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SIFMA changing its tune on fiduciary standard: Critics
Advocates for imposing a universal fiduciary duty for retail investment advice are questioning both the motives and the timing behind a study released by the Securities Industry and Financial Markets Association that raised concerns about a single standard of care.
SEC suit raises disclosure questions for breakaway reps
Do breakaway brokers have to disclose to clients how much they stand to gain by going independent?
The choice that Republicans face
Voters have handed the Republican Party either a golden opportunity or a poisoned chalice, and the choice will be determined by the actions of the elected members of the party
CFP Board is taking a step in the right direction
After months of sounding out its certificants, the CFP Board's executive leadership this week will propose to the group's board that fees be increased by $12 a month, beginning July 1, for the 62,000 holders of the mark
Finra floats ADV form for brokers
In yet another sign of the move toward regulatory harmonization, the Financial Industry Regulatory Authority Inc. has asked for input on how to create an ADV-like form for broker-dealers.
Keeping a steady hand amid uncertainty
It isn't an overstatement to say that the future of the advice business hangs in the balance as federal agencies conduct scores of studies and write hundreds of regulations designed to carry out the sweeping mandates of the Dodd-Frank financial-reform law
SEC poised to ban brokers from permitting unsupervised trades
The U.S. Securities and Exchange Commission is poised to ban brokers from letting clients make unsupervised trades on stock exchanges, as it grows increasingly concerned that a rogue transaction could roil markets
<b>FPA conference stunner:</b> Will Finra assume oversight of RIAs?
With the SEC severely understaffed, investment industry officials are saying its becoming more likely than ever that advisers may find themselves regulated by a new body. The most likely candidate? Finra.
Advisers still social networking in the slow lane
“I thought Twitter was something Brett Favre uses to pick up women.”
Skip Schweiss of TD Ameritrade: ‘Advisers are angry’
This year, Skip Schweiss, president of TD Ameritrade Trust Co., took on an additional role as managing director of advocacy and industry issues
Hedge-fund manager starts family office, shuns banks
Stephen Diggle, co-founder of hedge- fund firm Artradis Fund Management Pte, has set up a company to pool his personal wealth with that of family offices in Asia and invest in assets worldwide.
Why more than 7K reps left the big brokerages in 18 months
After Morgan Stanley took control of Smith Barney in May 2009 from Citigroup Inc., David Hopkins grew disillusioned with his new bosses.
Uncertainty hitting investors from all sides
Investing has always been fraught with uncertainty, but rarely has the average investor been confronted with as much uncertainty as is the case now
Revenue rebounds
Revenue increased for a healthy majority of financial advisers over the past 12 months, according to InvestmentNews' 2010 Industry Attitudes survey — a clear bounce-back from 2009, when calamitous market conditions struck panic among investors and advisers alike
Where will the next generation of advisers come from?
We've all read (or written) the stories about the average financial adviser, in his or her late 50s, who just can't seem to find the right succession plan.
UBS nears wealth management turnaround, as outflows taper off
UBS AG, Switzerland's biggest bank, will probably report a fourth straight quarterly profit tomorrow and the lowest wealth management redemptions since 2008.
Beware of wealthy clients’ ‘impossible demands’: Barclays
The world's richest clients often come with “impossible demands,” push margins down and cause internal conflict with investment banking colleagues, said the vice chairman of Barclays Plc's wealth management unit.
Congress must make tax issues a priority
CONGRESS FURTHER DELAYED the recovery from the recession by at least a month when it adjourned to campaign…
RBC adds strategic relationship managers
RBC Correspondent and Advisor Services yesterday announced the addition of four senior-level relationship managers whose jobs are to consult with RBC's broker-dealer correspondents and RIA firms at a strategic level.
Adviser biz on the upswing despite crisis, recession
Despite a recession and uneven economic recovery over the last year, the investment advice industry has grown — both in the number of practitioners and the amount of money they guide, according to a study released Wednesday.
