The SEC has proposed changes which it says will simplify the form which mutual funds use to wind up business. The proposed amendments to Rule 8f-1 under the Investment Company Act and Form N-8F simplify and reorganize the form which funds use to de-register, the SEC said in a statement late last month. The industry had until Feb. 5 to comment on the proposal.
As judges have shown in other recent cases involving UBS and Stifel, firms have a high bar to clear if they want an arbitration award vacated.
In an unusual development, LPL saw its advisor total decline slightly in the first quarter. And client assets brought in through advisor recruiting were down 55% year over year.
Still, the number of widows who leave advisors is three times higher than the industry average. It doesn't have to be that bad.
The new money will be used primarily to pay off investors who provided capital when Reverence first bought a majority stake in the former Advisor Group in 2019.
When the same buzzwords — "fiduciary," "holistic," "goals-based," "client-driven" — appear on most wealth firms' websites, they do little to help firms stand out in a crowded market, experts say. There are, however, tactics that work.
The influential planning entrepreneur and the FPA are leading an effort to change a tiered fee structure for continuing education providers that started three years ago.
