Kristina Fausti of Fi360 says that Senator Herb Kohl’s amendment calling for a new board to oversee all advice givers, “would create gaps by pulling some investment advisors under the umbrella of a financial planning oversight board while leaving others out. It would also keep current gaps in place with regard to brokers because not all brokers who provide advice will be regulated as financial planning professionals.” Also, Fausti says, the proposed amendment “would indirectly bring persons such as CPAs under SEC regulation, creating a gap in the SEC’s knowledge and expertise, which is solely focused on investment advice as it relates to securities.”
The number of deals and size of assets through Sept. 30 already exceed the totals for all of last year.
In light of Ken Fisher's behavior at an industry event, one female CEO and other industry players discuss ways to change the culture in wealth management.
Warren says her administration will restore the rule “so that brokers can’t cheat workers out of their retirement savings.”
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