Fiduciary
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.”
SEC Seen on Verge of Proposing a Fiduciary Rule
The Commission could submit a customer best-interest proposal by the second quarter and possibly regulate brokers’ ability to call themselves financial advisors.
Fiduciary Standard Governs More Than 40% of Retail Assets: Cerulli
Traditional firms that have moved advisors aggressively to fee-based accounts are battling the unintended consequence of lower account growth.
Brokers with Clients in Nevada on Red Alert
Amended state securities law exposes firms and advisors to lawsuits if advice results in a loss and requires compensation disclosure.
DOL’s New Fiduciary Missive Invites Questions, Induces Agita
Opponents as well as critics of the original rule lament the ongoing uncertainty.
Firms and Government Take New Looks at DOL Fiduciary Plans
Edward Jones reverses hard stop on commission-based retirement fund sales while DOL Secretary Acosta presses ahead on possible reworking of Obama administration rule.
LPL Caps Non-Traded REIT Pay Ahead of DOL Rule, Delays Off-Platform Fund Ban
LPL clamps 6% lifetime maximum commission on non-traded REIT sales.
DOL Fiduciary Rule a “Positive” for Morgan Stanley, Says Wealth Boss
Andy Saperstein, co-head of the firm’s Wealth Management unit, said the rule has sped up the move to more profitable fee-based assets.