Results for "fiduciary"

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DOL fiduciary rule spurred IRA rollover improvements, state regulators say ​

April 25, 2018

Broker-dealers are helping investors make better retirement decisions as a result of procedural changes firms have made in preparation for the DOL fiduciary rule, according to a study done by state regulators on the Individual Retirement Account...

Labor Department says ESG investments aren't always `prudent'

April 24, 2018

The Trump administration unveiled guidance aimed at the burgeoning socially responsible investment industry that left some investors scratching their heads. The Department of Labor, which oversees retirement-plan funds, published guidelines...

Ameriprise CEO James Cracchiolo welcomes new SEC advice rule

April 24, 2018

Ameriprise Financial Inc. CEO James Cracchiolo on Tuesday welcomed the Securities and Exchange Commission's new investment advice rule. During a conference call with analysts, Mr. Cracchiolo was asked his reaction to the SEC's announcement last...

5 key questions about the SEC's proposed 'best interest' standard

April 23, 2018

Last week, the Securities and Exchange Commission proposed a new "best-interest" standard for brokers. At a high level, the strictures — laid out in hundreds of pages of text — are designed to root out sales practices that investor advocates...

SEC advice rule may give RIAs leg up over broker-dealers

April 20, 2018

The Securities and Exchange Commission's advice rule proposal released earlier this week could give advisers working in the registered investment advisory channel a leg up over brokers. The SEC released a nearly 1,000-page, three-part proposal...

SEC advice rule raises bar for brokers by putting 'best interest' on table

April 19, 2018

A Securities and Exchange Commission proposal to curb conflicts of interest for brokers comes with compliance requirements that give the regulation teeth, according to securities lawyers. In a 4-1 vote Wednesday, the SEC advanced a package of...

Brokers accept proposed SEC rule on who can call themselves an adviser

April 19, 2018

Even though the Securities and Exchange Commission's new proposed advice rules could require them to make changes in the way they do business, some brokers acknowledged that the regulations are needed to clear up investor confusion about the...

SEC advice rule: Here's what you need to know

April 19, 2018

The Securities and Exchange Commission has officially proposed its investment-advice rule, the first step in a long regulatory process that could fundamentally change the way broker-dealers and their representatives do business. The proposal,...

SEC advice rule: Industry groups brace for debate

April 18, 2018

Financial services industry groups scrambled on Wednesday afternoon to get out ahead of and then respond to the SEC's proposed advice rule, which is designed to lay the foundation for upgraded financial advice standards. As the Securities and...

SEC advice rule hearing updates

April 18, 2018

The following is a string of dispatches from the SEC hearing on standards of conduct for financial advisers. Check back regularly for the latest updates. 5:30 p.m. ET: SEC VOTES 4-1 TO PROPOSE RULE, WHICH COMMISSIONER PEIRCE CALLS 'SUITABILITY-PLUS'...

SEC advice rule seeks to tighten reins on brokers

April 18, 2018

The Securities and Exchange Commission appears to be cracking down on broker conduct in its investment-advice overhaul by pushing for a best-interest standard that compels brokers to put clients' financial interests ahead of their own, requires...

SEC advice proposal unveiling: Here's what to expect

April 17, 2018

After many years of study and internal debate, the Securities and Exchange Commission is set to make a momentous advance Wednesday in setting investment advice standards. The five-member SEC is scheduled to vote Wednesday afternoon on whether...

401(k) plan participants sue Home Depot over alleged fiduciary breaches

April 13, 2018

Two participants in Home Depot Inc.'s 401(k) plan have sued plan executives alleging that excessive fees and poor-performing investments represented a breach of their fiduciary duties under the Employee Retirement Income Security Act. The participants...

SEC to meet to consider advice-standards proposal

April 12, 2018

The Securities and and Exchange Commission next week will consider a proposal to establish a new investment-advice rule for brokers. The April 18 meeting will involve consideration of a three-part proposal, according to a notice posted on the...

Fidelity changing the way it charges for financial advice

April 12, 2018

Fidelity Investments is changing the way it charges wealth management customers for advice, based on the amount they have invested with the firm. The new fees begin in July for the more than 800,000 customers of the wealth unit. The charges...

Sneak peek at new SEC advice standard sparks hope, concern

April 12, 2018

The sneak peek the Securities and Exchange Commission has offered of its pending proposal on investment advice standards has sparked both hope and concern among investor advocates and industry representatives. In a notice posted on its website...

'Best interests' and 'fiduciary' aren't the same, so which will the SEC choose?

April 10, 2018

We're now into the second quarter of the year, and everyone involved in the debate over investment advice standards is eagerly awaiting the Securities and Exchange Commission's fiduciary rule proposal. Oops. Like Britney Spears, I did it again....

SEC orders PNC, Securities America, Geneos to pay $12 million to clients ​

April 6, 2018

The Securities and Exchange Commission has settled with PNC Investments, Securities America Advisors Inc., and Geneos Wealth Management Inc., over charges that the three breached their fiduciary duties to clients and generated millions of dollars...

DOL fiduciary rule sparks charges of reverse-churning

April 4, 2018

As more broker-dealers move clients from commission-based accounts to those that charge annual fees — in some cases as a way to insure they are complying with the Department of Labor's fiduciary rule — they may be in danger of exposing themselves...

What the 5th Circuit decision doesn't do

April 3, 2018

By now, you have probably heard about the decision by the 5th Circuit Court of Appeals. In a nutshell, it threw out the fiduciary rule and the prohibited transaction exemptions that accompanied the rule (including the best-interest contract...

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