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Registered Rep.
December 1, 2005
Andrew Osterland
Brokering Advice The essential difference between brokers and registered advisors, say financial planners, is fiduciary duty. The notion that b/ds have a lighter burden of regulation than registered advisors, however, is something the securities industry vigorously disputes. mark for My Articles similar articles
Financial Planning
June 1, 2007
Bob Veres
Victory, for Now Brokerage firms have little choice but to adapt to a world in which their traditional service -- clearing trades and executing transactions -- has become "solely incidental" to the increasingly valuable business of providing advice. mark for My Articles similar articles
Registered Rep.
January 3, 2008
Christina Mucciolo
SEC's RAND Study Released The SEC release the results of the RAND study, which examined how broker/dealers and investment advisors market products and services to investors, and how investors understand the differences between investment advisors and broker/dealers. mark for My Articles similar articles
Investment Advisor
March 2008
Bob Clark
The Empire Strikes Back Wall Street's crafty response to its whipping over the Merrill rule. mark for My Articles similar articles
Financial Advisor
November 2005
Tracey Longo
The Embattled Broker Exemption Rule While advisors talk a good game about their desire to see consumers protected by meaningful regulation, the Financial Planning Association remains the sole litigant in its lawsuit against the Securities and Exchange Commission's so-called Merrill rule. mark for My Articles similar articles
Investment Advisor
May 2007
Melanie Waddell
Victory for the FPA The U.S. Court of Appeals for the D.C. Circuit overturned the SEC's Merrill rule. mark for My Articles similar articles
Registered Rep.
April 8, 2005
John Churchill
`Merrill Rule' Debate Not Over The SEC unanimously voted to allow Series 7 holders, or registered reps, to position themselves as financial advisors -- with certain caveats. But once again the SEC seemed to hedge its bet. So the debate rages on. mark for My Articles similar articles
Registered Rep.
February 1, 2005
John Churchill
A Monster Issue Will the SEC withdraw the Broker-Dealer Exemption, causing reps to back away from adviser status? If so, the impact could cause substantial disruption in the markets. mark for My Articles similar articles
Registered Rep.
February 2, 2006
Kristen French
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. mark for My Articles similar articles
Registered Rep.
May 1, 2007
The Great Reckoning Whatever the specific business impact the Merrill Lynch ruling may have, many see the return to pre-1999 rules as a chance for the brokerage industry, which has long avoided fiduciary duty for business and regulatory reasons, to overcome those obstacles and embrace it. mark for My Articles similar articles
Registered Rep.
April 6, 2005
John Churchill
SEC Adopts Broker-Dealer Exemption Over the vociferous objections of fee-only financial planners, the SEC voted unanimously to permanently adopt the broker/dealer exemption rule, formerly known as the Merrill Lynch exemption. mark for My Articles similar articles
Registered Rep.
March 30, 2005
John Churchill
House Urges SEC to Adopt Broker-Dealer Exemption Rule At issue, at least as far as financial planners are concerned, is that registered reps are presenting themselves as fiduciaries, when in fact they are brokers with a less-than-fiduciary responsibility to their clients. mark for My Articles similar articles
Financial Planning
September 1, 2008
Callahan & Malo
Hybrid Chic A trend toward hybrids in the financial services industry is emerging. Increasingly, firms, advisors and brokers are establishing practices that manage both commission -- and fee-based businesses. mark for My Articles similar articles
Registered Rep.
December 1, 2004
John Churchill
If You're a Broker and You Know It As the holiday season approaches, the SEC is getting daily entreaties from registered investment advisors seeking an end to the broker/dealer exemption rule. mark for My Articles similar articles
Registered Rep.
March 30, 2007
John Churchill
Surprise! FPA Wins Lawsuit Against SEC and the Broker-Dealer Exemption Three years after suing the SEC over the controversial "Broker Dealer Exemption" rule, a federal court has ruled that the SEC exceeded its authority in adopting the rule. mark for My Articles similar articles
Registered Rep.
March 1, 2008
John Churchill
Fix Advisor Laws! Laws should reflect the fact that the differences between registered reps and registered investment advisors have largely evaporated. mark for My Articles similar articles
Registered Rep.
