Morning Memo
Wealth Management Morning Memo

APRIL 19, 2018

INDUSTRY

SEC Reluctantly Votes to Push Best Interest Proposals Forward

The SEC commissioners pushed through a proposal package that would establish a best interest standard for broker/dealers and restrict brokers from using the titles "advisor" or "adviser."

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HIGH NET WORTH

Why HNW Families Should Involve Kids Early in Philanthropy

Family values can’t be passed on all at once. It takes time.

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Maximizing Social Security for Surviving Spouses

Help widowed clients get the most from Social Security and close the income gap following death of a spouse.

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NAPA 401(k) SUMMIT

What Advisors Can Learn from the Interior Design Industry

Just as HGTV did not make interior designers obsolete, robo advisors will not replace flesh-and-blood advisors, but they will provide more scalability.

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The Daily Brief

Parkland Shooting Survivor Calls for BlackRock, Vanguard Boycott

David Hogg, one of the most outspoken survivors of the Feb. 14 shooting at Marjory Stoneman Douglas High School in Parkland, Fla., this week called for a boycott of BlackRock, Vanguard and other companies that invest in gun manufacturers in a series of tweets. ...

Chicago-Area Advisor Sentenced to 12 Years for Fraud
A financial advisor from the Chicago area has been sentenced to more than 12 years in federal prison for stealing $5.2 million from his clients, including his in-laws, The Chicago Sun-Times is reporting. Daniel Glick, 65, perpetrated the fraud from 2011 to 2017, when he owned three accounting and financial services firms in Orland Park, a suburb of Chicago. ...

Ray Jay COO Transitions into an Advisor Role
Raymond James Financial’s Chief Operating Officer Dennis Zank is retiring from his role at the company to become an advisor in a local branch. Zank also serves as CEO of Raymond James & Associates, the firm’s employee channel, and head of the private client group. He’s been in the industry for four decades. ...

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