The DOL fiduciary rule will forever change financial advice, and the industry now faces the challenge of adapting to the new regulation.
The mergers we may see as a by-product of the DOL rule are likely to be trickier — and more permanent — affiliations, and advisers will need to do their homework.
Pershing LLC has partnered with NextCapital, an adviser-facing robo platform.
<i>Breakfast with Benjamin</i> According to Janus' Bill Gross, just because negative interest rates feel good doesn't mean they're a good thing.
The legislation, which would automatically enroll employees without retirement-plan access, is a companion bill to one put forth in the Senate earlier this year.
Green bond issuance globally has grown 80% this year, much of it from China
The Wall Street firm will emphasize retention over costly recruitment packages.
Even those fighting the regulation say advisers need to start making business decisions to meet April 2017 implementation.
Most job postings mentioning CFA offer less than $100,000.
Plus: Dodd-Frank foes outline plan to dismantle law, Goldman says utility stocks expensive and JPMorgan revamps dress code
Registered investment advisers can be held liable if they don't act in clients' 'sole interest' when it comes to retirement advice.
Firm's moves stem from error it made in voting on the 2013 buyout of Dell.
Deputy Assistant Secretary Timothy Hauser was scheduled to participate but abruptly backed out late last week, after the Insured Retirement Institute joined a lawsuit seeking to vacate the rule.
The National Association for Fixed Annuities levies similar arguments to the initial suit, filed just one day earlier.
Although the Labor Department doesn't have enforcement authority over IRAs, it does have interpretive authority, observers say.
Advisers choosing models with the most support forgo up to 25% of profits.
Incidents of online thieves taking control of tax preparers' computers and client information are rising.
If a firm's transition to the Best Interest Contract Exemption is done using paper contracts and disclosure forms, it could be costly, difficult and risky to manage.
The fine relates to an ex-broker, Galen Marsh, who took data from hundreds of thousands of the wirehouse's clients, some of which ultimately ended up online.
