According to the firm, the new suite of service offerings and tools will assist advisers across Ladenburg’s independent advisory and brokerage subsidiaries in achieving their strategic business goals through practice acquisitions and the development of continuity plans.
At the end of the day there just aren’t all that many people working on retirement plans, so it is only natural that firms will compete for and trade talent.
They say that additional interpretation of standards of conduct for investment advisers is unnecessary and that imposing broker/dealer standards on life insurers and investment advisers is inappropriate.
FINRA asks advisers to share their insights about “fintech innovation in the broker/dealer industry,” while also unveiling a new structure for its enforcement staff.
Commentary from Wagner Law Group and Drinker Biddle attorneys highlights what advisers need to know about the SEC’s ongoing analysis of broker/dealer “best execution” issues, as summarized in a recent Risk Alert publication.
Previewing two new Fiduciary Focus Toolkit reports that help plan advisers optimize their workflow, Fi360’s product strategy leader pointed to increased interest in fiduciary support among traditionally wealth-focused firms.
The underlying technology will be provided by Retirement Plan Advisory Group and delivered to advisers with the support of a centralized team of retirement specialist consultants.
Bill Beardsley, head of Retirement Partners at LPL, gives his take on the firm’s decision to close the Worksite Financial Solutions program, and on his plans for lasting growth in the DC retirement space.
Without admitting guilt or even the facts of the case, Betterment has settled various allegations of improper recordkeeping and "window dressing" leveled by FINRA, to the tune of $400,000.
While the deadline had already technically passed for the DOL to appeal the circuit court ruling vacating its fiduciary rule reforms, this highly anticipated move by the court is truly the end of an era.
A new client alert published by the Wagner Law Group urges advisory firms to review and consider an update to anti-churning policies, now that FINRA and the SEC are both engaging in the matter.
Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and fiduciary change.”
This leaves the SEC’s revised conflict of interest standards for brokers and advisers as the leading alternative.
If an adviser reduced their fee due to the receipt of 12b-1 fees, the SEC might not ask for any disgorgement; for instance, the SEC says, if an adviser regularly charges an annual management fee of 1.25% of assets but lowered that to 1% in light of the 12b-1 fees, the SEC says it is unlikely to ask for any disgorgement.
The release of a thousand-page "best interest" rulemaking package by the SEC applying to all brokers and investment advisers is being hailed as a victory by some and a deep disappointment by others; either way, it's the start of another long chapter in the epic industry battle over federal conflict of interest regulations.
It will take time for the fully detailed picture to emerge, but the SEC voted late Wednesday to propose new conflict of interest standards for how broker/dealers and financial advisers label themselves and sell products under various fee structures to retail clients.
Nearly a month after an appellate court unexpectedly quashed the DOL fiduciary rule expansion, the Securities and Exchange Commission has announced a date and time for its first formal meeting on the topic.
Amid a glut of retirement plan industry litigation and regulatory change, advisers are asking the twin questions of whether one owes a fiduciary duty to their client, and if so, what exactly those fiduciary duties entail.
Almost half of advisers who left their firm moved along with a larger team in 2017, versus 34% in 2012, according to data shared by Fidelity Clearing and Custody Solutions; advisers moving to an independent broker/dealer more often depart as a team versus other movers.