Results for "individual retirement accounts (IRAs)"

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IBDs overwhelmingly say Trump should revoke fiduciary rule: survey

November 29, 2016

Registered representatives of independent broker-dealers overwhelmingly believe president-elect Donald Trump should revoke the Labor Department's fiduciary rule, according to a survey conducted by the Financial Services Institute Inc., a trade...

The amazing vanishing DOL fiduciary rule?

November 21, 2016

When it comes to the Labor Department's new "investment advice" regulation, the first question on the table has to be: Will it survive this historic election? The answer: a definite “maybe not.” First and maybe foremost, let's talk possible...

Reversal on IRA-commission stance unlikely for Merrill if DOL fiduciary rule repealed

November 21, 2016

It's highly unlikely Merrill Lynch would reverse its position on scrapping IRA commissions if the Labor Department's fiduciary rule were to be repealed under Donald Trump's administration, according to industry-watchers. Marketing plays a large...

Advisers can't be passive when it comes to DOL rule's fiduciary principles

November 17, 2016

All professional advisers have a common mandate — to serve clients' best interests. This is a defining characteristic of what it means to be a professional in the classic sense of the word. With the advent of the best-interest contract exemption,...

Capital One will eliminate commissions on IRAs

November 16, 2016

Capital One Investing, the brokerage arm of Capital One Financial Corp., will be eliminating commissions on advised individual retirement accounts by next year. The company announced Wednesday that the advised IRAs will move to level-fee pricing...

Adviser's Consultant: Adding value with tax services

November 10, 2016

Staying competitive in the financial advice market requires professionals to provide a breadth of services beyond investments, and tax guidance is a natural fit, according to Michael Goodman, founder and president of Wealthstream Advisors. He...

Gradually converting a traditional IRA to a Roth can boost nest egg

November 10, 2016

The first wave of baby boomers who turned 70 ½ this year must start tapping their traditional retirement accounts soon and pay taxes on those required minimum distributions. For those first boomers who turn 70 ½ this year, who were born from...

Amid DOL fiduciary rule doom and gloom, some take opportunistic tack

November 4, 2016

Amid the outpouring of dour forecasts, grim analysis and outright confusion about the impact of the Labor Department's fiduciary rule among stakeholders in the financial services industry, some product providers see a silver lining. Executives...

New path for resolving late RIA rollovers

October 30, 2016

As advisers formulate year-end tax strategies, they should familiarize themselves with new rules put out by the IRS regarding late IRA rollovers. Nobody should ever have a late rollover if they can help it. Doing so risks incurring a 10% penalty...

DOL expects to issue final rule on city retirement programs by year end

October 26, 2016

The Labor Department expects to issue a final rule governing city retirement programs by the end of the year, according to Phyllis Borzi, assistant secretary of labor at the department's Employee Benefits Security Administration. The rule would...

First set of FAQs on fiduciary rule coming 'very soon,' but deadline extension 'not likely': DOL's Borzi

October 25, 2016

The Labor Department is poised to release its first wave of answers to frequently asked questions about its fiduciary rule “very soon,” Phyllis Borzi, assistant secretary of labor at the department's Employee Benefits Security Administration,...

Adviser compensation, rollovers most complex factors under DOL fiduciary rule

October 25, 2016

Determining adviser compensation and recommending rollovers from 401(k) plans present the greatest challenges for broker-dealers and their representatives under the Labor Department's fiduciary rule, according to Fred Reish, a partner at Drinker...

Commonwealth Financial eliminates commission-based retirement products in wake of DOL rule

October 24, 2016

Commonwealth Financial Network late Monday said it would stop offering commission-based products in IRAs and qualified retirement plans, making it the latest BD to move more decidedly toward to an advisory platform to avoid what some see as...

DOL fiduciary rule promotes a 'business form of skydiving'

October 20, 2016

The possibility of death always confronts skydiving thrill-seekers. Even with the most extreme degrees of caution — having top-notch equipment, ensuring for good weather — jumping out of a plane carries a certain level of risk. The Labor...

Some firms opting to sell fixed annuities under best-interest contract exemption to keep trips, bonuses intact

October 17, 2016

Some financial institutions are opting to sell certain types of fixed annuities under a stricter compliance regime of the Labor Department's fiduciary rule than is necessary, in order to continue to offer incentives such as bonuses and trips....

Answers to advisers' top questions on IRS' late IRA rollover relief

October 14, 2016

On Aug. 24, the Internal Revenue Service issued Revenue Procedure 2016-47, providing immediate relief for most late 60-day rollovers. Here are questions advisers are asking about the new rules: Question: Can the self-certification procedure...

How proposed caps could impact IRA and 401(k) accounts

October 14, 2016

For the past few years President Barack Obama's fiscal year budgets have included a variety of proposed changes to the retirement system in the United States. Both the 2016 and 2017 proposed fiscal budgets included a $3.4 million cap on retirement...

Merrill's move to end commission IRAs a 'tectonic shift' for brokerage industry

October 7, 2016

Merrill Lynch's decision to shutter its commission IRA business in response to the Labor Department's fiduciary rule could signal a sea change in the brokerage industry, and could push Merrill brokers reliant on commissions to find another home,...

Merrill Lynch eliminates commission IRA business in response to DOL fiduciary rule

October 6, 2016

In a signal of the radical change the brokerage industry is set to undergo because of the Labor Department's fiduciary rule, Merrill Lynch has announced it will no longer offer new, advised commission-based IRAs starting next year. For the wirehouse's...

IRS more lenient on 60-day rollover

September 25, 2016

"IRS to the rescue!” is not a phrase you hear too often, but that's exactly what happened for millions of people with retirement accounts. On Aug. 24, the IRS released Revenue Procedure 2016-47, which provides a new and cost-free way for clients...

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