Paul D. Stanley was dismissed for violating the firm's professional conduct, supervisory and compensation policies.
The regulation may not cause a flood of new referrals as non-specialists exit the 401(k) market. It might actually have the opposite effect.
Advisers must act in the best interest of clients and present them with all available retirement income offerings
Clients will be moved to self-directed accounts; bank may kill shift if DOL rule is dropped.
They face the challenge of asking for the order from the same judge who ruled against every claim in their lawsuit.
The award cited unsuitable investments made in energy and housing products.
Male advisers are three times more likely to go rogue, but women pay a higher price for their transgressions. (<i>More: </i><a href="//www.investmentnews.com/gallery/20170309/FREE/309009998/PH"" style=""color:#b10816"" target=""_blank"" rel="noopener noreferrer"><i><b>7 changes firms need to make to attract more female advisers</b></i>) </a>
We think advisers deserve better than the perpetual runaround.
The wirehouse said its advisory platform will be the go-to regardless of what happens with DOL fiduciary rule, but a modification or repeal of the regulation could lead to more flexibility.
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.
The memo grants relief to firms for compliance violations that may occur as the April implementation date approaches.
SEC says firm didn't report to customers conflicts or income it received from clearing broker.
Andy Sieg, the head of Merrill Lynch Wealth Management, said the firm may back off its wholesale scrapping of commissions in advised retirement accounts.
Mark Schklar fined $10,000 for selling private securities without prior notice.
Sen. Elizabeth Warren says investors are being taken advantage of by brokerage firms, citing a study that determined the industry failed to pay $62 million in claims in 2013.
Measure, passed by overwhelming House majority last year, gives brokers safe harbor for issuing reports.
Finra suspended Adam C. Smith for one year and imposed a $10,000 fine for accepting gifts totaling $105,000.
Small fund companies may have to pivot, by embracing a niche specialization or redirecting sales forces toward new distribution channels.
