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Resolving Nick Schorsch’s legal problems taking a long time
Criminal trial for an associate is slated to start in June, but little has been resolved on civil side.
Asking the SEC’s Michael Piwowar to reconsider who will end up the real ‘forgotten investors’
His proposal to allow more Americans to invest in private placements is fraught with risk, mostly to retirees who fall prey to brokers motivated to sell these deals by high commissions.
Adviser loses IRS fight, putting tax status for solo practitioners in question
In October, I wrote a column about a financial adviser who was squaring off…
3 questions independent broker-dealers should ask private equity product sponsors
While private equity could become a positive force in the retail alternatives space, not all sponsors are created equal.
Rogue brokers still pose danger to investors
Even with Finra's extra attention, countless numbers of rogue brokers are still employed in the securities industry.
And the Golden Bull goes to …
Not every adviser can be nominated for a Bully, just those who displayed a complete disconnect from their ethics in the course of impersonating a client or some big shot.
Cambridge’s Eric Schwartz looks into the future of independent broker-dealer industry
Predicts next market downturn will usher in new era of big broker-dealer mergers
LPL broker in battle with IRS over how he structures his business
Ruling could have implications for other advisers in independent broker-dealer channel.
Trump may kill DOL rule, but financial advice industry still needs fiduciary regulation
The DOL version may be cumbersome, but there are enough examples of bad behavior in the business to justify tightening regulatory standards.
Morgan Stanley sales contests among advisers didn’t help clients
Bonuses were tied to getting clients to open loan accounts, which went against the firm's internal prohibition on such initiatives. (Related read: Former Morgan Stanley broker barred for unauthorized borrowing from clients)
Brokerages walking away from arbitration awards
Finra has been unable to find a way to ensure investors get paid what they are owed.
REIT with a twist and a high commission is new darling of independent brokers-dealers
Preferred Apartment Communities Inc. is selling nontraded preferred shares to help fund its growth, giving brokers a 7% commission.
MetLife penalty puts spotlight on bad variable annuity switches
Bad VA switches were supposed to be a thing of the past, but the independent broker-dealer industry should take heed of this fine.
Will Franklin Square start a nontraded product price war with its cheaper BDC?
Forget 10%, the firm's new business development company has a hard cap on fees and commissions at 8.95% of gross offering proceeds.
Indicted broker a poster boy for industry critics like Sen. Elizabeth Warren
Anthony Diaz, under federal indictment for fraudulent sales of alternatives, embodies the criticisms of the likes of Sen. Elizabeth Warren.
Independent broker-dealer business model is an endangered species
In the new DOL fiduciary landscape, B-Ds can no longer be dependent on commissions.
Questions burn for shareholders after RCAP’s demise
How could a seemingly vibrant company fall apart so quickly and wind up heading to bankruptcy?
DOL fiduciary rule a big win for nontraded REITs
The agency's final reg will allow the asset class to be sold after all.
How advisers can protect their businesses from the onslaught of cheaper competitors
Time for advisers to double down on their 'you' advantage to fend off the rise of low-cost, tech-driven competition.
Boost in SEC examiners to enable closer scrutiny of RIAs
Senior columnist Bruce Kelly says the agency going after conflicts of interest means closer scrutiny of RIAs and their businesses.
