Unfinished Business: Advisors Debate Fiduciary Standard, SRO
As we near the end of 2011, two of the top issues for the advisory industry remain unresolved: a fiduciary mandate for brokers and a SRO for advisors.
Harmonizing Advisor, BD Rules Back Burner Issue for SEC: fi360's Thompson Says
Harmonization of advisor and broker rules is an issue that’s “lower on the totem pole” for the SEC now, Duane Thompson, senior policy analyst with fi360, said on Thursday. However, there are clearly areas where harmonization needs to occur.
Fidelity's Durbin Asks: Need Another Reason to Leave Wirehouses? Taxes?
Fidelity white paper explores the taxation issues that arise when advisors switch business models from captive wirehouse to independent RIA.
The Best Defense
An advisor named John posted the following question to my April 20th "Definition of Character" blog: "In your scenario, does it preclude the RIA from...
Be Careful What You Wish For
Recently, I attended the Fi360 Conference in Scottsdale. The conference was excellent, and as you might expect from a conference affiliated with the Foundation for...
The Real Deal
It would be hard to overemphasize the impact that technology has had on the success of independent financial planning. Those old HP-12Cs empowered the first...
Regulators add valuation of private securities to their focus on the basics. Brian Hamburger says he gets up to five calls a day from wirehouse...
B/D or RIA? The Case for the Registered Investment Advisor
I recently gave a presentation at a national conference contrasting the strengths and weaknesses of being an advisor in a wirehouse, at a bank, with...
For Their Eyes Only
Boys will be boys. Brian Hamburger has a client whose employees used email to conduct "bar-stool" conversations--that is, the kind of conversations that really should...
What You Need to Know About Your E-mail
If securities regulators were to start enforcing e-mail retention rules today, independent advisors would in be big trouble. Based on my recent conversations with advisors...