Tag: Business model

SEC Issues FAQs About Share Class Selection Disclosure Initiative

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.

It’s Not Déjà Vu, It’s a Brand New Best Interest Rulemaking Debate

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. 

Circuit Court Fiduciary Rule Decisions Raise Important Process Questions

While the Fifth U.S. Circuit Court of Appeals has vacated the DOL fiduciary rule expansion, one attorney warns the rule is still technically in effect, at the very least until the court issues a “mandate” opening a limited period during which the Department of Labor can choose to contest the decision; he also questions whether the circuit courts are in fact split on the matter, as some are suggesting.

Community Engagement and Next Gen Adviser Recruiting

Working Texas Tech University, Advisor Group has published a new survey examining how young professionals entering the advisory filed think about their current work and future career prospects; researchers also highlight the importance of community engagement for elevating the advisory profession.