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        PLANADVISER

      • Vanguard Launches Consultant Hub for Retirement Plan Consultants
        Features of the Consultant Hub include a retirement plan comparison tool and custom investment reporting, among other things. The post Vanguard Launches Consultant Hub for Retirement Plan Consultants appeared first on PLANADVISER.... Read more »
      • Medium and Large Plans Drive Peak Pension Risk Transfer Sales in 2018
        In 2018, single premium buy-out product sales peaked at $26 billion, more than 14% higher than 2017, according to LIMRA Secure Retirement Institute’s quarterly U.S. Group Annuity Risk Transfer Survey. The post Medium and Large Plans Drive Peak Pension Risk Transfer Sales in 2018 appeared first on PLANADVISER.... Read more »
      • Half of Americans Believe All Advisers Must Act in Their Best Interest
        Many do not know if their adviser is technically a broker/dealer or an adviser, Personal Capital learned in a survey. The post Half of Americans Believe All Advisers Must Act in Their Best Interest appeared first on PLANADVISER.... Read more »
      • Plaintiffs File Brief in Opposition of Supreme Court Review of Putnam Case
        The plaintiffs say Putnam's question to the Supreme Court on whether the plaintiff or the defendant bears the burden of proof on loss causation under Employee Retirement Income Security Act is premature in the case and overstates the purported circuit split. The post Plaintiffs File Brief in Opposition of Supreme... Read more »
      • J.P. Morgan, LIMRA Offer Planning Guides for Financial Advisers
        The J.P. Morgan guide includes late-cycle retirement discussions, and the LIMRA guide highlights 10 common myths of pre-retirees and retirees. The post J.P. Morgan, LIMRA Offer Planning Guides for Financial Advisers appeared first on PLANADVISER.... Read more »
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        fi360 Blog

      • Stable Value Funds Due Diligence Guide
        What are stable value funds and what are the keys to evaluating them? Tyler gets into the details, in true Tyler fashion. Recently I hosted a webinar on Stable Value Navigator – a software solution which allows for the side-by-side evaluation of stable value funds. The output of the product... Read more »
      • Fi360 – the Early Years
        We're counting down to National Fiduciary Day on Feb. 28, which has us feeling a little nostalgic. We asked Rich Lynch, who's been with Fi360 since the beginning, to describe what it was like for us in those early years. Fi360 was founded in 1999 in a suburb near the... Read more »
      • Fiduciary Excellence Part 4: Monitoring the Client Engagement
        Step four of the Fiduciary Quality Management System - Monitor - is the piece of implementing a prudent process where we find most advisors struggle. Here we offer some tips for taking the guess work out of monitoring a client's portfolio. We’ve arrived at the fourth and final step of... Read more »
      • Fiduciary Excellence Part 3: Implementing the Investment Strategy
        We're more than halfway through the Fiduciary Quality Management System. Here's where the rubber meets the road, Step 3 - Implement. Check it out!We’re more than halfway through the Fiduciary Quality Management System. In my previous posts, we focused on the first two steps to implementing a solid prudent process... Read more »
      • Fiduciary Excellence Part 2: Formalizing the Investment Strategy
        This week, we dig into Step 2 of the Fiduciary Quality Management System - Formalize. We will dedicate a blog post to each of our four Prudent Practices® as we prepare for National Fiduciary Day on Feb. 28 so be sure to stop back! In my previous post, we reviewed... Read more »
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        SFP

