Results for "fiduciary"

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The implications of the DOL retirement study for plan advisers

March 17, 2016

The government announcement seemed innocuous and fairly bland. On Feb. 29, the Department of Labor published one of those arcane agency notices in the Federal Register. The DOL was seeking public comment on a proposed multiyear series of household...

With DOL fiduciary rule looming, LPL cuts prices on model portfolios

March 16, 2016

Acknowledging the inevitability of the Department of Labor's new fiduciary standard rule, LPL Financial on Wednesday said it was cutting prices and easing minimums on some of its model wealth portfolios. LPL's moves include price cuts and lower...

Perez to lawmakers: I'll walk you through changes to DOL fiduciary rule

March 16, 2016

Labor Secretary Thomas Perez told lawmakers Wednesday the release of a final rule that would raise investment advice standards for retirement accounts was imminent. “We hope to bring it to conclusion … sometime in the near future,” Mr....

SEC nominee Peirce concerned about agency's lack of input on DOL fiduciary

March 15, 2016

One of the nominees to become an SEC commissioner expressed concern Tuesday that the agency has not had appropriate input into a Labor Department rule on investment advice. In a confirmation hearing before the Senate Banking Committee, Hester...

Fidelity study says half of RIAs foresee negative business impact due to DOL fiduciary rule

March 14, 2016

Half of registered investment advisers perceive there will a negative impact on their business as a result of a proposed Labor Department rule to raise investment-advice standards on retirement accounts, according to a new study conducted by...

The winners and losers of the DOL fiduciary rule

March 14, 2016

Advice industry experts weigh in on who stands to gain from the Labor Department's final fiduciary rule, as well as the areas of the industry due to suffer under the new regulation.

Advisers must brace for DOL fiduciary by ramping up technology plans

March 13, 2016

The Department of Labor's impending fiduciary rule has prompted advisers to review their strategic plans and weigh the expanded role technology will play in keeping advisory practices in compliance, as well as profitable. The DOL's fiduciary...

Regulators grapple with how a robo-adviser can be a fiduciary

March 10, 2016

Automated investment advice is not only roiling human practitioners, it's also posing a challenge to financial regulators. Advice rules were written before the advent of online advisers, SEC commissioner Kara Stein said Thursday. Now the agency...

Google searches for 'fiduciary duty' spike as pending DOL rule gets closer

March 9, 2016

It's only a matter of weeks until the proposed Department of Labor's fiduciary rule drops. Brokers and advisers are scrambling to understand what this legislation means for their businesses, but they're not the only ones looking for more information....

House Speaker Paul Ryan becomes leading opponent of DOL fiduciary rule

March 8, 2016

The war over a Labor Department proposal that would raise investment advice standards for retirement accounts is being waged from opposite sides of Pennsylvania Avenue. At the west end of the famous thoroughfare in Washington is the White House,...

Congress poised for its last stand against DOL fiduciary rule

March 6, 2016

Congress is poised to make a last stand against a Labor Department rule that would raise investment-advice standards for retirement accounts. The final DOL rule, which would require financial advisers to act in the best interests of their clients...

MetLife is second major insurer to exit the brokerage business, in the sale of adviser unit to MassMutual

February 29, 2016

A second major insurance company has decided to exit the brokerage business this year as MetLife Inc. announced Monday it is selling its U.S. adviser unit to Massachusetts Mutual Life Insurance Co. The sale includes the firm's Premier Client...

Perez tries to win over Democrats skeptical of DOL fiduciary rule

February 24, 2016

Labor Secretary Thomas Perez addressed a meeting of House Democrats on Wednesday to update them on progress of a pending rule that would raise investment advice standards for retirement accounts. But he hasn't yet won over some Democratic lawmakers...

Adviser Twitter fight erupts when Dave Ramsey bashes DOL fiduciary rule

February 23, 2016

One widely followed radio show host's opposition to the Labor Department's proposed rule to raise investment advice standards for retirement accounts sparked backlash from investment advisers on Monday. Dave Ramsey, the founder of Ramsey Solutions...

DOL fiduciary rule will transform the annuity industry

February 21, 2016

If the Labor Department has its way, say goodbye to the variable annuity industry as we know it. The department's pending fiduciary rule, if finalized in its proposed form, would have profound effects on variable annuities sold in retail retirement...

LPL eyes more fee-based variable annuities as fiduciary rule looms

February 12, 2016

LPL Financial anticipates more variable-annuity distribution on an advisory basis as one potential outcome of the Labor Department's proposed fiduciary rule. The independent broker-dealer has had a fee-based VA platform for several years, but...

Sen. Warren, Rep. Cummings accuse financial industry of crying wolf on DOL fiduciary

February 11, 2016

Wall Street critics in Congress are accusing the financial industry of talking out of both sides of its mouth when it comes to a pending Labor Department rule that would raise investment advice standards for retirement accounts. Sen. Elizabeth...

Adviser groups step up lobbying as DOL rule nears completion

February 4, 2016

A pending Labor Department regulation that would raise investment advice standards for retirement accounts has caused adviser interest groups to step up their spending on lobbying lawmakers. Last year, groups opposed to the rule invested more...

Legislative efforts to stop DOL fiduciary rule destined to fail, ERISA attorney says

February 4, 2016

A last-minute flurry of legislative efforts aimed at thwarting the Labor Department's controversial fiduciary rule are likely to fail — meaning implementation of a rule is a question of when, not if. Speaking before a room filled with financial...

Advisers need to bone up on DOL fiduciary

February 4, 2016

Independent financial advisers need to get up to speed on the DOL fiduciary rule, as well as other regulations that could affect them, said Skip Schweiss, managing director adviser advocacy and industry affairs for TD Ameritrade Institutional....

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