NAPFA's next chairman will fight Finra oversight

NAPFA's next chairman will fight Finra oversight
Rhoades named to succeed John; wants to keep fiduciary standard for investment advisers.
SEP 04, 2012
The National Association of Personal Financial Advisors (NAPFA) announced its election of Ron Rhoades as its next national chairman, to succeed current chairwoman Susan John. He will begin his term on Sept. 1. Mr. Rhoades is an attorney who has specialized in estate and tax planning for over 25 years. He is the owner of investment advisory firm ScholarFi Inc., in Alfred, New York. In a press release issued on Wednesday, Mr. Rhoades said one of his chief goals for the organization will be to oppose the effort by Finra to oversee registered investment advisers. He also will advocate for the continuation of the fiduciary standard of conduct for all providers of investment and financial advice, and to expand NAPFA's efforts for public outreach and educational offerings.

Latest News

Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.
Ameriprise, advisor on the hook to pay Edward Jones $4.7 million in trade secrets lawsuit.

In a constant fight over control of clients, the financial advice industry has a long history of such allegations and disputes.

Powering retirement for Wall Street
Powering retirement for Wall Street

Retirement fintech Vestwell has hit profitability and $200 million in annual recurring revenue, powering savings programs for 750,000 employers and Wall Street’s biggest firms

Advisor moves: LPL welcomes back RayJay advisor trio in Texas
Advisor moves: LPL welcomes back RayJay advisor trio in Texas

Meanwhile, &Partners has drawn another Wells Fargo team based in Missouri, while an experienced South Carolina advisor has returned to Cetera from LPL.

FINRA fines Vanguard $950,000 over decade of cost basis errors
FINRA fines Vanguard $950,000 over decade of cost basis errors

Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.

More ETFs, more opportunity, more homework
More ETFs, more opportunity, more homework

The democratization of ETFs cuts both ways

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains