Bradley keen on post B-D rule era

The end of the broker-dealer exemption rule will create a great opportunity for registered investment advisers to build out their firms, said J. Thomas Bradley, president of TD Ameritrade Institutional, speaking in Chicago today.
MAY 04, 2007
By  Bloomberg
The end of the broker-dealer exemption rule will create a great opportunity for registered investment advisers to build out their firms, said J. Thomas Bradley, president of TD Ameritrade Institutional, speaking in Chicago today. The 2005 rule, which exempted brokerage firms that charge asset-based fees from investment advisory regulations under specified conditions, was overturned by the U.S. Court of Appeals for the District of Columbia Circuit in Washington, after it was challenged by the Denver-based Financial Planning Association. It is uncertain whether the Securities and Exchange Commission will appeal the court decision. “If the broker-dealer rule is ultimately shot down, these guys will have to wear two hats,” he said, noting that brokers will be focusing on giving advice and bringing in strong returns at the same time. The broker conflict issue can easily be resolved, said Mr. Bradley, by not letting investors work with advisers who act as both salesman and advice giver. TD Ameritrade Institutional is based in Jersey City, N.J.

Latest News

Judge OKs more than $90 million in settlement money for GWG investors
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs
Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs

Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.

Retirement uncertainty cuts across generations: Transamerica
Retirement uncertainty cuts across generations: Transamerica

National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.

Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future
Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future

While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.

Raymond James continues recruitment run with UBS, Morgan Stanley teams
Raymond James continues recruitment run with UBS, Morgan Stanley teams

A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave