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Registered Rep. March 16, 2012 Kristen French |
Wire Houses Minting Fiduciary Advisors -- Or Are They? None of the firms will go on record as to whom specifically in the rank and file is adopting the standard, nor will they provide much detail on what that training looks like.  |
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.  |
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.  |
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?  |
Registered Rep. October 5, 2009 Kristen French |
Citi Bank Brokerage Converts To All Fees Citigroup announced that it would convert its small North American bank brokerage business completely to a fee-on-assets-based fiduciary advice system, and would stop collecting commissions on stock and fund sales.  |
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.  |
Financial Advisor January 2006 Sydney LeBlanc |
Embracing The F Word US Fiduciary offers a business model that is attracting ultra-high-end advisors who want to be fiduciaries.  |
Financial Planning May 1, 2006 Bob Veres |
False Fiduciaries The so-called resolution of the SEC's "Merrill Lynch rule" does nothing to keep brokers from providing financial advice without assuming legal responsibility.  |
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.  |
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.  |
Registered Rep. December 2, 2008 Halah Touryalai |
RIA Consolidators Going After Wirehouse Reps RIA holding companies are opening their arms to welcome wirehouse advisors, but only the cream of the crop: those who have significant assets under management and heavily fee-based books.  |
Investment Advisor September 2010 James J. Green |
Making the Connection: Communicating with Clients in Uncertain Times A panel of three top RIAs explains how they communicate with their clients in good times and bad, with a focus on the fiduciary issue  |
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.  |
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.  |
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?  |
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.  |
Financial Advisor December 2005 Tracey Longo |
The Art Of Being Ethical How financial advisors are turning their ethical approach into a marketing advantage.  |
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.  |
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.  |
Financial Planning June 1, 2007 Marshall Eckblad |
The United Way The FPA's unexpected victory could pave the way to new regulations that cover both brokers and investment advisors.  |
Investment Advisor November 2007 Kathleen M. McBride |
Migration Time Is repapering accounts for 202(a) the last straw for wirehouse reps?  |
Investment Advisor September 2008 Robert F. Keane |
Far From Retired Tony Purpero thought he was headed into retirement when he returned to southern California, but instead finds himself working harder than ever to help other current and future retirees.  |
On Wall Street January 1, 2009 Frances A. McMorris |
The 2009 Challenge: Embracing Change Now that the major earthquakes seem to be over, advisors at the brokerage firms once known as wirehouses increasingly find themselves asking the question: Should I stay or should I go?  |
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.  |
Registered Rep. April 1, 2010 Halah Touryalai |
Citi's Covert Makeover It's a major shift in business for an entire unit to leap in the fee-only RIA world.  |
Investment Advisor March 2006 Melanie Waddell |
Piling On Keeping up with compliance chores will continue to occupy a substantial portion of advisors' time, as industry officials and observers are steadfast in their belief that regulatory scrutiny by the SEC and NASD isn't going away.  |
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.  |
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.  |
Registered Rep. September 10, 2003 David A. Gaffen |
Existing Clients Want More Advice The good news for reps is that the world doesn't hate you. The bad news is that acquiring clients -- particularly affluent ones -- is getting a lot more tough.  |
Financial Advisor May 2005 Raymond Fazzi |
Betwixt And Between Hybrid advisors work in both the fee-based and commission worlds.  |
Investment Advisor September 2005 Dan Danford |
The IA Soapbox: Sorry, Bob. They Still Don't Get it There is no such thing as incidental financial advice. Either financial planning is being done properly and in the sole interests of the client (as in fee-only) or it's just being used as a ploy to sell investment products.  |
Investment Advisor September 2010 Melanie Waddell |
The Playing Field: The Dodd-Frank Reform Bill Afterlife A fiduciary standard for all may crimp RIAs' competitive edge.  |
Investment Advisor December 2005 Melanie Waddell |
Breaking Away Brokers are finding it easier than ever to go independent, aided by custodians and other independent advisors.  |
Investment Advisor August 2010 Melanie Waddell |
Broker/Dealer Marketing: Finding Their Voice Broker/Dealers are waking up to the new, post-downturn marketing environment. Here are a few of the best ideas.  |
Registered Rep. August 29, 2012 Jerry Gleeson |
Devil Take the Hindmost The headlines in the media note that advisor headcount was down 2.3 percent overall in 2011. But it was the independent broker/dealer market that accounted for the biggest hit in the numbers.  |
Investment Advisor March 2008 Bob Clark |
The Empire Strikes Back Wall Street's crafty response to its whipping over the Merrill rule.  |
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.  |
Registered Rep. January 1, 2006 John Churchill |
More, More, More Faced with growing competition from other advice providers and fewer inherent advantages in the way of products and platform capabilities, wirehouse brokers will feel pressure to do more fee-based business and to make wealthier clients a bigger part of their practice.  |
Registered Rep. June 2, 2015 Megan Leonhardt |
Compensation Survey 2015: The Slowly Disappearing Commission Moving from a commission-based business to one based on fees, advocates argue, removes conflicts and puts advisors on the same side of the table as their clients.  |
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.  |
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.  |
Registered Rep. June 1, 2015 Megan Leonhardt |
Compensation Survey 2015: Crunching the Numbers The industry has come a long way in embracing a fee-based business.  |
Financial Advisor January 2006 Raymond Fazzi |
Declaration Of Independence More financial planners are leaving wirehouses to become fee-based RIAs.  |
Financial Advisor October 2010 Scott A. MacKillop |
One Standard, Period The debate over the fiduciary standard should be about clients - and it would be over in a heartbeat if it were.  |
On Wall Street July 1, 2010 Frances A. McMorris |
The Burgeoning Battle For The Best And The Brightest What are the wirehouse behemoths doing to keep their advisors happy, attract others, and, in turn, maintain the bulk of high-net-worth client assets?  |
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.  |
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.  |
Financial Advisor November 2008 Gail Liberman |
War Breaks Out For Wirehouse Brokers The economic crisis on Wall Street, among many other things, is causing wirehouse brokers to reconsider the value proposition offered by the giant financial service firms.  |
Financial Advisor January 2005 Tracey Longo |
How Fee-Based Programs Led 2004 Brokerage Profits Fee-based profitability is not lost on brokerage executives, who are ramping up programs designed to attract more planners to a fee-based business model and away from traditional commissions.  |
Financial Planning March 1, 2010 Donna Mitchell |
More Plans for All A universal fiduciary standard could be great for consumers, but financial planners may get less benefit than they think.  |