SEI, Redtail Launch DOL Fiduciary Action Plan
SEI and Redtail are the latest example of firms joining forces to help advisors manage their new compliance burdens.
Raymond James, Ameriprise Keeping Commissions in Retirement Accounts
The two BDs, which have nearly 17,000 advisors, won’t relent to DOL fiduciary rule, insisting that investor choice is paramount.
SEC Charges Advisor for Overbilling Fees, Stealing Assets
The SEC says Marc Broidy billed excess fees and also misappropriated funds to pay for overseas trips and leases on luxury vehicles.
SEC Zeros In on Advisors’ Whistleblower Compliance
Examiners targeting advisors and BDs’ compliance manuals, codes of ethics, employment agreements and severance agreements.
Most Advisors Confused on DOL Rule’s Impact: State Regulator Poll
A majority incorrectly believes that, despite their work with retirement accounts, the new fiduciary standard won’t impact them.
Advisor M&A Surging to Record Year; Should Be ‘New Normal’: DeVoe
With busiest quarter for deals still to come, 2016 is shaping up as record year for RIA mergers and acquisitions, says Dave DeVoe.
DOL Releases FAQs on Fiduciary Rule
First round of FAQs answers 34 questions on new exemptions and amendments to existing exemptions.
Baird, RBC Wealth Add Advisors From Wells Fargo: Recruiting Roundup
Meanwhile, Raymond James picks up a $1.5 million team from UBS in St. Louis.
Senators Demand Clawback Rule in Response to Wells Fargo Scandal
Executive-pay rules under Dodd-Frank offer regulators a chance “to address these accountability issues at major banks,” wrote Sens. Warren and Menendez.
Morgan Stanley Keeps Commission Retirement Accounts, Despite DOL Rule
The news comes one week after CEO James Gorman discussed the importance of giving clients choice.