Advisor News

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Hundreds of pages of regulations amount to nothing until they’re enforced  
PRACTICE MANAGEMENT FEB 09, 2023
Hundreds of pages of regulations amount to nothing until they’re enforced  

We don't know how Reg BI or the CFP credential's fiduciary standard work in practice because there has been no substantial punishment for violating them.

By Mark Schoeff Jr.
IBDs used to keep their hands off clients. Not anymore
INDEPENDENT BROKER DEALERS FEB 09, 2023
IBDs used to keep their hands off clients. Not anymore

Giant financial services companies are starting 2023 with more moves to control and own the assets of financial advisors, rather than servicing them for a modest fee.

By Bruce Kelly
Super Bowl special: How to leave NFL tickets to heirs without getting sacked
RETIREMENT PLANNING FEB 08, 2023
Super Bowl special: How to leave NFL tickets to heirs without getting sacked

Passing down season tickets from generation to generation can get hairy. It’s often worthwhile to bring in an estate planner or attorney to make sure it’s a clean handoff.

By Gregg Greenberg
GOP seeks to open private markets; Democrats might be willing to talk  
ALTERNATIVES FEB 08, 2023
GOP seeks to open private markets; Democrats might be willing to talk  

A House subcommittee considers GOP measures that would amend accredited-investor rules. The ranking Democrat said 'fiduciary' advisors could help retail investors become sophisticated vicariously.

By Mark Schoeff Jr.
Centaurus hit with $1.1 million penalty over structured product sales
ALTERNATIVES FEB 08, 2023
Centaurus hit with $1.1 million penalty over structured product sales

The SEC said brokers in the firm's Lexington, South Carolina, branch office recommended variable interest rate structured products to dozens of retail customers for whom they weren't suitable.

By Bruce Kelly
Labor Secretary Marty Walsh expected to step down to take job as head of NHL players union
RETIREMENT PLANNING FEB 08, 2023
Labor Secretary Marty Walsh expected to step down to take job as head of NHL players union

When Walsh will officially step down has not yet been announced but Deputy Secretary Julie Su is expected to become acting head of the agency.

By Bloomberg
Rising rates, falling revenue will dramatically change RIA M&A activity in 2023
OPINION FEB 08, 2023
Rising rates, falling revenue will dramatically change RIA M&A activity in 2023

Look for independent broker-dealers flush with interest-rate revenue to emerge as credible threats to the mergers-and-acquisitions status quo.

By Neil Turner
SEC emphasizes probing marketing rule, Reg BI compliance
PRACTICE MANAGEMENT FEB 07, 2023
SEC emphasizes probing marketing rule, Reg BI compliance

The agency's other examination priorities for this year include RIAs who manage private funds, ESG investing and crypto.

By Mark Schoeff Jr.
5 ways for financial advisors to further their careers in 2023
OPINION FEB 07, 2023
5 ways for financial advisors to further their careers in 2023

Set aside time to take stock and focus your sights on what you want to achieve in the months ahead.

By Tim Gerend
Compassion comes full circle when giving makes you a better advisor
OPINION FEB 07, 2023
Compassion comes full circle when giving makes you a better advisor

When an advisor launched a nonprofit in his ancestral home of Ghana, he also learned how to better understand his clients

By Kobby Okum
Securities regulators warn of risks related to self-directed IRAs
RETIREMENT PLANNING FEB 07, 2023
Securities regulators warn of risks related to self-directed IRAs

The SEC, Finra and NASAA issue identical alerts telling retirement savers they're on their own if they open accounts that give them complete autonomy on the investment lineup.

By Mark Schoeff Jr.
Game changer or not, SECURE 2.0 529 rollover rule turns advisor heads
RETIREMENT PLANNING FEB 07, 2023
Game changer or not, SECURE 2.0 529 rollover rule turns advisor heads

Starting next year, beneficiaries of 529 plans that have been in place for 15 years or more will be able to move assets into a Roth IRA.

By Gregg Greenberg
OneDigital acquires Florida firm managing $500 million
RETIREMENT PLANNING FEB 07, 2023
OneDigital acquires Florida firm managing $500 million

Florida Pension Group, headquartered in St. Johns, provides retirement plan consulting and wealth management services.

By InvestmentNews
White House criticizes proposed GOP commission as 'death panel' for Social Security
RETIREMENT PLANNING FEB 07, 2023
White House criticizes proposed GOP commission as 'death panel' for Social Security

House Republicans had suggested negotiations on the debt limit could include an agreement to set up a commission to negotiate later changes to Social Security and Medicare to extend the programs' solvency.

By Bloomberg
Finra arbitrators order Credit Suisse to pay $1.3 million to former rep
WIREHOUSES FEB 06, 2023
Finra arbitrators order Credit Suisse to pay $1.3 million to former rep

The Swiss firm loses another dispute over deferred compensation related to the 2015 closure of its U.S. wealth management operation.

By Mark Schoeff Jr.
Retirement plan reviews: Ignore the noise and carry the tune
RETIREMENT PLANNING FEB 06, 2023
Retirement plan reviews: Ignore the noise and carry the tune

As plan sponsors and plan advisors do their annual reviews of company retirement plans, they’ll spend a significant chunk of their time and energy coming to terms with 2022 before seriously looking ahead to the opportunity that is 2023.

By Gregg Greenberg
Opposition to ESG might just be getting started
REGULATION AND LEGISLATION FEB 06, 2023
Opposition to ESG might just be getting started

Some politicians see it as part of a viable platform for the 2024 presidential election.

By Emile Hallez
Investors like ESG and want advisors’ help with it: Survey
RETIREMENT PLANNING FEB 06, 2023
Investors like ESG and want advisors’ help with it: Survey

Nearly 90% of investors surveyed said they would like advisors to help them with allocations

By Emile Hallez
United Advisor Group debuts as a new RIA aggregator
RIA NEWS FEB 06, 2023
United Advisor Group debuts as a new RIA aggregator

The independent registered investment advisor has partnered with Goldman Sachs Advisor Solutions for its custody services.

By Jeff Benjamin
Whose clients are they, anyway?
PRACTICE MANAGEMENT FEB 06, 2023
Whose clients are they, anyway?

Perhaps the reality is that neither firms nor advisors truly 'own' clients but rather are lessees of clients.

By InvestmentNews