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

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

Members of Congress question whether the company is doing enough to protect inexperienced customers engaging in high-risk investing.

The company allocated $5.1 billion for loan losses in the second quarter, the most since 2010.

“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 firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

A class action asserts that the data aggregator accesses more of consumers' bank account information than it needs and ultimately aims to sell the data to others. Plaid, which has agreed to be sold to Visa, denies the allegations.

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.

Coronavirus-related distribution provisions can now be returned and there’s a larger pool of recipients eligible for relief. Here’s what advisors need to know

In a sign of long term changes and pivotal questions for the industry, the difference between the amount of fees and commissions in the sector has nearly doubled.

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

The Labor Department’s short comment period is one reason to get up to speed, fast.

The price hikes would come as early as 2022, and follow a budget deficit in 2019.

The extension to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.

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.

The announcement was welcomed by Wall Street lobbying groups, some of whom sued to vacate the Obama-era regulation.

Michael Kitces, co-founder of XY Planning Network, says the group is mulling its options after a federal court struck down the organization’s lawsuit against the SEC rule.

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.

As the industry pushed to comply with the fiduciary rule, new issues emerged.