Results for "fiduciary"

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Plan sponsor advocate pushes for exemption in DOL fiduciary rule

August 12, 2015

Advisers whose compensation does not vary based on the investments they recommend for retirement plans should be carved out of a Labor Department proposal to raise advice standards, an advocate said Wednesday. Marcy Supovitz, president-elect...

While DOL hearings stay civil, Twitter gets rowdy

August 11, 2015

The second day of the Labor Department's four-day marathon of hearings is underway, and debate continues over its proposal to reduce conflicts of interest for brokers working with retirement accounts. As 75 opponents and proponents of the fiduciary...

Opponents to DOL fiduciary rule say tweaks aren't enough

August 10, 2015

Even after the Labor Department modifies its proposal to curb conflicts of interest for brokers working with retirement accounts, it may not be enough to satisfy opponents. In the first day of hearings on the rule at DOL headquarters in Washington...

SEC commissioner: DOL fiduciary rule would create 'a mess'

August 4, 2015

Securities and Exchange Commission member Daniel Gallagher Jr. warned Tuesday that a Labor Department proposal to reduce conflicts of interest for brokers working with retirement accounts would create “a mess” in the regulation of investment...

Labor Department's fiduciary proposal is unworkable

July 22, 2015

Since the Labor Department issued its revised proposal to expand the definition of “fiduciary” under ERISA to include any financial adviser who provides guidance to investors in retirement accounts, the Financial Services Institute has been...

BlackRock, Vanguard, Fidelity push back on DOL fiduciary

July 22, 2015

The world's largest money manager said the government's effort to protect retirement savers from excessive fees and unscrupulous brokers would favor index funds at the expense of other products investors should use. BlackRock Inc.'s views, outlined...

Perez says DOL fiduciary debate shifts from whether to how

July 21, 2015

Secretary of Labor Thomas Perez told lawmakers on Tuesday that the debate surrounding a proposal to raise investment-advice standards for retirement accounts has evolved from whether it's necessary to how to put the fiduciary measure into practice....

SIFMA's advice to DOL on the fiduciary rule: Start over

July 20, 2015

If a major industry trade group has its way, the Labor Department would rip up its proposal to raise investment advice standards for brokers working with retirement accounts and start over. In comment letters filed Monday about the DOL fiduciary...

Finra brands DOL fiduciary rule misguided, confusing

July 18, 2015

A Labor Department proposal designed to reduce conflicts of interest for brokers working with retirement accounts would create overlapping regulations that would baffle financial advisers and investors, Finra said Friday. The rule would require...

How to clarify the murky regulations governing IRA rollovers

July 16, 2015

July 21 marks the deadline for comments on the Department of Labor's proposed fiduciary rule. The DOL has indicated that it will be responsive to suggested rule changes that reduce regulatory burdens or provide practical advantages, so long...

7 reasons why financial stewardship is more valuable than a fiduciary standard

July 15, 2015

With the recent release of the Labor Department's re-proposed fiduciary definition, a lot of fiduciary advocates are concerned that “fiduciary” will become a de-minimus standard. It will become a floor, not a ceiling — a bronze, not a...

Fees from custodians fail smell test

July 12, 2015

The practice of registered investment advisers' collecting fees from custodians for recommending certain mutual funds to clients throws the raging fiduciary debate into a whole new light. As reported in InvestmentNews, more RIAs are quietly...

Should the Financial Planning Coalition support the DOL's fiduciary proposal?

July 1, 2015

The Financial Planning Coalition issued a statement on June 17 that it intends to support the Labor Department re-proposed fiduciary definition. If so, it will not be acting in the best interests of financial planners. (Click here to read the...

SEC Investor Advocate Fleming warns agency against diluting fiduciary standard

June 30, 2015

A Securities and Exchange Commission official whose job is to represent retail investors has warned the agency not to water down current investment-advice standards as it considers a rule to raise the bar for brokers. SEC Investor Advocate Rick...

Insurance industry wants DOL to telegraph changes to fiduciary

June 29, 2015

If an investor calls her broker today regarding holdings in her individual retirement account linked to Greece, the broker's answer could count as fiduciary advice under a proposed Department of Labor rule. “That's an example of the breadth...

Perez calls out variable annuities in argument for DOL fiduciary rule

June 24, 2015

When he goes to Capitol Hill and other venues to advocate for a rule that would raise investment-advice standards for retirement accounts, Labor Secretary Thomas Perez uses an anecdote that highlights the dangers of variable annuities. He tells...

DOL Secretary Perez touts Wealthfront as paragon of low-cost, fiduciary advice

June 19, 2015

In his effort to build support for a proposal to raise investment advice standards for retirement accounts, Department of Labor Secretary Thomas Perez often uses a prominent robo-adviser as a talking point. When he appeared at a June 17 congressional...

Perez assures lawmakers DOL will make fiduciary rule work

June 17, 2015

Secretary of Labor Thomas Perez assured lawmakers Wednesday that the agency is listening to concerns about a controversial investment advice proposal and will “make it work.” In an appearance before a subcommittee of the House Education...

DOL fiduciary rule in crosshairs of new spending bill

June 16, 2015

A House bill introduced Tuesday would stop a Labor Department proposal to change investment advice standards for retirement accounts. Under the House Appropriations Committee measure, DOL would not be able to spend any funds to finalize or implement...

Supreme Court decision in 401(k) case may have profound effect on fiduciary debate

June 12, 2015

If the kitchen wasn't full before, it is now. The U.S. Supreme Court just stirred up the fiduciary standard debate with its recent decision in Tibble v. Edison. For years, the Department of Labor and the Securities and Exchange Commission have...

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