Looking to 2018 and beyond, traditional advisers, brokerage firms and banks are widely (and aggressively) seeking to integrate digital advice into their service offerings; the CFP Board Center for Financial Planning offers a digital advice road map to help make sense of it all.
The regulator is reassessing its requirements for RIAs to monitor the outside business activities of their reps; one experts argues it is likely that, if the final rule reflects the proposed rule, many plan advisers who serve plans through an independent RIA (as opposed to the broker/dealer’s “corporate” RIA) will seek to renegotiate their compensation arrangements relating to their independent RIA revenue.
Our series of exclusive articles featuring retirement industry “disruptors” continues with another growing provider in the small- and mid-market, promising 50% lower costs than the traditional competition through the exclusive use of fixed fees.
Recent interviews with product development executives at Putnam and Charles Schwab show the aggressive steps brand name providers are taking to keep their edge in a highly competitive and unforgiving marketplace.
The enforcement arm of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth alleges that Scotttrade violated the Massachusetts Uniform Securities Act and related regulations by leveraging sales contests that violated the expanded DOL fiduciary rule.
A look back at how Fidelity will charge new plan sponsor clients on its platform who choose Vanguard products makes visible the hard-nosed competition that defines the retirement plan recordkeeping and brokerage industries.
Offering some preliminary commentary on the SEC’s newly announced adviser 12b-1 fee conflict of interest “amnesty” program, as it’s being referred to in the trade media, Wagner Law Group attorneys warn of the inherent risks in the self-reporting of violations.
Under the new “SCSD Initiative,” the SEC’s enforcement agents will recommend “standardized, favorable settlement terms” for investment advisers that self-report that they failed to disclose conflicts of interest associated with the receipt of 12b-1 fees by the adviser or an affiliated broker/dealer; the regulator further warns that advisers who fail to take advantage of this program will be punished more severely in the future.
Since the 20% deduction of qualified business income means that a self-employed individual will be taxed at a lower rate than an employee performing substantially the same work with a broker/dealer firm, might more brokerage employees be driven to act as independent contractors?
Josh Robbins, lead strategy officer for the direct-to-sponsor plan provider America’s Best 401K, offers a closer look at the virtues and potential weaknesses of the firm’s “disruptor” model and short sales cycle.
Cerulli categorizes consolidator firms into three segments, and “The merits and drawbacks of each segment’s business model will often depend on the adviser’s motivations for affiliating with a larger partner.”
Retirement plan fiduciaries must understand the expenses their participants pay to make trades and access investments, but their duty to monitor and ensure reasonableness is not limited to the issue of pricing alone.
A new Corporate Insight report offers a brief history of the development of financial services technology security measures introduced since 1996—delivering for retirement plan fiduciaries important contextual information about today’s evolving best practices.
New research follows previous Cerulli analyses showing home-office discretion over advisory clients' investment exposures will increase significantly under the DOL fiduciary rule and other competitive pressures.
Presented here are the results of several dozen live polling questions fielded at the 2017 PLANADVISER National Conference, gathered during three days of highly detailed discussion of industry trends, challenges and best practices.
An open letter penned by the Consumer Federation of America warns that some players in the investing industry may be sending false signals as to the impact of the widespread shift toward fee-based accounts.