Displaying 108 results
Errant ex-advisor who lost clients almost $2M hit with 10-year prohibition
Former advisor reportedly put his clients in unsuitable private placements and misappropriated part of a senior client’s $675K investment, among other breaches.
Focus on outcomes, not mythical legal jargon, says Finseca CEO
Marc Cadin responds to a recent InvestmentNews editorial and explains why he believes the DOL process and pro-fiduciary rule argument are both flawed.
DOL fiduciary rule faces pushback in congress
A bicameral group of senators and house representatives have launched a joint resolution seeking to quash the rule.
Speed of DOL fiduciary rule rollout branded ‘unAmerican’
Opponents left disappointed after final rule released, DOL accused of 'conducting an ideological campaign to ban commissions'.
Fiduciary Institute shapes next-gen advisors with leadership course
The program seeks to build on the vision articulated by industry icon Dick Wagner.
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
DOL retirement security rule would be ‘disastrous,’ GOP rep says
Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.
Critics of DOL fiduciary proposal work to generate Democratic opposition
‘When you have both sides come together and support something – or in this case oppose something – we can put forth better policies for retirement savers,’ says a financial industry lobbyist
Moisand helps amplify CFP Board’s voice in fight for fiduciary advice
In one of his last actions as CFP Board chairman, Daniel Moisand testified at last month’s hearings on the Department of Labor’s latest advice proposal.
Hub International acquires retirement consulting firm
Renaissance Benefit Advisors Group focuses on helping plan sponsors with their fiduciary responsibilities.
DOL’s rule would add a lot of fiduciaries into the mix
But even those who already work in a fiduciary capacity will be affected, one lawyer says.
Don’t say ‘fiduciary rule’; DOL terms next attempt a ‘retirement security’ reg
'We are trying to protect retirement savers,' says DOL assistant secretary Lisa Gomez. 'This is a new approach. Stay tuned.'
Lawsuit over ESG in 401(k) not cleared for takeoff, American Airlines says
ESG-themed funds named in the case are only available through a brokerage window, the defendant noted.
When fiduciary duty is at odds with what’s right for clients
It's time for the financial services industry to rethink its rules when it comes to offsetting fees.
DOL’s apparent U-turn in court hints at new fiduciary rule in works
The American Securities Association says the Labor Department voluntarily dropped its appeal of a Florida court's decision striking down DOL guidance making rollover advice fiduciary.
New firm sees opportunity in PEPs as ‘operational fiduciary’
Jason Roberts and Pete Swisher started Group Plan Systems to let investment managers offer PEPs to clients.
Price check on Kroger’s 401(k) fees showed overcharge, lawsuit claims
The law firms that filed the case point to record-keeping fees that were higher than those for other plans they identified.
State regulators: Reg BI fails to curb conflicts of interest
Most brokerages continue to demonstrate conflicts of interest when recommending investments to retail customers, a NASAA study shows.
OneAmerica launches plan as alternative to MEPs, PEPs
The new OneConnect product allows plan advisers to act in a 3(21) or 3(38) role.
401(k) suit claims higher revenue-sharing funds should have been used
Had Juniper Networks' plan used higher-revenue-sharing share classes, net costs conceivably could have been lower, if those fees were rebated back to participants, according to the complaint.
