Fee disclosures

The case against Centaurus Financial comes after the industry and consumer advocates decried the previous administration’s approach for different reasons.

The litigation reveals how wealth managers’ deals with product sponsors work and how one with a former Voya unit went awry.

The moves come just one day after BlackRock announced reductions on $7.6 billion of its style funds.

The firm has been locked in a contest with runner-up Vanguard for flows, with the latter winning last year for the first time since 2013.

SEC cases that go beyond faulting firms for their failure to disclose conflicts of interest have drawn pushback from the industry.

The allegations involving 12b-1 fees, cash sweeps and commissions also include violations of best execution rules.

In a bid to attract clients left out by AUM fees, IBDs are enabling advisors to take approaches first made popular in the full RIA channel.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

CEO Jamie Price says the change will reduce potential conflicts of interest related to transaction fees and come with lower prices in wrap accounts.

Lower transaction costs can often come with higher expense ratios at the nation’s largest IBD.

The regulator charged a $1.4 billion hybrid firm over disclosure of its cash sweep arrangements with its clearing firm.

A combination of GLD’s higher fees and an almost relentless demand for the yellow metal have catapulted it from fourth on the revenue leader board in 2017.

The firm allegedly didn't disclose its parent company paid a teacher union entity $10,000 a month “for its exclusive endorsement” as its preferred financial services partner, according to the regulator.

Northwestern Mutual’s practices raise difficult questions about the nature of retail advice just as wealth management faces greater scrutiny under new rules.

Affluent investors are concerned about transparency, performance and value, according to a new report by Capgemini.

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.

“This is all about having the flexibility and having multiple options for our investors,” says GSAM’s head of ETF strategy.

Analysis of their performance — and fees — may reveal some surprises.

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

With the industry facing ridicule for high fees and low returns, clients have pulled a net $33 billion from the industry in the first quarter, the most over a decade.