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: Galvin 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.
The Next 10 Years Will Be Ugly for Your 401(k)
We expect about a 5 percent return on our investments; a Research Affiliates report tells us we should start getting used to disappointment.
Robert Reich, Alan Simpson Take On Social Security, Debt Problems
At Schwab Impact, policy pros but friends from across the aisle address “all the issues not addressed” in presidential race.
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.
How an Expected Rise in Inflation Could Impact Markets
If oil stays at $50 per barrel for the next three months, Loomis Sayles’ Maura Murphy expects to add 1% to inflation.
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.