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Why Wall Street's DOL killer threat -- that 'millions' of IRA investors will go unadvised under new rules -- is hogwash

Investors already have options and Wall Street's withdrawal, already in progress, can only improve investor outcomes

Monday, June 8, 2015 – 10:29 PM by Guest Columnist Ron Rhoades
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Ron Rhoades: I say let these firms so depart the marketplace! There are many, many investment advisory firms willing to provide trusted advice for reasonable fees.

Related Moves

A $4.4-billion RIA in LA made a very 2021 decision to name two women, both 37, co-CEO for a very old-fashioned reason-- accelerated growth--following previous gender diversity moves

Abacus Wealth Partners has quadrupled its assets under management in six years in tangible correlation to its progressive hiring strategy

November 27, 2021 – 12:57 AM

Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out

The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.

August 14, 2021 – 2:20 AM

Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 – 4:37 AM

Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 – 1:12 AM


Mentioned in this article:

National Association of Personal Finance Advisors
Association
Top Executive: Geof Brown, CAE

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff

Garrett Planning Network
RIA Set-up Firm
Top Executive: Sheryl Garrett




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