The firm is eliminating potnential conflicts of interest before the DOL fiduciary rule take effect next year
Chairwoman Mary Jo White said a proposal for such exams has been circulated, but two other commissioners may be reluctant to act. <b><i>(More: <a href="//www.investmentnews.com/article/20161011/FREE/161019981/sec-sets-record-in-enforcement-actions-against-investment-advisers"" target=""_blank"" rel="noopener noreferrer">SEC sets record in enforcement actions against investment advisers</a>)</b></i>
One year after the Bipartisan Budget Act of 2015 was signed into law on Nov. 2, advisers and clients still brushing up on new rules.
The broader brokerage industry grappled with a number of significant regulatory and market changes in the third quarter.
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
Fidelity launches program to help planners gauge the experience prospects are having in order to learn what works in landing a client &mdash; and what to avoid.
Experts at Insider's Forum in San Diego also questioned the generally sluggish pace of robo adoption across the advice industry.
Investors seeking to align values and money turn out to be great advisory customers.
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.
Labor Department lays out guidance on questionable compensation practices for brokers &mdash; and RIAs. <b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">The most up-to-date information on the DOL fiduciary rule</a>)</i></b>
Twenty-four teams left in third quarter on top of 26 in second quarter. <b><i>(More: <a href="http://data.investmentnews.com/aotm" target="_blank">See all the latest moves in InvestmentNews' Advisers on the Move database</a>)</i></b>
The Michigan-based advisers were affiliated with LPL for more than 15 years.
Data aggregation &mdash; and knowing what's on both sides of a client's balance sheet &mdash; is key to meeting new requirements.
Software could help with recognizing and planning around clients' loss of cognitive function.
Plus: How Clinton and Trump won't save Social Security, more scrutiny for sales charges, and taking the 5% challenge.
The firm and owner Marc Broidy, of Beverly Hills, Calif., allegedly had more than $1.4 million of ill-gotten gains.
By paying for things they absolutely need with income sources that won't run out, clients can enjoy the best treat of all: peace of mind in retirement.
Agency answers 34 adviser questions pertaining to the regulation's exemptions, including the best-interest contract exemption. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The most up-to-date information on the DOL fiduciary rule</a>)</i></b>
