulting practice, and later as managing director of research at Glass Lewis.
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