Advisor News

Displaying 26692 results
Advisers should gird for higher compliance costs: RJ's Helck
PRACTICE MANAGEMENT OCT 21, 2011
Advisers should gird for higher compliance costs: RJ's Helck

Investment advisers should get set for higher compliance costs — as well as a self-regulatory organization, said Chet Helck, chief operating officer for Raymond James Financial Inc.

By Dan Jamieson
IRS warns weaker enforcement, slow service would follow cuts
RIA NEWS OCT 21, 2011
IRS warns weaker enforcement, slow service would follow cuts

IRS warns of “noticeable degradation” of taxpayer services and enforcement if Congress follows through on a plan to cut about $500 million from the agency's budget for fiscal 2012.

By Doug Cubberley
RIA NEWS OCT 21, 2011
State securities cops find more compliance violations

In their biennial tracking of the compliance violations of small investment advisers, state regulators have found a slight uptick in deficiencies per adviser, with about 45% of advisers found to have at least one books-and-records violation

By Liz Skinner
Court KOs Finra's fine-collecting
REGULATION AND LEGISLATION OCT 21, 2011
Court KOs Finra's fine-collecting

A U.S. Circuit Court of Appeals today ruled that the Financial Industry Regulatory Authority Inc. has no right to collect fines through court judgments

By Dan Jamieson
REGULATION AND LEGISLATION OCT 21, 2011
Due-diligence woes bite Capital Financial again

Broker-dealer agrees to pay $200K to settle Finra allegations it sold unsuitable private placements; SEC charges still pending

By Bruce Kelly
RETIREMENT PLANNING OCT 21, 2011
Phyllis Borzi discusses being a plan fiduciary

The following is an edited version of testimony given July 26 by Phyllis C. Borzi, assistant secretary of labor in charge of the Employee Benefits Security Administration, before the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions

By MFXFeeder
IRS dropped the ball on $3.2B in 'erroneous' tax credits: Treasury
RIA NEWS OCT 20, 2011
IRS dropped the ball on $3.2B in 'erroneous' tax credits: Treasury

A U.S. Treasury Department watchdog said 2.1 million taxpayers may have received “erroneous” education-related tax credits totaling about $3.2 billion.

By Doug Cubberley
Hatch urges Obama to drop plan to cap charitable deductions
RIA NEWS OCT 20, 2011
Hatch urges Obama to drop plan to cap charitable deductions

Utah Senator Orrin Hatch is urging the Obama administration to back away from a proposal to cap itemized deductions at 28%.

By Doug Cubberley
WIREHOUSES OCT 19, 2011
Wirehouse snapshot: Q3 2011

By mlanche
LIFE INSURANCE AND ANNUITIES OCT 19, 2011
Industry trade groups flex lobbying muscles

By Mark Schoeff Jr.
Thousands of wirehouse reps to be shown the door in next five years
WIREHOUSES OCT 18, 2011
Thousands of wirehouse reps to be shown the door in next five years

Management keen to boost productivity by thinning ranks; market share of four giants also dwindling

By Andrew Osterland
REGULATION AND LEGISLATION OCT 18, 2011
NAPFA fears fallout from probe of ex-chairman

The National Association of Personal Financial Advisors is worried that its reputation will be tarnished in light of a second high-profile investigation involving one of its former executives

By Darla Mercado
'Best short EVER!' ends up costing Citi $285M
REGULATION AND LEGISLATION OCT 18, 2011
'Best short EVER!' ends up costing Citi $285M

Bank settles allegations that its B-D sold pool of mortgages to clients — then bet against them

By Liz Skinner
FINTECH OCT 18, 2011
Unified wealth management platform announced by Fiserv

By Davis Janowski
REGULATION AND LEGISLATION OCT 18, 2011
Volcker rule could change bank profit dynamics

One unintended consequence of the long-awaited Volcker rule, which was mandated by Dodd-Frank and finally issued by U.S. regulators last week, may be increased pressure on the retail-wealth-management businesses of wirehouses to contribute more to overall profitability

By Andrew Osterland
Wall Street getting fed up with Washington's dithering on deficit
RETIREMENT PLANNING OCT 18, 2011
Wall Street getting fed up with Washington's dithering on deficit

Occupy Wall Street protesters are lashing out against what they see as a financial industry luxuriating in wealth created at the expense of the middle class. Wall Street, however, has its own grievances against Washington, which were on display last week.

By Mark Schoeff Jr.
REGULATION AND LEGISLATION OCT 18, 2011
Merrill advisers rebuffed on bias suit

The Supreme Court has refused to revive a bid to sue Bank of America Corp.'s Merrill Lynch unit for allegedly paying 700 black financial advisers less than their white counterparts

By Bloomberg
LIFE INSURANCE AND ANNUITIES OCT 18, 2011
Reynolds wants lifetime-income products policed

Bob Reynolds, chief executive of Putnam Investments, last week called for the establishment of a regulatory body to approve lifetime-income products

By Darla Mercado
Demonstrations point to growing cynicism among future investors
RETIREMENT PLANNING OCT 18, 2011
Demonstrations point to growing cynicism among future investors

Protesters in the Occupy Wall Street movement are giving financial advisers something else to worry about: a generation of leery, cynical investors

By Darla Mercado
Dems propose 5% tax on millionaires
RIA NEWS OCT 18, 2011
Dems propose 5% tax on millionaires

Levy would fund jobs bill; given GOP opposition, 5% rate also likely probability of passage

By John Goff