Added on March 2018 in Form an RIA
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Summary:Against an ever-expanding backdrop of mergers, acquisitions and industry consolidation among both broker-dealers and RIAs, a common view is that the solo advisor is doomed. Whether due to the burdens of managing the firm, meeting the rising volume of fiduciary compliance obligations, handling increasingly complex investment or insurance solutions or just doing the planning work in the first place, the presumption is that solo planning is simply becoming untenable — or at least impossible to perform in a cost-effective manner.
Added on March 2018 in Form an RIA
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Summary: The U.S. Court of Appeals for the Fifth Circuit struck down the Department of Labor’s Fiduciary Rule, stating that it was “unreasonable’ that brokers handling investors’ retirement savings should be required to only act in clients’ best interest.
Added on March 2018 in Form an RIA
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Summary: Fidelity recently surveyed a group of financial advisors across different segments of the business about the impact of major firms leaving the Protocol for Broker Recruiting.
Added on March 2018 in Form an RIA
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Summary: As might be expected, brokers are not especially keen on securities firms leaving the broker protocol, but a new survey from Fidelity finds that firms opting out of the protocol are not likely to prevent reps from leaving.
Added on March 2018 in Form an RIA
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Summary: The traditional asset-based fee model for wealth managers is showing its age, falling behind the times, according to a new report from global consulting firm Simon-Kucher & Partners.