      • A Proper Interpretation of the Investment Advisers Act's Fiduciary Standard
        To the reader.Following is my rather lengthy comment letter to the U.S. Securities and Exchange Commission (SEC) regarding their 2018 proposed interpretation of the fiduciary standards arising under the Advisers Act. In this letter I provide a more complete exploration of the investment adviser's fiduciary duties, under state common law,... Read more »
      • Advisers Face Perils When Firms Tell Them to Ignore the DOL Fiduciary Rule
        As I've been touring the country and speaking with advisers, I'm astonished at the number of broker-dealer and dual registrant firms that have, apparently, told their own advisers to "not worry" about the U.S. Department of Labor's "Conflict of Interest" (Fiduciary) Rules (and the related prohibited transaction exemptions, such as... Read more »
      • 8 Thoughts and 4 Questions on the DOL Fiduciary Rule and Its Impacts
        As I write this on Tues., 6/13, the fourth day of adherence to the DOL's fiduciary rules (i.e., its "Conflict of Interest Rule" and related prohibited transaction class exemptions) has been completed. And the world of financial services continues to revolve.Over the past few weeks I've had a number of... Read more »
      • On June 9th Strict Fiduciary Obligations to Arise for Advisors to Most ERISA, IRA Accounts: Are You Ready?
        April 13, 2017, REVISED June 2, 2017THE ADOPTION OF THE DoL's "DEFINITION OF FIDUCIARY" AND "IMPARTIAL CONDUCT STANDARDS" - NOW EFFECTIVE JUNE 9, 2017 - WILL HAVE LARGER IMPACTS ON FINANCIAL SERVICES THAN MANY MIGHT IMAGINE.It was a somewhat surprising, and yet brilliant, move, the U.S. Department of Labor ("DoL")... Read more »
      • The DOL Fiduciary Rule: Simply Great for the U.S. Economy, American Corporations
        Dear U.S. Dept. of Labor Secretary Acosta:Two very important considerations relating to U.S. Business and the U.S. Economy are often overlooked in discussions about the DOL’s Conflict of Interest Rule:FIRST - The Rule Benefits American Business, via Minimization of the Risks of Plan Sponsors.Currently firms that sponsor ERISA-covered qualified retirement... Read more »
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        SECLaw Blog

      • Mobile TeleSystems Settles FCPA Violations
        Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan.According to the SEC’s order, MTS bribed an Uzbek official who was related to the former President of Uzbekistan and had influence... Read more »
      • SEC Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client
        The Securities and Exchange Commission today charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of one client for the benefit of another.   According to the SEC’s order,... Read more »
      • GPB Capital, Brokers Under Fire
        Already the focus of inquiries by the SEC and FINRA, the FBI recently made an unannounced visit to the New York investment firm, GPB Capital Holdings.GPB Capital has raised $1.8 billion through private placements. It raises those funds by getting financial advisers to sell GPB private placements to wealthy clients.... Read more »
      • SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During "Clean Diesel" Emissions Fraud
        The Securities and Exchange Commission today charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company's "clean... Read more »
      • Wedbush Settles Failure to Supervise Charge
        The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding.According to the SEC’s March 2018 order instituting proceedings, Wedbush ignored numerous red flags indicating that one... Read more »
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        SEC: Press Releases

      • Justin C. Jeffries Named Associate Regional Director for Enforcement in Atlanta Office
        The Securities and Exchange Commission today announced that Justin C. Jeffries has been named the Associate Regional Director for enforcement in the Atlanta Regional Office.   Mr. Jeffries succeeds Aaron Lipson, who left the agency in December 2018.  In his new role, Mr. Jeffries will oversee the Atlanta office’s enforcement... Read more »
      • SEC Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client
        The Securities and Exchange Commission today charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of one client for the benefit of another.    According to the SEC’s... Read more »
      • Jason J. Burt Named Associate Regional Director for Enforcement in SEC's Denver Office
        The Securities and Exchange Commission today announced that Jason J. Burt has been named the Associate Regional Director for enforcement in the SEC's Denver Regional Office. Mr. Burt succeeds Kurt Gottschall, who became Regional Director of the SEC's Denver office in November 2018. Mr. Burt joined the SEC's Division of Enforcement as... Read more »
      • Wedbush Settles Failure to Supervise Charge
        The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding.  According to the SEC’s March 2018 order instituting proceedings, Wedbush ignored numerous red flags indicating that... Read more »
      • Fee Rate Advisory #2 for Fiscal Year 2019
        The Securities and Exchange Commission today announced that starting on April 16, 2019, the fee rates applicable to most securities transactions will be set at $20.70 per million dollars. Consequently, each SRO will continue to pay the Commission a rate of $13.00 per million for covered sales occurring on charge... Read more »
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          Schwab News

