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Summary: Starting your own practice takes time, money … and some fraught decisions, according to seven advisers familiar with the experience.
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Summary: Dynasty Financial Partners won the account of yet another $1-billion-plus breakaway team but its first poach of the esteemed Goldman Sachs & Co. The New York-based firm landed the new team, DG Wealth Partners, which consists primarily David Darby, 43, a magna cum laude Brown University graduate who worked at Goldman Sachs Private Wealth Management for 21 years, most recently from its Palm Beach office.
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Summary: While the Department of Labor’s fiduciary rule takes effect next Friday, the Securities and Exchange Commission is asking the public for help shaping future regulations for the investment advice industry. The last time the agency issued such a request for information was in 2013, when it collected data and information related to the rules governing investment advisors and broker/dealers. A lot has changed since.
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Summary: Advisers who are going independent need to keep a long-term vision for their practices in mind, and not just select technology based on price, Eric Clarke, CEO of Orion Advisor Services.
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Summary: Advisers snapped to attention when Secretary of Labor Alexander Acosta said in a surprise commentary in The Wall Street Journal that the Department of Labor would not further delay the first stage of the fiduciary rule's implementation. The Labor Department did back off some of the compliance requirements for the rest of this year, however, and said it plans to collect more information. What does this mean for advisers and other wealth management specialists? Scroll through to see 10 things you need to know right now about the fiduciary rule.
