Fiduciary
Industry Leader Swings Against State Fiduciary Proposals
New Jersey, Nevada and other states trying to raise customer-care standards for brokers should back off in favor of the SEC’s soon-to-be proposed rule package, said Sifma head Ken Bentsen.
Merrill to Restore Commission-Based Retirement Accounts
Tells brokers it underestimated how upset many customers were over losing an IRA account choice available at most competitors.
Analysis: Fee-Based Flows Slump in Second Quarter
Several big brokerage firms reported double-digit declines in net new advisory assets as recruiting slows and the Labor Department’s fiduciary rule was formally vacated.
Opinion: Report Card on an Industry in Transition
AdvisorHub CEO grades the various business models.
It’s Official: U.S. Rule to Protect Retirement Savers Is Dead
The “fiduciary rule” is officially dead.
Merrill Weighs Fewer Retirement Account Restrictions
Wealth head Andy Sieg told brokers firm will decide in about 60 days how to simplify its rigid DOL Rule restrictions and perhaps allow commissions for some asset classes.
JPMorgan to Remove Some Fiduciary Rule Handcuffs, Others May Follow
The corpse of the DOL rule hasn’t been buried, but firms are revising retirement account products and policies in preparation for the expected repeal.
Farewell Fiduciary Rule? Morgan Stanley Sweetens Recruiting Bonuses
Newly hired brokers can get payout credit for retirement account assets, reversing policies that were imposed in 2016 to comply with the Labor Department’s conflict-of-interest rule.
SEC Proposes ‘Best Interest’ Standard for Brokers and Their Customers
Controversial rules would require enhanced disclosures about conflicts but critics say they largely preserve the status quo.
DOL Fiduciary Rule Appears Headed for the Supreme Court
Stage is set for a determination on the controversial rule at highest level following a split decision Thursday in a Texas appeal court that vacates the Labor Department rule.
Massachusetts Charges Scottrade over Retirement Account Sales Contests
State official says firm now owned by TD Ameritrade violated the DOL’s fiduciary rule by “conducting sophomoric contests.”
