The wirehouse's advisers will lose trail commissions on all but grandfathered brokerage IRA accounts, but may not be hard-hit due to certain procedures to be implemented.
Steve Myatt joining the Waco, Texas office.
Huge fines against the likes of MetLife and Raymond James are putting the watchdog on a trajectory to beat its prior record by about 20%. <b><i>(More: <a href="http://www.investmentnews.com/article/20160503/FREE/160509980/metlife-to-pay-record-finra-fine-for-misleading-annuity-customers" target="_blank">So far this year Finra has levied four fines greater than $5M</a>)</b></i>
Three-person team produced $1.5 million in annual revenue
The supposedly new annuity type, as opposed to an immediate fixed annuity, would lock in a higher income in the event of a strong stock market.
Some firms are rethinking a shift to fee-based compensation and instead are sticking with commission structures that will trigger the need for best interest contract exemptions.
Plus: Forecasting a Trump victory, the reality of retirement healthcare costs, and getting your emails opened
The 401(k) ratings provider has been snapped up by an asset management data and research provider that's also the parent company of a publication for financial advisers.
Robo-adviser's assets under management trailing key competitors could have been a factor in Adam Nash's replacement as CEO, fintech experts say.
Deal combines two of the largest online brokerages and expands US operations of Canada's second-largest lender.
Acquisition of $12.3B social investment manager marks big step into the ESG market.
Also, with the exception of some metals funds, most funds don't own the actual commodity.
With bankruptcy case concluded, investors stand to recover $400 million.
Yet women and millennials want to buy funds with strong environmental, social responsibility and corporate governance components.
The ratings cover about 20,000 mutual funds which span a broad spectrum of both ESG-themed and traditional funds
Plus: Wells Fargo's woes continue, the scariest presidential election could get even scarier, and how to spend that extra hour this weekend
Ash Narayan's right to use CFP certification temporarily suspended following SEC complaint
Answers released last week give clarity on some issues, like fee-based advice and recruiting incentives, but are obscure on reasonable compensation.
