Compliance

The widespread popularity of the compensation descriptor, long ballyhooed by RIAs, ultimately proved problematic for the CFP Board which has updated its standards.

“The face of our industry is typically not me,” says the Vanguard and DFA veteran. “I thought about how many young people that I could inspire. So I raised my hand.”

The rep defrauded clients with promises of a “lucrative investment” tied to the popstar that would also “help needy people,” according to regulators.

Wealth management firms should define success by how well their operations perform under pressure, Kestra Financial COO Kris Chester says in an episode of Financial Planning’s podcast.

Secretary of Labor Eugene Scalia said retirement plans aren’t for “furthering social goals or policy objectives that are not in the financial interest of the plan.”

The board is “decisively moving away” from allowing advisors to self-disclose, CEO Kevin Keller says.

SagePoint Financial failed to adequately supervise reps who recommended that clients exchange the products before maturity, the regulator says.

The change is one of several made to the board’s disciplinary reporting process following a report by an independent task force that found “systemic, long-standing, governance-level weaknesses.”

The onetime CFP pleaded guilty to violating his parole after previously avoiding prison time through a plea deal in 2018.

Firms founded by Jason Wenk allegedly failed to oversee a former advisor accused of investing clients in unregistered securities.

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.

Despite recent upheaval, some clients will still be shocked their portfolios have shown declines.

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

My broker-dealer warned that since it’s a forgivable loan it could be seen as a compromise with creditors.

Financial advisors choose technology the way cyclists pick out their rides, Riskalyze Managing Director for Enterprise Services Dana Rhodes explains in a Financial Planning podcast.

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

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

Compliance attorneys for large wealth managers outline which questions are critical in light of the substantial regulatory requirements.

Organizations and firms are donating N95 masks, providing resources at no cost and taking steps to protect employees and practices nationwide from the spreading pandemic.

FSI aims for a pragmatic approach when advocating on behalf of more than 90 independent broker-dealers and 30,000 financial advisors, Deputy General Counsel Robin Traxler says in an episode of the Financial Planning podcast.