Yesterday, I came across a data-free screed on Registered Rep. lambasting the financial advisory community in general and the way it is compensated specifically. The piece was written by Andrew J. Haigney, Managing Director of El Cap Investment...
Readers of our work know that we’ve been outspoken critics of the investment management industry. Much of our criticism has been focused on how investment advice is priced and dispensed (see The Truth About Asset-Based Pricing and Investment...
Every wealth management firm needs new business. Conventional wisdom says the most effective way to get new business is referrals from satisfied clients. But some firms, ranging from large national financial service companies to regional boutiques...
Focus Financial Partners LLC in New York is one of the largest registered investment advisor aggregators in the country, but Chief Executive and founder Rudy Adolf likes to say that the company is not interested in turning entrepreneurs into...
The Department of Labor announced Monday that it would reproprose its rule on the application of the fiduciary standard to retirement accounts. The announcement came after House Financial Services Committee ranking member Barney Frank sent a...
SEC Chairman Mary Schapiro said Thursday that legislation introduced by Republicans to restructure the agency and its rulemaking process would threaten the agency’s ability to write and enforce rules effectively. She also said that the SEC...
For years, stockbrokers have routinely stepped over the regulatory boundary that divides traditional brokerage activities from investment advisory activities. By taking advantage of regulatory loopholes, brokers have been able to offer investment...
It’s impossible to know what the sum of the day’s testimonies, questions and comments will lead to, especially considering that whatever bill emerges would need to also pass a Democrat-controlled Senate. Whatever the outcome, it’...
