Vanguard’s Robo-Offering: Good for Advice, Bad for Advisors
Expert Michael Kitces weighs in on the pros and cons of the industry giant's latest plans.
American Realty’s Schorsch Leaves Behind $100 Million in Pay
His departure from the nontraded REIT group is tied to accounting errors revealed in October.
Investors Say No to FINRA’s CARDS Plan
"Data from this survey reveals that investors have serious concerns about the CARDS proposal and the risks such a system could pose to their privacy," says SIFMA CEO Bentsen.
Schorsch Resigns From American Realty Capital Post
Two other executives also are leaving the real estate venture, six weeks after accounting errors were announced.
Sterne Agee Takes Ex-CEO to Court Over Luxury Spending
The lawsuit comes after the wealth-management firm was told James Holbrook faced federal investigations.
Fines R Us: FINRA Hits 10 Banks for $43M Over Toys R Us IPO
The firms, including Citigroup, Credit Suisse and Goldman, offered favorable research to win investment banking business.
What the World Needs Now…Are Client Advocates
The securities industry seems to be moving toward fiduciary client advocate advisors. Unfortunately, it looks like it will take a new professional organization to get there.
Some RCAP Sales Agreements Reinstated; Schwab, Fidelity Ease Ban
RCAP says that 70-plus selling agreements “have been reinstated to date.”
Morgan Stanley to Award More Bonuses Up Front
Morgan’s compensation committee agreed to defer future bonus pools at an average rate of 50% instead of 80%.
BDs’ Comments Lead FINRA to Update Communication, Gift Rules
BDs request further guidance, updates on the two rules; FINRA's retrospective review process is ongoing.