Results for "fiduciary"

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Pension trade group believes DOL fiduciary rule is all but inevitable

October 19, 2015

Hundreds of retirement plan advisers are shifting their game plan as they descend on Capitol Hill this week. Instead of urging lawmakers to kill a Labor Department rule that would raise advice standards for 401(k)s and IRAs, they've accepted...

Sale of AIG Advisor Group may signal wave of mergers ahead

January 29, 2016

The sale of AIG Advisor Group earlier this week might be the first of a wave of mergers in the independent broker-dealer industry as a result of looming regulation from the Labor Department. American International Group Inc.'s CEO Peter Hancock...

IBDs trumped by Obama on DOL fiduciary, but vow to fight on

January 26, 2016

Thousands of motivated independent broker-dealers are an opposing force to the Labor Department's fiduciary rule, but they have met an immovable object: President Barack Obama.  That doesn't mean they're giving up on last-ditch efforts to upend...

Bipartisan backing to halt DOL fiduciary rule nowhere in sight

September 10, 2015

Members of Congress showed their stripes at a hearing in the House of Representatives on Thursday, with Democrats appearing willing to stand with the Obama administration on a controversial Labor Department regulation that would raise investment...

Plan sponsor advocate pushes for exemption in DOL fiduciary rule

August 12, 2015

Advisers whose compensation does not vary based on the investments they recommend for retirement plans should be carved out of a Labor Department proposal to raise advice standards, an advocate said Wednesday. Marcy Supovitz, president-elect...

DOL fiduciary rule in crosshairs of new spending bill

June 16, 2015

A House bill introduced Tuesday would stop a Labor Department proposal to change investment advice standards for retirement accounts. Under the House Appropriations Committee measure, DOL would not be able to spend any funds to finalize or implement...

Bill to stop DOL fiduciary rule poised to pass House today

October 27, 2015

[Update since the story published: The bill did pass the House on Tuesday on an almost party-line vote, 245-186, with only three Democrats voting for it and two Republicans voting against it.] Legislation that would block a Labor Department...

4 ways the Labor Department is about to rock our world

October 13, 2015

Every once in a while the government passes a regulation that completely alters the landscape. The new standards proposed by the Labor Department for ERISA participants and their advisers will have the biggest impact since the deregulation of...

Advisers form coalition to oppose DOL fiduciary rule

October 2, 2015

A group of financial advisers has launched an effort to stop a Labor Department proposal that would raise investment advice standards for brokers working with retirement accounts. The Coalition to Protect Retirement Security and Choice is comprised...

SEC commissioner: DOL fiduciary rule would create 'a mess'

August 4, 2015

Securities and Exchange Commission member Daniel Gallagher Jr. warned Tuesday that a Labor Department proposal to reduce conflicts of interest for brokers working with retirement accounts would create “a mess” in the regulation of investment...

DOL fiduciary rule class-actions costs could top $150M a year

February 9, 2017

Assuming the Department of Labor's fiduciary rule survives the river of legal and legislative challenges, the brokerage industry should expect to absorb between $70 million and $150 million annually in class-action litigation costs. The price-tag...

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...

Fees fell by as much as 10% last year in investment advisory services

September 23, 2016

Fees are tumbling in the investment advisory services industry, and the forces putting them under pressure aren't about to let up, according to a new survey. The Money Management Institute and Dover Financial Research conducted the survey in...

Morgan Stanley: DOL fiduciary rule turns brokerage business into a buy

September 28, 2016

Morgan Stanley believes the DOL rule is making the brokerage business a more interesting investment category. Something about a $22 trillion opportunity. “This opens up a larger addressable market than was possible in the past.” Would a...

DOL fiduciary rule expected to put new pressure on mutual fund expenses

September 23, 2016

The ripple effects of the Department of Labor's fiduciary rule is expected to put new pressure on mutual fund fees, and could even lead to fewer fund share classes, according to a report from S&P Global Market Intelligence. The DOL rule, which...

DOL fiduciary rule could cause half of potential IRA rollover assets to stay put: Report

September 8, 2016

Advisory firms banking on attracting loads of new assets from baby boomers rolling over 401(k) plans into individual retirement accounts may need to come up with a new plan for boosting AUM. The new Labor Department rule mandating that retirement...

RIAs are losing their competitive advantage

June 5, 2016

Registered investment advisers need a new card up their sleeve. For years, RIAs have marketed themselves as being a cut above their counterparts in the brokerage industry. While they followed a fiduciary standard, requiring them to act in their...

Wirehouses escape the worst of the DOL fiduciary rule

May 22, 2016

While many financial advisory firms have hunkered down, unwilling to talk about the impact of the disruptive Labor Department fiduciary rule, the wirehouses have sought to reassure their shareholders that the sky is not about to fall. Bank of...

Nontraded REIT sales fall off a cliff as industry struggles to adapt

July 24, 2016

Sales of nontraded real estate investment trusts, the high-commission alternative investments sold primarily by independent broker-dealers, have fallen off a cliff. Heading into 2016 facing a number of hurdles, namely a flurry of legal and regulatory...

Why the DOL fiduciary rule will lead to more ETF innovation

May 12, 2016

Everyone is talking about the U.S. Department of Labor's final fiduciary rule and related Best Interest Contract Exemption (BICE). Some like them, some really don't. It's still early, but the emerging consensus seems to be that much of the industry...

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