In a 3-to-1 vote, the Securities and Exchange Commission passed its rule package that would establish a standard of conduct for broker/dealers. Firms will have about a year to comply with Reg BI and Form CRS.
The SEC made a substantial change to its Customer Relationship Summary that largely went under the radar: the removal of the word "fiduciary" from mandated language RIAs must use to describe their standard of conduct.
Recruiting the right talent is certainly a big driver of employee benefit program offerings. But new research shows that benefits like retirement plans and financial wellness programs can pay even more bottom-line dividends.
The $26 billion deal, if approved, would put Schwab on equal footing with the wirehouses, and put pricing pressure on the upper levels of wealth management. Smaller advisors beware.
Some clients in the 'yield enhancement strategy' say they suffered losses greater than 20% in an investment they were told was 'conservative' and 'low risk.'
Advisor Alex Chalekian says he was 'disgusted' by comments made by the billionaire investor and advisor during a fireside chat at the Tiburon CEO Summit this week.
