Practice

Rep. Ann Wagner of Missouri called on Congress "to stop this ill-advised rule."

The program allows retiring advisors and their junior brokers to work out their own financial arrangements during the first two years of the five-year program.

“A great win for the middle class," a proponent says, as others note the changes already occurring at planning firms.

The advisor often feels as if the bank's viewpoint is this: “Thanks for bringing us a revenue stream, now leave and be thankful we even gave you a job.”

Voices: The fiduciary rule is not complicated. If you don’t want the responsibility of being an advisor, don’t call yourself an advisor or imply you are one.

Readers are split over using Excel for financial planning. Some extol the simplicity of spreadsheets, others are firmly of the view that financial planning software is necessary for advisors to remain relevant.

As the fiduciary rule pressures firms to develop products and platforms, they must realize I.T. has a seat at the table in the decision process, says Putnam Investment's new chief technology officer.

The timeline for implementation is extended, and proprietary products won’t be effectively banned.

Voices: Abuses in investment advice need to be stopped. But a law without teeth is worse than no law at all.

At the end of the day, manager selection is all about damage control.