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The advisory world is moving toward a fiduciary standard with or without the DOL rule, financial technology firms contend.
Donald Lee Watson Jr. allegedly claimed he produced more than $700,000 in revenue when hired last year.
Largely ignored now, changes could make MEPs popular among retirement plan advisers.
Plus, the strategy can help reduce required minimum distributions and cut taxes.
Advisers will get loans to help cover earnings shortfall following firm's decision to ban commissions. <b><i>(More: <a href="http://www.investmentnews.com/article/20161101/FREE/161109984/bank-of-america-merrill-lynch-tells-advisers-to-stop-selling-mutual" target="_blank">Merrill tells advisers to stop selling mutual funds in brokerage IRAs</a>)</i></b>
Financial advisers are telling clients to make these moves before the end of 2016.
The wirehouse, whose platform will be available next year, joins other big firms jumping into digital advice. <b><i>(More: <a href="//www.investmentnews.com/article/20160524/FREE/160529970/sigfig-raises-40-million-in-funding-led-by-eaton-vance-asserting"" target=""_blank"" rel="noopener noreferrer">SigFig raises $40 million in funding led by Eaton Vance</a>)</b></i>
Allegations in the lawsuit largely resemble those of a separate one filed in August this year.
Two sets of benefits exist for ex-spouses depending on their birth dates.
By picking up 883 Transamerica advisers and $25 billion in client assets, its Signator Investors B-D now has the scale to compete profitably in era of increased regulation and rising costs.
Edmond Walters, the founder and former CEO of eMoney Advisor, brings a background in technology to the broker-dealer network.
The transition will be completed by the time the Department of Labor fiduciary rule takes effect.
Her nearly four-year tenure has been highlighted by high-profile enforcement cases and plagued by internal battles that stalled controversial policies.
Digital-advice firms tell the Securities and Exchange Commission they put clients' interests first and that some regulatory updates are needed as digitization of the industry grows.
The bond market selloff is getting more serious, with some popular funds down nearly 20% since the summer.
Regulator claims Securities America Advisors and Triad Advisors "acted inconsistently with their fiduciary duties."
Stuart G. Dickinson is ordered to pay close to $1 million in restitution.