        • Schwab Advisor Services Announces Recipients of the 2018 IMPACT Awards®
          Dateline City: WASHINGTON BEST-IN-BUSINESS IMPACT AWARD™ - JMG Financial Group PACESETTER IMPACT AWARD™ - Rebalance, LLC TRAILBLAZER IMPACT AWARD™ - The Colony Group BEST-IN-RETIREMENT BUSINESS AWARD™ - Fiduciary Investment Advisors, LLC WASHINGTON--(BUSINESS WIRE)--Schwab Advisor Services today announced the recipients of the 13th annual IMPACT Awards® for independent investment advisor firms.... Read more »
        • A Decade Since the Financial Crisis Began, Schwab’s Bernie Clark Champions the Rise of Independent, Fiduciary Advice
          Dateline City: WASHINGTON WASHINGTON--(BUSINESS WIRE)--Speaking to more than 5,000 attendees at Schwab IMPACT®, the largest and longest-running event for independent advisors, Bernie Clark, executive vice president and head of Schwab Advisor Services™, pointed to the industry’s trajectory of growth over the past decade and underscored the critical importance of independent... Read more »
        • Momentum Continues in Advisors Moving to Independence
          Dateline City: SAN FRANCISCO Twenty percent year-over-year increase in new independent advisor firms Schwab announces keynote lineup for IMPACT® 2018 in Washington, D.C.; Janet Yellen and other prominent thinkers to address attendees one week before midterm elections SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services today released its analysis of U.S. Securities and... Read more »
        • Schwab Advisor Services™ Unveils Plans to Expand Digital Account Open Feature
          Dateline City: MIAMI BEACH, Fla. Industry’s leading custodian deepens integration with Orion Advisor Services Schwab’s advisor tech team competes in Ascent/FUSE 2018 marathon coding event MIAMI BEACH, Fla.--(BUSINESS WIRE)--Today at the Orion Ascent conference, Schwab Advisor Services previewed its Digital Account Open tool, which will be in pilot for independent... Read more »
        • Schwab Advisor Services™ Recognizes Three Firms for Operational Excellence in Digital Tool Adoption and Operating Discipline
          Dateline City: SAN FRANCISCO Advisors report continued progress in integrating technology solutions at regional SOLUTIONS ® workshops SAN FRANCISCO--(BUSINESS WIRE)--Advisors are realizing the benefits of technology and workflows within their firms according to a survey of approximately 2,000 attendees at Schwab Advisor Services’ annual SOLUTIONS® events. Through these one-day workshops... Read more »
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          TD Ameritrade News

        • Inclusivity. A win-win-win.
          When you do work that matters, in a way that reveals your values, you’re sending a message to everyone around you. As we’ve seen over the past few years, the values of a firm and its leaders can no longer be a secret. Or separate. They are intertwined with the... Read more »
        • How much gas is left in the tank?
          Markets have staged an impressive uptrend since the March 2009 lows, with the S&P 500 Index up nearly 320% over that time frame. Skeptics have been calling the top since 2010, not long after the rally began. Recently, however, signposts are appearing that may indicate changes on the horizon. Every... Read more »
        • Turbulent skies ahead for junk bonds
          Below investment grade corporate debt (“junk bonds”) can be an integral component of many portfolios’ composition and performance. They command a higher risk premium, as they are issued by companies that have uncertain financials, high debt levels, and/or poor earnings. As a result, their trading prices can be extremely volatile.... Read more »
        • Learn more about the SEC’s proposed advice standards
          Hard to believe it’s been more than 13 years since TD Waterhouse submitted a comment letter to the Securities and Exchange Commission expressing its concerns about the “Merrill Lynch Rule,” which allowed brokers to charge fees for brokerage accounts yet not answer to fiduciary obligations under the ‘40 Act. When... Read more »
        • Is King Dollar’s crown losing its luster?
          Over the last two years, we have seen major changes in the Federal Reserve’s monetary policy, unanticipated developments in U.S. fiscal policy reform and infrastructure plans, steady rises in U.S. Treasury yields, and tumultuous global geopolitical events. Yet these have largely been unable to sustain the 2013–2015 bull market in... Read more »
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          Envestnet News

        • Envestnet | Tamarac Introduces Integration with RightCapital
          CHICAGO, Nov. 30, 2017 /PRNewswire/ -- Envestnet | Tamarac (www.tamaracinc.com) announced a new integration with RightCapital, Inc., a leading financial planning software platform for Registered Investment Advisors and independent broker-dealers. RIAs who use RightCapital to help their investor clients with financial and tax planning now will be able to pull... Read more »
        • Envestnet | Tamarac Launches a New Version of Its Comprehensive RIA Platform
          Upgraded Platform Combines its Award-Winning Portfolio Management, Client Portal and Rebalancing Capabilities into a Single Application CHICAGO, Nov. 14, 2017 /PRNewswire/ -- Envestnet | Tamarac announced today it has launched the Tamarac platform, a completely redesigned version of  its comprehensive portfolio and client management software solution for independent Registered Investment Advisors... Read more »

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