News, Vision & Voice for the Advisory Community


A veteran securities lawyer takes contrarian stance that the DOL is still 'suitability' reworded, when boiling its 1,000-page 'rule' down to 16-page 'guide'

In prolix prose, the Labor Department's 'exemptions' sound like fiduciary exceptions; as poems, they sound like suitability-level loopholes

Author Irwin Stein
January 18, 2017 at 6:23 PM
no description available
Irwin Stein: Unless the advisor is in a coma, it is always an uphill battle for a client to question an advisor’s judgment.

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Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

Why FINRA's late appearance into smoothie-throwing broker James Iannazzo's life might be rough

It's been about 11 months since Merrill Lynch fired him, and the CFP Board stripped him of the CFP mark; attracting the SRO's attention means more woes.

December 29, 2022 at 1:05 AM

Stephen Winks

Stephen Winks

January 19, 2017 — 3:16 PM
Doesn't this just make you sick of the brokerage/insurance lobby taking unfair advantage of the consumer with no one firmly interceding on behalf of the investing public with the consumer's best interest in mind? The industry is hopelessly broken. Even the solutions are parsed in such a way to disadvantage the forgotten common man whose trust is essential to the industry's well being. How about a 16 page bill of what consumers can actually expect of their advisors and what is disallowed. SCW
brooke southall

brooke southall

January 19, 2017 — 6:25 PM
I like it Steve. Something on the order of an investor's Bill of Rights.
Henning Anderson

Henning Anderson

February 11, 2017 — 10:27 PM
So, it took numerous paragraphs for you to explain, what? Need I say more? No!

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