Practice

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.

"If rules are too broad or vague, we may end up circumscribing conduct that we never intended to capture,” Commissioner Allison Herren Lee said.

Roughly two-thirds of the $1.2 billion contributions to the firm in 2019 came from appreciated assets.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

New hires follow two big additions last month that had AUM topping $2 billion.

“It is shocking — never seen anything like it in my 40 years as a lawyer,” the wealth manager's attorney said.

Mutual funds and ETFs are often created with lopsided or unequal allocations toward certain sectors of the economy, experts warn.

The custodian is introducing a subscription fee and zero-commission model for advisors.

“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.

Wealth management firms have a “massive opportunity” to use new methods of reaching clients and the wider industry, FiComm Partners CEO Megan Carpenter says in an episode of Financial Planning’s In|Vest Podcast.