Fiduciary standard

Industry groups warn of creeping fiduciary obligations, while consumer advocates see it as a setback for investor protections

The party’s draft party platform criticizes lax standards implemented by the Trump administration, and vows to strengthen Social Security.

The current proposal “would lead to worse outcomes for plan participants as plan sponsors shied away from assessing ESG risks in selecting investments,” the research firm says.

Northwestern Mutual’s practices raise difficult questions about the nature of retail advice just as wealth management faces greater scrutiny under new rules.

The Labor Department’s short comment period is one reason to get up to speed, fast.

The announcement was welcomed by Wall Street lobbying groups, some of whom sued to vacate the Obama-era regulation.

A Democratic-led SEC could revisit Reg BI, advocacy groups and industry observers say.

Many financial advisors aren’t aware of serious conflicts of interest affecting the majority of retail clients, Northeastern University Professor Nicole Boyson says in a Financial Planning Podcast.

Firms are spending millions to comply with a controversial rule that is facing a legal challenge while state regulators push their own stringent regulations.

The firm detailed its strategy for complying with the SEC’s regulation ahead of its June 30 enforcement date.

Restoring fee-model disclosures to its website is just the first step in correcting the organization’s “monumental failure,” according to fiduciary watchdog Ron Rhoades.

The decision does not diminish the board's conviction that consumers have a right to know how they are paying for products and services, writes the former board chairwoman.

“The only reason why I could see them doing that is shame,” one critic says of the move; the board calls it an important shift in the conversation about fiduciary care.

The commission “failed to enact a meaningful conduct rule,” state regulator William Galvin says.

Trade groups warn that a proposal could end commissions in the state and play into a "fractured" regulatory environment nationwide.

SEC-mandated disclosures for dual registrants could put clients off brokerage options, some suggest.

Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.

While these 20 dizzying changes will throw some for a loop, financial advisors and their clients grow more powerful each year.

Businesses, particularly small ones, are looking for help to limit liability when sponsoring defined contribution plans.

“We all agree a conflict could arise in the future,” Schweiss says. “There are ways of potentially dealing with that.”