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U.S. and Canadian banks say developing mass affluent wealth management business is a top priority, but they’re not doing enough about it, says a recent report from Aite Group. Most banks are focusing their efforts on cross-selling brokerage...
Merrill Lynch said today it is rolling out a new pricing program that provides incentives for customers to hold $50,000 or more in BofA deposit accounts or Merrill Edge investment balances. The program, called Platinum Privileges, provides...
In a Dodd-Frank study released over the weekend, the SEC recommended that all brokers and financial advisors adhere to the same strict fiduciary standard that currently applies to investment advisers when they provide personalized investment...
Philadelphia: “Getting the proper support has always been an issue at my firm,” groused Harvey during the Q&A session following my presentation. Then he asked a question, impossible to answer in a quick sound bite: “How do elite advisors develop ...
In a Dodd-Frank report to Congress Wednesday night, the SEC supported imposing user fees on investment advisers as the best method for improving oversight. But it recommended legislators consider three options, including giving responsibility to...
The truth is, asset managers haven’t gotten very involved in the debate surrounding the Dodd-Frank financial reform legislation, mostly because they say there are few issues that apply to them. According to Barbara Novick, founder of...
Of all the categories of conduct that will land a certified financial planner before the CFP Board of Standards’ Disciplinary and Ethics Commission, bankruptcy currently ranks number one. And the number of bankrupt CFPs who come before the...
The SEC must deliver two Dodd-Frank reports to Congress by January 17 and January 21. Compliance consultants, securities lawyers and lobbyists expect the regulator to recommend an SRO for investment advisers in the first and a fiduciary standard...