Results for "fiduciary"

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Fiduciary rule every bit as necessary for brokers, according to report

January 16, 2018

For those who think a fiduciary-type rule is unnecessary, think again. The Wall Street Journal reported last week that "advisers at some of the biggest discount brokerage firms make more money if they steer clients toward more-expensive products."...

Busting DOL fiduciary rule myths of industry opponents

January 12, 2018

According to the opponents of a new rule designed to ensure that retirement savers get the best advice possible, the entrepreneurial mindset and innovative spirit that has powered the U.S. economy for decades is a thing of the past. They think...

Fiduciary groups urge SEC to prevent brokers from using 'adviser' title

January 12, 2018

Fiduciary advocates are urging the Securities and Exchange Commission to prohibit brokers from calling themselves "financial advisers," as the agency considers a regulation that would raise investment advice standards. One of the biggest sources...

Bill requiring fiduciary disclosure reintroduced in New Jersey

January 11, 2018

New Jersey state lawmakers introduced legislation this week that would require financial advisers to disclose their fiduciary status to investors. Under the measure, advisers who do not have to meet a fiduciary standard must tell clients in...

Court decision on DOL fiduciary rule expected in February

January 10, 2018

A major court decision could be released on a lawsuit over the Labor Department's fiduciary rule after the partying is over next month on the Bayou. Opponents and advocates of the regulation have been waiting for months for the Fifth Circuit...

Time for SEC to take fiduciary baton from DOL

January 2, 2018

With the core of the DOL fiduciary rule in place and the rest of it delayed for 18 months, can advisers expect all to be quiet on the fiduciary front in 2018? In a word, no. The regulatory baton has been passed from the DOL to the SEC and it's...

CapitalRock expands its fiduciary analyzer

January 10, 2018

One company is hoping technology will make it easier for advisers to determine if a retirement plan rollover meets the fiduciary standard. CapitalRock is expanding the functionality of its RightBRIDGE Product Profiler, which analyzes 401(k)...

What to expect on the regulatory front in 2018

January 2, 2018

The Securities and Exchange Commission enters 2018 with five members for the first time in more than two years. Now at full strength, the agency should be able to better pursue Chairman Jay Clayton's agenda, according to Karen Barr, president...

CFP Board touts revised standards in $80,000 Wall St. Journal ad

December 22, 2017

The Certified Financial Planner Board of Standards Inc. is spending nearly $80,000 to take out a full-page ad in the Wall Street Journal Friday to tout its revised advice standards. The new rules would require all CFPs, including brokers who...

New DOL, SEC officials help advance fiduciary rule work

December 22, 2017

Three new officials — one at the Labor Department and two at the Securities and Exchange Commission — will help the agencies advance their work on investment advice standards. Before leaving Washington for its holiday break on Thursday,...

CFP Board modifies details of revised standards but maintains strengthened fiduciary duty

December 20, 2017

The Certified Financial Planner Board of Standards Inc. released today a second round of revisions to its code of ethics and standards of conduct. It maintains higher advice standards for the credential but eases some disclosure requirements...

Silver lining in BDC fundraising figures

December 21, 2017

The figures are in and they're miserable. During the first three quarters of this year, BDCs raised just $624 million ($832 million annualized) versus $1.5 billion last year. Worse, capital formation is off from the 2014 peak of $5.5 billion,...

Assets in fiduciary accounts grow to 42% of total

December 28, 2017

Regardless of how regulators resolve the fiduciary issue, more client assets than ever are being held to a fiduciary standard, according to a report by Cerulli Associates. Almost $18 billion — or 42% of total client assets — were held in...

Industry opponents urge appeals court to rule on DOL fiduciary rule

December 11, 2017

Financial industry opponents of the Labor Department's fiduciary rule are urging an appeals court to rule on their case, despite the fact that major parts of the regulation won't be implemented until 2019. In a Dec. 8 letter to the U.S. Court...

Ask the Ethicist: Help the CFP Board improve its revised standards

December 27, 2017

On Dec. 20, the CFP Board released the second draft of its proposed revisions to the Standards of Professional Conduct. The first draft was released during the summer with a 60-day comment period. This latest version is open to comment from...

Day after DOL delay, SEC's Jay Clayton calls a fiduciary rule a priority

November 28, 2017

In light of the Department of Labor's decision Monday to delay the full implementation of the fiduciary rule for retirement accounts, the Securities and Exchange Commission will make a fiduciary standard for brokers a priority, according to...

Delay of DOL fiduciary rule enforcement mechanisms now final

November 27, 2017

The Department of Labor released a final rule Monday that would delay implementation of the enforcement mechanisms of its fiduciary duty regulation until the middle of 2019. The rule would postpone from Jan. 1, 2018, to July 1, 2019, the applicability...

Clarifying difference between advice, sales not as simple as it sounds

November 25, 2017

The long battle over investment advice standards can be traced to the different standards that apply when a broker sells a product to a client and then helps the same client manage his finances. The fiduciary rule that applies to investment...

CFP Board makes changes to proposed code of ethics, will seek more comments

November 15, 2017

The Certified Financial Planner Board of Standards Inc. has made changes to a revised code of ethics and standards for CFPs and will seek further comments before finalizing them, the group's chairman said on Wednesday. Earlier this summer, the...

DOL fiduciary: OMB receives rule providing for 18-month delay

November 2, 2017

The Labor Department has sent a final rule for an 18-month delay of its fiduciary regulation to the Office of Management and Budget for review. The OMB posted on its website Thursday morning a notice that it had received the delay language from...

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