Practice

Wealth management firms seeking to recruit new advisors need to first develop a clear business strategy, executives tell attendees at Schwab Impact conference.

In a business update to CFP holders, the board presents research on its Let's Make a Plan campaign, clarifies its fee-only position -- and skips a discussion of recent controversy.

Despite a recent show of political opposition, the Labor Department seems poised to press ahead with a proposal to broaden the definition of fiduciary to cover advisors working in the retirement plan segment, a leading opponent of the measure warns.

The new model has to be able to serve clients "any time, any place and anyhow," said Bernie Clark, the head of Schwab Advisor Services at the financial service giant's annual Impact conference in Washington, D.C.

Brits May Cap Retirement-Plan Fees, Should We?

Banks nationwide agree: Costly branches must evolve to accommodate modern times, but question marks remain on the how. Higher functioning ATMs, tablet-equipped employees, and video tellers are some of the ways financial institutions are testing out new branch models.

BofA Should Pay $863 Million in Fannie Mae Case, U.S. Says

FINRA's Watch Over Funds

The answer rests not with the firms but with advisors themselves, says James Kerr, president of Davidson Companies.

Bank of America should pay the maximum penalty of $863 million for selling defective loans to Fannie Mae and Freddie Mac, given the egregiousness of the fraud, U.S. prosecutors told a federal judge.