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Trade groups spend millions to influence Capitol Hill agenda
Groups representing financial advisers and all facets of the financial services industry spent big bucks lobbying Congress during the second quarter, according to recent filings with the House of Representatives' Office of the Clerk.
Adviser groups to SEC’s Investor Advisory Committee: Don’t impose a definition on concept of ‘fiduciary duty’
Four groups that represent investment and financial advisers complained in a letter about the possibility that the Securities and Exchange Commission's Investor Advisory Committee may attempt to define the term “fiduciary duty.”
Congress urged to impose fiduciary duty on all advisers
Organizations representing in-vestment advisers and consumers last week called for Congress to ensure that fiduciary standards are not weakened as financial services regulatory reforms are enacted.
Financial Planning Coalition wants oversight board for financial advisers
Going beyond their past call for a professional oversight board for financial planners, the Financial Planning Coalition today will ask Congress to bring under one organizational umbrella all advisers who provide financial planning services.
Plan on fiduciary standard wins praise
Investment advisers and consumer advocates have applauded President Obama's proposal to establish a fiduciary duty for broker-dealers offering investment advice.
Ex-NAPFA exec allegedly took $1.24M in kickbacks
Advisers who are members of NAPFA had a range of thoughts and reactions to the news that the SEC last month charged a past president of the organization with taking kickbacks related to unregistered investment pools his firm managed.
Physicians’ association enlists NAPFA to create advisers’ network
The Chicago-based MD Preferred Service Network, which represents more than 831,000 physicians, is entering into an alliance with the National Association of Personal Financial Advisors to create the MD Preferred Financial Advisor Network.
TD Ameritrade to close on thinkorswim Group acquisition
TD Ameritrade expects to close its deal to acquire Chicago-based thinkorswim Group Inc. on June 9, Tom Bradley, president of TD Ameritrade Institutional of Jersey City, N.J., told members of the National Association of Personal Financial Advisors today in Washington at the Arlington Heights, Ill.-based organization’s annual convention.
Watch out for regulatory minefields, TD Ameritrade’s Tom Bradley says
Business is looking up and there are many growth opportunities, but advisers need to keep an eye on federal regulatory reform proposals on the horizon, Tom Bradley, president of TD Ameritrade Institutional of Jersey City, N.J., told members of the National Association of Personal Financial Advisors today in Washington.
Special planning critical for special-needs individuals
Advisers have more clients that have children with disabilities than in the past. As a result, they need to understand the financial planning issues that those families face and become skilled in the use of special-needs trusts, a legal expert said today at the annual convention of the National Association of Personal Financial Advisors in Washington.
This recession not ‘the big one,’ warns U.S. comptroller
The current recession could be only the beginning of economic strife if the U.S. government fails to get its house in order, former U.S. Comptroller General David Walker told fee-only financial planners today.
Advisers seek ways to buffer seniors in downturns
Setting aside a few years of spending money in so-called safe investments for clients is key to creating a regular income for retirees, according to an educational session at the annual conference of the National Association of Personal Financial Advisors being held this week in Washington.
Downturn makes painful task of caring for aged parents even more difficult
Many advisers working with clients who are caring for the elderly parents are grappling with the inherent difficulty of a situation exacerbated by current economic conditions, gerontologist Cheryl Kuba said yesterday at the National Association of Personal Financial Advisors’ annual convention.
William Baldwin is NAPFA’s new chairman-elect
William Baldwin, president of Pillar Financial Advisors Inc. of Waltham, Mass., has been selected to be the new chairman of the National Association of Personal Financial Advisors.
FPA, NAPFA and IAA to fight SEC’s pop-quiz proposal
The financial advisory industry is bracing for a battle over the Securities and Exchange Commission's efforts to subject thousands of investment advisers to surprise exams by outside auditors.
Financial advisers face a crisis of confidence
Many financial advisers are suffering a crisis of confidence that is hurting their relationships with existing clients and hampering their abilities to recruit new clients.
Activity of investment advice needs regulation
As Congress prepares to tighten financial regulation to correct weaknesses revealed by the mortgage collapse, the debate over who should regulate those who give in-vestment advice, including financial planners,
Planners urge enforcer role for CFP Board
With regulation of the financial planning industry all but a certainty, a coalition of industry groups is cobbling together a proposal to make the Certified Financial Planner Board of Standards Inc. the rule setter and enforcer for the nation's hundreds of thousands of unregulated planners.
Financial planning industry groups urge enforcer role for CFP Board
The effort is an attempt by the financial planning industry both to legitimize itself as a regulated profession and reverse the growing impetus of the Financial Industry Regulatory Authority Inc., which oversees securities brokers, to expand its domain to planners and advisers.
Financial planning for surviving spouses
Financial planners can play a crucial role in helping widows and widowers adjust to life without their spouses, said Taconic Advisors president Chip Simon
