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New book offers advice on how to navigate the post-DOL rule world
Forty industry leaders offer insights in crowd-sourced guide.
Commonwealth Financial eliminates commission-based retirement products in wake of DOL rule
Commonwealth Financial Network late Monday said it would stop offering commission-based products in IRAs and qualified retirement plans, making it the latest BD to move more decidedly toward to an advisory platform to avoid what some see as the more onerous provisions of the Labor Department's fiduciary rule.
Some firms opting to sell fixed annuities under best-interest contract exemption to keep trips, bonuses intact
While financial institutions are able to sell deferred-income and immediate annuities under a less onerous exemption, some are opting to sell under BICE to keep certain compensation arrangements intact.
Advisers warming up to the DOL rule, see business opportunity: Fidelity poll
Nearly a third now say the rule can help expand their business, up from 17% in January. (More: A comprehensive, searchable database of advisers' fiduciary FAQs)
Get ready for more whistleblowers in the financial advice sector
The SEC and states like Indiana believe company insiders can provide better insights on fraud and wrongdoing than aggrieved investors can.
Barrage of Schwab ads to proclaim virtues of fiduciary advisers
Custodian's print and digital campaign will highlight RIAs' strengths and why investors should hire them.
Custodians tell fee-only advisers to find a new way to stand out after DOL fiduciary rule
Now that all retirement advice must be in a client's best interest, prospects are going to hear from every type of adviser that they act as fiduciaries.
Finra bans LPL broker for depositing client funds into own bank account
The Financial Industry Regulatory Authority Inc. has barred an LPL Financial broker for depositing client funds into his…
Advisers uncertain about future but Schwab exec urges them to embrace change
Markets and upcoming elections weigh heavily on their outlook.
First set of FAQs on fiduciary rule coming ‘very soon,’ but deadline extension ‘not likely’: DOL’s Borzi
'This first set of FAQs will focus on some of the questions that have been raised in connection with the exemptions,' Borzi said. (More: A comprehensive, searchable database of advisers' fiduciary FAQs)
Adviser compensation, rollovers most complex factors under DOL fiduciary rule
Determining adviser compensation under BICE is likely the "single most complicated thing" in the rule, according to attorney Fred Reish.
Wells Fargo claws back more than $1 million from broker claiming wrongful termination, Finra says
Eric Zakarin was also liable for $357,000 of Wells Fargo's attorneys' fees.
Investors want more government spending
Also, Wells Fargo's biggest non-performing asset is its board, Kansas clamps down on bad news, and the ruby slippers are saved.
Finra alleges former broker made unsuitable energy investments for elderly clients
Retirees lost $140,000 after Christopher Ariola unduly concentrated them in energy, gold.
Sen. Elizabeth Warren’s bogus charges against SEC’s Mary Jo White
Warren's charges could be motivated by political calculation rather than concern about investor protection or information.
Adviser groups boost political spending to gain Capitol Hill influence
At least four trade associations reached their highest levels of donations in this election cycle, the FEC reports.
How fintech aims to make DOL fiduciary rule manageable
Wealth of tools popping up to help with compliance, but will require proper adviser due diligence.
DOL fiduciary rule won’t help some 403(b) retirement plans
The plans in public school districts — often a "laissez-faire" type of arrangement exposing teachers to high-fee products — won't be helped by the new regulation.
SEC bars adviser for failing to disclose conflicts of interests in commodities fund
The regulator also ordered John Leo Valentine to pay $140,000 in civil money penalties
Patriarch Partners CEO Lynn Tilton’s bid to block asset sale rejected as she faces SEC fraud trial
Patriarch Partners Founder Lynn Tilton can’t block a planned sale of assets in one of her former investment…
