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.
IT TOOK SOME TIME, but the brokerage industry finally is coming to terms with the death in the family. In this case, the dear departed is a way of operating that is now gone for good. Like any mourner, the industry has collectively gone through...
Contesting arbitrations is often a smart move especially for reps who believe they were unjustly accused or that the settlement demanded by the customer is excessive. At the same time, the case doesn't necessarily end with the issuance of an award...
Q: I just opened an account for a new client who said he had lost a lot of money with another firm. The ACAT (automated customer account transfer) delivered securities purchased at the earlier firm. In reviewing the client's monthly statements it...
Who would have thought that a piece of regulatory paperwork could rank among an advisor's best friends? But it's true. The piece of paperwork in question is the client account form. It's important because the financial services industry relies on...
The House of Representatives has approved a bill that would stiffen rules governing the way mutual funds, high-cost loans and other financial products are marketed to military personnel. The House bill, called the Military Personnel Financial...
When regulators began attacking rapid trading of mutual funds, many funds rushed to slap on redemption fees. The SEC encouraged the practice, proposing last year that anyone who sells a fund within five days of purchasing it should pay a 2 percent...
For E. W. (Woody) Young, one day stands above all others for showering his lady clients with love: Feb. 14. Each Valentine's Day, Young, who runs Quest Capital Management in Dallas, hosts a lunch for his unmarried female clients. Though such a...
An unethical practice is widespread among charities with donor-advised fund (DAF) programs. Financial advisors1 benefit financially from promoting and facilitating the contribution of their clients' funds to charities. These deals, in which donors...
Talking is good any marriage counselor will tell you so. I mention this because the relationship between regulators and the brokerage industry lately resembles that of a long-term union that's hit the rocks, and the pair could benefit from opening...
Once, it was common to advise international clients to set up their tax-free trusts in one of the offshore tax havens places with sun-kissed beaches and afternoon rum breaks. No longer. Now, these international clients should seriously consider...