Though independence is one of the defining characteristics of many registered investment advisors, it’s also a challenge to presenting a unified front to regulators in Washington D.C. To help independent RIAs get their voices heard, TD Ameritrade Institutional launched the Advocacy Action Tool, an online hub that provides regulatory updates, comment letters and a portal for advisors to send messages to their Congressional representatives. TD hopes that by connecting RIAs with Capital Hill, they can better involve RIAs in grassroots campaigns to bring about positive outcomes for the industry. Advisors can register online and enter their address to look up their local representative.
Dynasty Financial Partners added to its network a Pennsylvania-based registered investment advisory firm with $650 million in client assets. D. B. Root & Co., which was previously part of Commonwealth’s platform, joined Dynasty as one of the largest independent advisory firms in Pittsburgh. The firm, led by founder and CEO David Root, works with corporate executives, business owners and entrepreneurs. “Our partnership with Dynasty…enables us to offer better technology, better statements, better investment opportunities, better execution and expanded access to the world’s capital markets and a widening array of products and services on behalf of our clients,” Root said of the transition.
Morgan Stanley Private Wealth Management has launched a new coffee-table book, entitled, "If ...Stories of Philanthropy," profiling seven high-net-worth clients and how their philanthropic efforts aim to change the world. One of the clients, former supermodel, Christy Turlington Burns, is the founder of Every Mother Counts, a charity aimed at making pregnancy and childbirth safe across the globe. Turlington Burns works with Morgan Stanley Philanthropy Management for advice on nonprofit governance and management. “Every day 800 women die from preventable maternal deaths around the world," she said. "We are educating people about the challenges and the solutions, and also providing them with opportunities to engage in meaningful ways.” The book is available only through Morgan Stanley.
Assisted Suicide Legal In California
California Governor Jerry Brown signed legislation on Monday that will legalize physician-assisted suicide in the state for certain qualifying individuals with terminal illnesses. The bill is based on Oregon’s statute, passed in 1997, which was the first of its kind in the U.S. Brown, a former Jesuit seminary student, reportedly struggled mightily with the decision before ultimately acquiescing, according to the Los Angeles Times. In his signing message, he offered some explanation, writing: “In the end, I was left to reflect on what I would want in the face of my own death. I do not know what I would do if I were dying in prolonged and excruciating pain. I am certain, however, that it would be a comfort to be able to consider the options afforded by this bill. And I wouldn’t deny that right to others.”
