News, Vision & Voice for the Advisory Community


DOL fiduciary rule's upcoming September surprise'll send brokers memo-izing -- or else -- says Fred Reish in Nashville to a spellbound room

The Drinker Biddle attorney's invariably even tone gained inflection as he spoke of how brokers can only invoke BICE exemptions to go off DOL script by zealous, proactive documentation

Author Graham Thomas May 25, 2017 at 7:53 PM
1 Comment
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Fred Reish: You need the data in your file.

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RIA Compliance

Stephen Winks

Stephen Winks

May 26, 2017 — 2:28 PM
Prudent process (asset/liability study, investment policy, portfolio construction, performance monitor, etc.) which puts financial services back into the financial services business authenticate back to statute, will be the new reference point to professional standing in advisory services. Here-to-fore b/ds have fought fiduciary duty, now it is their best interest to be a stickler to detail as directly or indirectly required by statute. Finally the brokerage industry is aligned in the best interest of the investing public as it becomes a strategic imperative. The broker is accountable for every recommendation they have ever made and there are at least 265 fiduciary duties entailed in continuous, comprehensive counsel of fiduciary duty (more depending on the granularity of the definition of advice) which are documented in prudent process which every b/d must support as its core intellectual capital which drives market share and professional standing. We are about to experience a renaissance in advisory services in the best interests of the investing public. SIFMA/FSI suddenly discovers fiduciary duty for its brokers is a good thing .SCW

Related Moves

November 15, 2023 at 3:24 AM

After Riskalyze raised a pile of cash, it went shopping for a chief technology officer and found him at Apex Clearing

The Auburn, Calif., risk software maker is undergoing a shift to enterprises and nabs Josh Gray from the Dallas firm.

August 10, 2022 at 2:25 AM

Riskalyze replaces Lori Hardwick with Laurie Schultz at board chair and publicly tells her -- and the RIA industry -- it's moved the goalposts to a $1-billion valuation

The Auburn, Calif., firm's new chair already took one risk software firm to unicorn status and promises to 'do what it takes.'

November 24, 2021 at 11:12 PM

Lori Hardwick steps down as AI Labs president and steps up as a gunslinging paladin for Riskalyze and other firms in new gig economy consulting role

The co-founder went to the Tiburon CEO Summit in April and came away with four big consulting gigs that morphed into a new career

June 13, 2019 at 2:48 AM

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Top Executive: Aaron Klein

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Top Executive: Tyler D. Nunnally - (USA)

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