Added on January 2016 in Form an RIA
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Summary: Securities regulators often use enforcement cases to highlight areas of the law they want financial professionals to be extra vigilant about avoiding. Here are seven compliance messages that rang loud and clear in 2015 and will likely be heard throughout the new year.
Added on December 2015 in Form an RIA
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Summary: Fiduciary duty could finally come to fruition next year.The Labor Department is poised to release a final rule in the spring that would require financial advisers to act in the best interests of their clients when dealing with retirement accounts. Meanwhile, the Securities and Exchange Commission has put a similar proposal for retail investment advice on its regulatory agenda.
Added on December 2015 in Form an RIA
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Summary: Christopher Bray founded Ariel Capital Advisors nearly two years ago, naming the Florida-based advisory firm after his 4-year-old daughter. Now he is being sued by Ariel Investments, a $10 billion Chicago-based mutual fund company, for allegedly infringing on its trademark.
Added on November 2015 in Form an RIA
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Summary: Financial advisors beware: Your firm’s compliance department is watching you, surveilling your personal brokerage accounts and possibly monitoring your Facebook, LinkedIn and Twitter pages. A new survey from Compliance Solutions at Charles Schwab found that compliance officers spend approximately 11 hours per week monitoring and surveilling employees’ brokerage accounts, and half are also watching employees’ social media pages.
Added on November 2015 in Form an RIA
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Summary: Solo advisers make up over half the industry — and are likely here to stay. Still, their ranks are shrinking while those at ensemble firms grow. Why? For one, it's difficult to start out as a solo adviser in today's industry. Next-Gen advisers, especially, see value in joining a firm that offers professional development, established procedures and protocols, and a known brand among clients and prospects.