November 3, 2004
Broker or Advisor---Who Knows the Difference? More than half of American investors look to brokers for more than just transactional assistance, according to new research, which also finds that investors don't understand the differences between brokers and registered investment advisors. mark for My Articles similar articles
Financial Planning
March 1, 2011
Larry Light
The Tradeoff Registered investment advisors may end up getting to know a new regulator, but the tougher fiduciary standard they live under will also be extended to cover their broker-dealer rivals. mark for My Articles similar articles
Registered Rep.
October 1, 2002
David A. Geracioti
Outgrowing the Series 7? Registered investment advisors must take the Series 65 exam. As the line between brokers and financial advisors blurs, what responsibilities do brokers that dispense advice and collect a fee based on assets have? mark for My Articles similar articles
Financial Planning
September 1, 2007
Bob Veres
The Dual Reality The FSI and independent broker-dealer community have become pivotal voices in the profession. What they see in the future might surprise you. mark for My Articles similar articles
Financial Advisor
July 2011
Andrew Gluck
Redefining Financial Advice The fate of professionalization and the FPA hang in the regulatory balance. mark for My Articles similar articles
Financial Planning
July 1, 2005
James A. Barnash
Why We're Suing The FPA president explains the lawsuit over the SEC's broker-dealer rule that exempted certain broker-dealers from disclosure standards that apply to investment advisers and most financial planners. mark for My Articles similar articles
Investment Advisor
May 2007
Kathleen M. McBride
Exemption Vacation "To be, or not to be?" a fiduciary is the question of the hour for broker/dealers. mark for My Articles similar articles
Financial Advisor
July 2009
Sherri Scordo
Compliance Concerns There's a lot of buzz these days about potential changes in compliance rules and the impact on advisors. mark for My Articles similar articles
Investment Advisor
June 2007
Melanie Waddell
SEC Won't Appeal Court Ruling The SEC has decided not to appeal the recent ruling which exempted brokers from being subject to regulation as investment advisors in fee-based brokerage accounts, on the basis that the SEC had exceeded its authority under the Investment Advisers Act of 1940. mark for My Articles similar articles
Financial Advisor
May 2006
Andrew Gluck
New Rule Causes Software Schizophrenia New financial software programs for advisors reflect the difference between fiduciary and suitability requirements. mark for My Articles similar articles
Financial Advisor
March 2006
Frontline News AST Trust Purchases Capital Trust Co. Of Delaware... Intuit Poised To Release PortfolioMinder... Financial Advisor Plans Top RIA Ranking... Morningstar Workstation Available At TD Ameritrade... Rule Is `First Step'... etc. mark for My Articles similar articles
Investment Advisor
February 2008
Melanie Waddell
A Busy Year in Washington Now that the Rand report assessing the advisory and broker/dealer industries has been released, No doubt advisors and brokers will be anticipating any possible regulatory actions that the SEC may take. mark for My Articles similar articles
Investment Advisor
May 2007
Bob Clark
We Win, Sort Of How the FPA can make the most out of its upset victory over the SEC. mark for My Articles similar articles
Financial Planning
March 1, 2008
Bob Veres
Deconstructing Rand A report written by the Rand Corp. will help the SEC's staff decide who should and should not be registered as an registered investment advisor, and to determine whether investors understand the differences between and relationships among broker-dealers and investment advisors. mark for My Articles similar articles
Registered Rep.
December 1, 2006
John Churchill
Of Two Minds An internecine argument at the FPA gets to the heart of one of the industry's more vexing problems: Should brokers be able to position themselves as financial planners? mark for My Articles similar articles
Registered Rep.
February 1, 2005
Pam Black
Why More Reps Are Getting Their Kicks on Route 66 What's driving top reps to Series 66 RIA designation is not regulatory rules. It's changes in the wirehouse environment that, newly minted RIAs say, made it harder for them to do their own thing. mark for My Articles similar articles
Financial Advisor
March 2011
Jeff Schlegel
Is Uniformity Possible? Broker-dealers expect some changes if a new fiduciary standard is adopted. mark for My Articles similar articles
Investment Advisor
May 1, 2011
Bob Clark
The Polar Bears Thawing out our modern black and white thinking could save the fiduciary standard. I don't usually write about politics, except when it has a direct impact on financial advice, and this appears to be one of those times. mark for My Articles similar articles
Financial Planning
September 1, 2006
David Spinar
Even the Playing Field Congress needs to standardize the regulations for investment advisors and broker-dealers. mark for My Articles similar articles
Registered Rep.
