Articles tagged "DOL"
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To the surprise of some, Dept. of Labor grants get-out-of-DOL-rule-jail card to 225,000 firms that dabble in the 401(k) business
Without recent guidance, 401(k) specialists were set to devour one-off accounts held by brokers but new DOL rule guidance offers well-lit path to build toward a far larger 401(k) practice
August 15, 2017 at 12:54 AM
In letter to RIABiz, Ron Rhoades reacts to the ardent DOL rule detractor commandeering the White House microphone
Citing the new voice of the White House as 'contrary' in his comments regarding the Labor Department's efforts to shift Wall Street's culture and ways, the fiduciary scholar beseeches Scramucci to think it over
July 22, 2017 at 12:02 AM
Anthony Scaramucci tweets his way to Donald Trump's side after flaming out of investment business
After jumping into the fray to defend Donald Jr. on Twitter, 'the Mooch' -- once (maybe twice) fired as a Goldman Sachs broker -- will craft communications for Donald Trump as financial and legal smoke threatens to burst into flame
July 21, 2017 at 11:45 PM
LPL Financial's DOL-rule memo to reps implies deeper message: Become an RIA or stand down on giving rollover advice
The 'deep-pocketed' broker-dealer puts its Series-7 brokers on notice to forget about suggesting a rollover even as it gives its hybrid RIAs a strict protocol to stay out of trouble
July 5, 2017 at 8:02 PM
The CFP Board's thunderbolt fiduciary play should proceed and likely will
The 'fiduciary at all times' approach is likely to be supported by the 77,000 CFPs themselves, if opposed by insurance lobbyists and their ilk
June 20, 2017 at 8:33 PM
Why an RIA's willingness to get fired by clients is a mandatory mindset -- now especially under the DOL rule
Yet the advisor may still be to blame for their own 'principled' dismissal before making a real effort to get at the underpinnings of a client's thinking
June 13, 2017 at 7:11 PM
Buried in 11th hour FAQs, Alexander Acosta finally zaps 'warranties' from the DOL fiduciary rule -- at least for June 9 implementation
The hyper-explicit fiduciary promises at Obama-era rule's heart survived multiple rounds of edits but quantity and specificity of language surrounding suspension of warranties suggests they'll eventually come back full force
June 2, 2017 at 6:19 PM
In echo of DFA-RIA custody strife, Morgan Stanley nixes new Vanguard mutual fund account openings
As the idea of a fund shelf diminishes, the Malvern, Pa.-based firm's refusal to pay such fees earns cold shoulder from the top New York wirehouse
May 4, 2017 at 10:56 PM
RIA lobby fires off letter to DOL claiming rules aimed at reining in overzealous stockbroker sales pitches chill RIA conversations with their prospects
The IAA's letter to the Labor Department asks that RIAs not get entangled in rules designed to prevent stockbrokers from making misleading pitches
April 20, 2017 at 5:16 PM
'Poof, it's gone!' DOL quietly strips two heavy lifts from the fiduciary rule as it makes delay official
The Department of Labor effectively makes the 60-day delay into a 270-day one as part of document that was supposed to only formalize the postponement until June 7
April 5, 2017 at 7:41 PM
How the DOL rule postponement is a blessing for RIAs that 'took their foot off the gas' -- and why Vanguard sees such delays as a creeping menace
The Feb. 3 Trump executive order offered grounds for the pause but Bill McNabb warns this delay may beget a never-ending death spiral of delays and 'troubling' uncertainty
March 29, 2017 at 11:06 PM
The takeaway from Friday's DOL rule guidance is 'significant'
The big concern for advisors pre-BICE exemptions was DOL itself, which assures now that it'll turn a blind eye in 2017 -- even to issuing disclosures
March 13, 2017 at 7:50 PM
How Trump's backtrack on DOL rule burned his most ardent anti-rule supporters and the opening Elizabeth Warren is exploiting
Threat of losing DOL rule sparks a new public consciousness and the Massachusetts Senator gives shout-out to Betterment, XY Planning and BlackRock
February 7, 2017 at 10:46 PM
Trump's DOL-rule hit man, Anthony Scaramucci, gets hoisted, reportedly, for financial conflict of interest
The hedge fund owner who compared the Labor Dept.'s attempt to bring fiduciary care to more assets to the infamous Dred Scott decision is being dinged, ostensibly, for a business combination with Chinese Communists
February 2, 2017 at 7:02 AM
The time is now for the investment industry to shed its shameless culture or pay a steep price
Enough feeble excuses and convoluted rationalizations for delaying the DOL rule
