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The RIA channel is set to be a source of headcount growth, while the wirehouses and broker-dealer channels are expected to be the biggest losers, according to Cerulli Associates most recent study -- but theres a silver lining for RIAs.
September 16 -
Members of Generations X and Y - people between 23 and 48 years old - who have $1 million or more in investable asset are more active in the markets, engaged in planning and philanthropy, informed, optimistic and collaborative than their baby boomer counterparts, according to a new survey by Fidelity Investments.
September 16 -
The IRS is providing guidance on the application of the market reform provisions of the Affordable Care Act to health care arrangements such as health reimbursement arrangements, employer payment plans and flexible spending accounts.
September 13 -
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Anti-money laundering policies were identified by both FINRA and the SEC as a top priority for examinations of broker-dealers in 2013. In its exam guidance, FINRA noted "an increase in foreign currency conversion transactions." It also stressed that there are no exemptions from the AML requirement for member firms, even if the company holds no customer funds.
September 13 -
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Bank of America Corp.s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.
September 13 -
Former CFP Board Chairman Alan Goldfarb was the first CFP holder ever to be publicly sanctioned for a compensation disclosure violation, the board has confirmed despite its assertion that he was not treated differently than other CFP holders.
September 13 -
Target Date Funds: Different Strokes for Different Folks
September 13
