Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
Talk about paying to play. Three registered investment advisors were accused by the SEC of accepting cash payments from TD Waterhouse in return for putting client assets with Waterhouse. The SEC announced in late September that it had fined TD...
Your branch manager is a jerk. The broker/dealer is run by idiots. Worse, those morons just reprimanded you for unsatisfactory production and warned you to shape up or ship out. Okay, so you've reached the point in your career when you face the...
Regulators have been all over brokerages, investigating mutual fund breakpoints and, more recently, the probity of fee-based accounts. Now, add forgivable loans to the list. Although NASD officials say this is something they've been looking at for...
If you're a broker, chances are you introduce yourself to clients and prospects as a financial advisor or financial consultant. The Financial Planning Association and some consumer groups are in court in an effort to break you of that habit and...
To advisors who would ask, Do I need a personal coach? I respond, Michael Jordan had one, and Tiger Woods employs one. Even the best financial advisor can benefit from a coaching relationship, provided the relationship is approached with an open...
SALT LAKE CITY Brokerage firm executives aren't generally known for their glowing adoration for regulators and their proposals, but Dick Averitt of Raymond James Financial Services had some particularly harsh words for the NASD. At the firm's...
It has been said there are few things more dangerous than a wounded beast; the New York Stock Exchange seems hellbent on proving that rule. The NYSE has had its fair share of black eyes recently, with most of its troubles related to problems...
The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. The SEC's recent ban on the practice of directed brokerage was expected. The same cannot be said for the ominous comments...
A new study of mutual fund firms' enforcement capabilities affirms what many in the industry have known for some time omnibus accounting practices by fund intermediaries make catching timers virtually impossible. The study, conducted by the...
Change is in the air for wholesalers, thanks to the mutual fund scandals and recent banning of directed-brokerage practices by the SEC. Boston-based Financial Research Corp. recently said in a study that the changes will go beyond increased...
