Massachusetts securities division examining independent broker-dealers that sold RCS alternative investments such as nontraded REITs.
New business models, heavy compliance costs and figuring out 'reasonable' fees are among the items giving IBDs fits.
RCS Capital intends to make another round of bankruptcy filings that will include broker-dealer holding companies of its Cetera Financial Group firms.
Forty advisers from the Legend Equities Corp. are joining a firm that specializes in retirement plans for schools and other nonprofits.
U.K., Australia both passed fiduciary rules, though their versions weren't limited to retirement advice. How have they fared, and what can U.S. advisers learn from them? </br><b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">Coverage of the DOL fiduciary rule from every angle</a>)</b></i>
Firm agreed to leave more than 40 senior staffers alone until September or until RCS Capital's bankruptcy plan becomes effective.
Final version includes a number of changes that address the most serious concerns of those who most vehemently criticized it.
Firms need to be proactive in conveying information to their advisers.
Answers to common sources of confusion or misunderstanding about the new regulation.
Scan of recent orders and reports from SEC, Finra shows the advice industry is already feeling the effects of fiduciary.
Three independent broker-dealers formerly operating under AIG's umbrella have been fined $7.5 million and ordered to pay restitution of $2 million to clients.
Wiser Financial Group joins broker-dealer formerly known as NFP Advisor Services.
Group has established a resource center on state laws and agencies to help vulnerable clients.
Many advisers and the firms they work for are still woefully unprepared for what lies ahead.
A Michigan pension plan says the company bought back shares at artificially inflated prices because of misleading statements it made about its financial condition.
Firm expects the fiduciary rule to be a catalyst for more advisory business and wants to help its advisers compete.
Policies and procedures which, when layered upon already onerous rules and regulations, fail to recognize advisers' years of experience and wisdom.
Court filings from the RCAP bankruptcy proceeding state that Cetera Financial Group's adviser headcount has fallen 4.3%.
The company doesn't specify how many of its 9,000 Cetera brokers will qualify, or any other details of the plan.
