Results for "Mark Schoeff Jr."

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No-SALT diet could be financially unhealthy for some clients

November 17, 2017

Financial advisers are bracing for a no- or low-SALT diet for their clients. The Senate tax-reform bill, which was approved by the Senate Finance Committee on Thursday night, would get rid of all state and local tax deductions to help pay for...

HSAs next cash cow for 401(k) plan advisers: expert

November 16, 2017

Financial advisers who manage a company's retirement plan should try to fill the same role for the firm's health savings accounts — a move that would position them to take part in one of the fastest growing areas of wealth management, an expert...

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...

Experts upbeat on stock market, economy in the year ahead

November 15, 2017

Strong global economic growth could propel the U.S. stock market to even greater heights, said Jeffrey Kleintop, the chief global investment strategist for Schwab. Each of the world's 45 major economies is expanding for the first time in a decade...

Schwab execs sound off on Bitcoin, HSAs and Morgan Stanley exit from broker protocol

November 15, 2017

Bitcoin may be quickly gaining popularity as an emerging investment, but it's more likely to be disrupted by governments than to be a disrupter itself, a Charles Schwab & Co. Inc. executive said on Wednesday. Since the beginning of the year,...

Borzi: Hard for Acosta to justify long DOL fiduciary rule delay

November 10, 2017

A former Obama administration official known as the architect of the Labor Department's fiduciary rule said Friday she doubts the agency's current leadership can justify the long implementation delay it is seeking. Phyllis Borzi, former assistant...

Tax reform: What advisers need to know about the Senate bill

November 9, 2017

Republican members of the Senate Finance Committee released their tax-reform bill on Thursday. Here are the highlights for financial advisers along with a comparison to the House bill, an amended version of which was approved on Thursday by...

How confusing are the fees brokers charge?

November 9, 2017

Financial advisers get itchy when talking about fees they charge clients. They tend to sweat a bit, looking down at the ground like it was littered with hundred dollar bills. In other words, fee chat makes some advisers uncomfortable. It's no...

Bills to bolster accredited investors, alternative investments gain momentum

November 9, 2017

Legislation that would deepen the pool of sophisticated investors who can participate in private securities offerings and expand the lending capability of business development companies is gaining momentum in Congress. On Nov. 1, the House approved...

Clayton: SEC targets 'complex, hidden fees'

November 8, 2017

Securities and Exchange Commission Chairman Jay Clayton said on Wednesday the agency is targeting complex and hidden fees that can harm investors — both through enforcement and by clarifying disclosure requirements. In a speech at a Practising...

Finra reform getting traction in Washington

November 6, 2017

In a Washington dominated by partisan battles over health care and tax reform, something much lower profile but perhaps more important to brokers may be gaining momentum: Finra reform. The Financial Industry Regulatory Authority Inc., the industry-funded...

Judge grants injunction against DOL fiduciary rule in Thrivent lawsuit, halts case

November 6, 2017

A Minnesota federal judge has issued a preliminary injunction against the Labor Department's fiduciary rule, but also has granted a stay in the case. In a Nov. 3 decision, U.S. District Judge Susan Richard Nelson held that Thrivent Financial...

Tax reform: Advisers will have plenty to digest as legislation works its way through Congress

November 5, 2017

And we're off. The starting pistol has been fired in the race to get a tax-reform bill to President Donald J. Trump before the year ends. Financial advisers should keep a close eye on changes made to the proposed tax bill put forth last Thursday...

SEC Chairman Jay Clayton's quest to forge a fiduciary standard

November 4, 2017

In his first month as chairman of the Securities and Exchange Commission, Jay Clayton put the wheels in motion to formulate a uniform fiduciary standard for brokers and investment advisers, something that eluded his two direct predecessors and...

Jay Clayton plans to crack down on retail fraud, promote IPOs

November 4, 2017

SEC Chairman Jay Clayton has decided to tackle the perennially difficult issue of a fiduciary standard, but it's not his only concern. In speeches and congressional testimony, he has said that he is surprised by the amount of retail investor...

Finra: Morgan Stanley must pay Schwab $1.2 million over broker recruiting violation

November 3, 2017

A Finra arbitration panel awarded $1.2 million to Charles Schwab & Co. Inc. in a case against Morgan Stanley Smith Barney involving the recruitment of a Schwab broker. In a Nov. 2 award, the arbitrators found that Morgan Stanley violated the...

Regulators wave 8 red flags to ID financial abusers

November 2, 2017

State regulators outlined ways that financial advisers can spot potential abuse by guardians who are managing the finances of incapacitated clients. Guardians have a legal obligation to act in their client’s best interests. The guidance from...

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...

Tax reform: What advisers need to know about the House bill

November 2, 2017

Republican members of the House Ways and Means Committee released their long-awaited tax-reform bill on Thursday. Here are the highlights so far for financial advisers. Tax rates The plan would reduce the number of marginal income-tax rates...

Advisory firm owners unlikely to see windfall on tax returns from House bill

November 2, 2017

Financial advisers who own their own firms and pay their business taxes through their personal returns probably won't see a windfall from the House Republican tax proposal released on Thursday. Under the plan, small businesses that operate as...

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