February 1, 2006
Kristen French
Both Sides Now Brokers who hold dual licenses -- both the Series 7 and Series 65 licenses -- will have to take fiduciary responsibility on some accounts. But they can also sell investments, after they make it crystal clear that they're doing so. mark for My Articles similar articles
Financial Advisor
May 2005
Frontline News FPA Weighs Decision On Lawsuit's Fate... Female Planners Have Reasons To Be Optimistic, Study Finds... Fidelity Expanding Commitment To RIA Business... LPL Hits The Road To Help Advisors Train Staff... IRAs Safe From Creditors But Only in Some States... Lack Of Planning Adds To Woes Of Special Needs Families... mark for My Articles similar articles
Financial Advisor
May 2007
Frontline News Don't Party Like It's 1999... CFP Board Moving Headquarters... Advisors Settle Multimillion Lawsuits... FPA's New Fiduciary Standard For All Planners... Mesirow Advisors Become RIAs... mark for My Articles similar articles
Financial Advisor
December 2005
Harold Evensky
Unintended Consequences Brokers must forego the bells and whistles accompanying much of the current planning software if they wish to avoid having to register as investment advisors; however, that should not prevent them from appropriately using these analytics in arriving at suitable recommendations for their clients. mark for My Articles similar articles
Registered Rep.
April 29, 2005
John Churchill
FPA Sues to Stop Broker-Dealer Exemption The Financial Planning Association believes that the SEC rule which allows registered reps to call themselves financial advisors is contrary to law and encourages broker-dealers to engage in self-dealing with their clients without disclosing their conflicts of interest. mark for My Articles similar articles
Investment Advisor
February 2008
Melanie Waddell
A Groundbreaker SEC's Rand report, of the broker/dealer and investment advisory industries will dominate the discussion among brokers and advisors in 2008. mark for My Articles similar articles
Investment Advisor
September 2009
Bob Clark
Clark at Large: These Guys Are Good Did you ever get the haunting feeling that something was going too well? That's how I'm starting to feel about the reregulation of the advisory world, which is part of the Obama Administration's overhaul of the financial services industry. mark for My Articles similar articles
On Wall Street
July 1, 2009
Helen Kearney
The 'F' Word Stirs Up Controversy Advisors who fall under the new fiduciary standard, namely investment advisors who run a fee-based business, must always put clients' interests before of their own. mark for My Articles similar articles
Investment Advisor
August 2006
Kathleen M. McBride
B/d Briefing: A New Regulatory Framework? In a move that may be the opening salvo in a fight for unified investor protection rules, the SEC is seeking information from potential contractors to conduct a study about how investments and advice are marketed to individual investors. mark for My Articles similar articles
Financial Planning
March 1, 2011
Bob Veres
Gold Into Straw In mid-January, the SEC released its "Study on Investment Advisers and Broker-Dealers" to Congress. Analyzing the study provides an insightful look into how the SEC views the "harmonization" of two different regulatory structures. mark for My Articles similar articles
Registered Rep.
June 30, 2010
Christina Mucciolo
Clients, though Mostly Satisfied, in the Dark about FA Fees, Says Study Overall advisors and investors are still confused about what the advisors' fiduciary responsibility is exactly. mark for My Articles similar articles
Financial Planning
February 1, 2008
Bob Veres
Death by Regulation The financial planning profession is about to fight for its survival against well-funded opponents. Here are some possible outcomes. mark for My Articles similar articles
Financial Planning
November 1, 2006
Daniel B. Moisand
Keep Standards High Financial planning is surprisingly under-regulated. The rules that do exist apply primarily to subset disciplines. As a result, all planners are regulated but no one really regulates planning. mark for My Articles similar articles
Financial Advisor
March 2006
Nancy Lininger
Letters to the Editor The New Advisory-World Order: Commissioned reps have lost clients over the years to discount brokers, day traders and now, the divine fee-only advisor. Firms embracing fees and commissions, and offering the most services and compensation options, will be reborn. mark for My Articles similar articles
Registered Rep.
February 23, 2010
Halah Touryalai
Clients, The New Breakaways First, there was the breakaway broker phenomenon; now, it seems, we have a growing vogue of breakaway clients -- former wirehouse investors who ditch their old advisors for new ones at independent RIAs or broker/dealers. mark for My Articles similar articles