New Regulatory Action Program Launched for Financial Services Industry
NEW YORK, Dec. 7, 2010 /PRNewswire/ -- Set against a backdrop of investor skepticism, shaken confidence and massive regulatory reforms, the Carpenter Group and DALBAR, Inc. have joined forces to launch the Regulatory Action Program (RAP), designed to help financial services companies anticipate change and adapt strategically in the new regulatory environment.
"The financial services industry is in the midst of fundamental transformation," said Bruce Long, Managing Director, Carpenter Group. "Investment professionals and product providers are being forced to take responsibility for their client's actions in a march to a fiduciary standard of care. Existing investment products are on their way to the graveyard, while new regulations are adding such a burden that the traditional product and distribution arrangements are buckling under the cost-cutting pressures.
"As a result," Long continued, "firms without an immediate understanding of the changes, the impact on their business and a plan for corrective actions, may suffer negative effects including lost revenue and greater liability exposure. Firms that recognize the significance of how legislative, regulatory and market changes impact their business are the ones who can gain a competitive advantage and position themselves to thrive."
The RAP program offers investment-related distributors and product providers — who seek to gain a competitive edge — with business counsel, advisor training, and brand messaging and communications.
For more than three decades, Carpenter Group has helped financial services organizations grow their businesses and improve profitability through objective business advice, branding and marketing solutions, and creative services.
DALBAR, Inc., the nation's leading market research firm focusing on insurance and investment companies, continues its three-decade commitment to raising the standards of excellence in the industry.
CONTACT: |
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For more information please contact: |
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Bruce Long — [email protected] |
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Sabrina Gibbs — [email protected] |
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(212) 431-6666 |
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SOURCE Carpenter Group
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