The brokerage industry could push for a common rulebook for investment advisors, reviving the idea of FINRA as the SRO. “Even bad ideas never die,” said Schwab’s head of legislative and regulatory affairs.
Equity analysts following LPL say compliance headaches related to the DOL rule could turn off potential buyers. But if the firm were to sell itself, the buyer would most likely be a wirehouse or large national brokerage.
John Thiel is stepping down as head of Merrill Lynch Wealth Management. Andy Sieg, head of global wealth and retirement solutions, will take over starting Jan. 1. The change won't affect the firm's move towards goals-based wealth management.
The U.S. Court of Appeals has dismissed a lawsuit brought against the CFP Board by two advisors who claimed the organization singled them out for their use of the term “fee-only to describe their compensation.
361 Capital will buy BRC Investment Management, the firm's first acquisition and first foray into the long-only space; the deal nearly doubles 361’s assets under management from $1.3 billion to $2.1 billion.
Even with the technology available, financial services' marketers still lag behind consumer retail firms thanks to compliance concerns and independent advisory force, a panel of experts said at a recent Wealthmanagement.com roundtable.
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