2014 Broker-Dealers of the Year—Scenario 3: SEC Imposes Fiduciary Standard on Reps
How would top BDs handle this scenario? "In many ways," says Eric Schwartz of Cambridge, "we're in a fiduciary world already."
Advocates: The 2014 Broker-Dealers of the Year
The 2014 Broker-Dealers of the Year are unabashed proponents of the independent BD model and, yes, their own firms.
New Hire Roundup: Vanguard Names Davis Head of Fixed Income
In other personnel news, the Brownstone Investment Group hired Matthew Martines, and the Alliance for Investor Education elected new officers.
In a Watershed Year for Fiduciary Standard, Reviewing the Arguments
At the start of Fiduciary September, a reminder on what’s at stake for advisors and investors. Is it time for a feistier fiduciary standard?
CFP Board Hires Cranford as New Lobbyist
The CFP Board has beefed up its lobbying power by hiring Todd Cranford, who advised former Rep. Barney Frank, D-Mass.
The B/D Custodian
As the broker/dealer industry moves, seemingly inexorably, to the fee side of the business, one specific independent B/D--LPL Financial--has taken what might be considered the...
A New Entry With a Familiar Name Enters the Custody Business
LPL Financial has taken what might be considered the logical next step as the broker/dealer industry incresingly moves to the fee side of the business--becoming a custodian to non-affiliated RIAs as well as dually registered advisors. On May 5, LPL announced plans to roll out its new custodial venture in...
Will 12b-1 Fees Survive?
Will the securities and Exchange Commission repeal 12b-1 fees? It depends on whom you ask, but SEC staff will recommend changes that Chairman Christopher Cox...
Revise 12b-1 or Not?
The Securities and Exchange Commission was well aware that 12b-1 fees would be used to compensate brokers for providing services to mutual fund shareholders when it created the rule in 1980, according to former SEC officials.