Compliance

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.