Can Brokers and Agents Act in Their Clients’ Best Interests?
A reader accuses me of unfairly comparing the dings of broker-dealer firms to those of RIA firms. I reply in my modest way.
Morningstar Adds 2 to C-Suite
Tricia Rothschild is now chief product officer; Danny Dunn has joined from IBM to be the firm's first chief revenue officer.
DOL Fiduciary Rule Could Be Halted ‘Within Days’ of Inauguration
While a bill to delay the rule is pending, there are faster routes, U.S. Chamber of Commerce exec David Hirschmann says.
CFPB’s Cordray Shouldn’t Be Fired, He Should Quit: Senate Banking Chair
Earlier GOP calls to fire Richard Cordray were met with warnings about the potential for a costly lawsuit.
Barred Broker Pleads Guilty to SEC Obstruction, May Avoid Jail
The former advisor will also pay more than $580,000 in penalties for hiding referral fees from an elderly widow.
Trump Must Fire CFPB’s Cordray: Republican Senators
Two Republican senators, citing the CFPB’s “unconstitutional structure,” ask President-elect Trump to fire Director Richard Cordray.
State Crackdown on Annuities Sharpens Suitability Issues for Advisors
As states crack down on suitability review issues, an advisor’s ability to determine which annuity product is advisable has never been more important.
John Hancock Uses NextCapital to Bring Robo-Advice to Its Retirement Savers
The partnership will bring “nonconflicted, personalized advice” to John Hancock’s 2.7 million retirement clients, says NextCapital’s Rob Foregger.
SEC Issues Churning Alert, Then Charges Brokers in Scheme
Brokers performed no reasonable diligence on whether their investment strategy could deliver even a minimal profit for their customers.
SIFMA Recommends Full-Market Close on MLK Day
The move would cover government securities, muni bonds and other products.