Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
"One of the areas where we're actively looking for undisclosed and unmitigated conflicts is the trend among dually registered firms to move their clients from commission-based brokerage accounts to fee-based wrap accounts that offer advice and no commission trading for one bundled, asset-based fee."
-- Andrew Bowden, director of the SEC's Office of Compliance Inspections and Examinations, on how the regulatory body will be taking a hard look at dually registered firms and the use of non-traditional mutual funds.
Read the story:
Dual Registrants, Alternatives Top SEC's Concerns
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
"[FINRA] remains committed to getting authority over advisors. It's playing the long game. It's laying the foundation for a future lobbying effort, and it views advisors as both a regulatory and revenue opportunity."
-- Neil Simon, the Investment Adviser Association's policy chief, on the ongoing debate over FINRA versus SEC oversight for advisors.
Read the story:
SEC Oversight Advocates Push Fight to Next Level
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
Full and meaningful disclosure is a cornerstone of the markets. We see this cornerstone as being eroded.
-- Jason Doss, an Atlanta-based attorney and president of PIABA, on why FINRAs BrokerCheck service for investors is facing criticism on multiple fronts.
Read the story:
Why FINRA's BrokerCheck is Under Fire
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
"The average deal was a $1 billion or more RIA buying a mid- or smaller-size firm, a classic tuck-in. You didn't see as much peer-to-peer sales of firms, and RIAs moved ahead of roll-ups and other big strategic acquiring firms as the leading buyers."
-- Jonathan Beatty, senior vice president of sales and relationship management at the Charles Schwab division providing transition services to advisors, on 2013 emerging as "the year of the tuck-in" for RIAs.
Read the story:
Advisor M&A: Who's Buying RIAs Now?
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
Were definitely seeing an uptick in interest in the banks that we work with around what we call an RIA approach."
-- Mike Norton, head of the banking segment for Fidelity Institutional, on how bank executives are kicking their wealth management businesses into high gear.
Read the story:
Wealth Management on Pace to Become Growth Engines for Banks
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
"Anytime a smart and talented person with significant capital comes into the space, it's a further validation of the future of the independent channel. The lifeblood of the industry is assets, and asset flows are going to the independents."
-- RCS Capital chairman Nicholas Schorsch on why breakaway advisors may be playing a team game more often.
Read the story:
Merrill Breakaways Team Up to Partner With Dynasty
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
Executives today dont want a higher position so much as a broader position. They want to be stretched and challenged, and they want an opportunity to grow. They want to be able to help build a business, grow a company and develop new talent.
--Kathy Freeman, president and CEO of her eponymous executive search firm, on what top advisors really want.
Read the story:
What Top Advisors Want: Equity & Career Growth
Week's Best Quotes: 'Full and Meaningful Disclosure Is a Cornerstone of the Markets'
"There is real investment infrastructure being built in the [values-based investing] space. Investors are increasingly going to their advisors asking for us to include [these funds] in their portfolios."
--Ron Cordes, executive co-chairman of Concord, Calif.,-based AssetMark, which provides investment platforms to around 4,000 financial advisors, on why values-based investing is gaining steam.
Read the story:
Values-Based Investing Gaining Steam, Data Shows