From InvestmentNews
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Summary: Financial advice requires boatloads of paperwork, but two little known fintech firms have been working for 20 years to make it easier. They likely are the most widely used adviser technology firms in the market — even if most advisers don't even know their names.
From ThinkAdvisor
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Summary: During a question and answer session at a Regulation Best Interest seminar held by the Securities Industry and Financial Markets Association at WilmerHale in Washington, Brett Redfearn, director of the SEC’s Division of Trading and Markets, said that while the agency “talked about a uniform standard” for brokers and advisors while crafting its four-pronged advice-standards package, “it became very clear to me in the early stages these are different forms of advice” offered by advisors and brokers. “There was no magic in the term fiduciary,” Redfearn said, adding that it “was not clear that everybody had a clear understanding of what fiduciary meant.”
From InvestmentNews
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Summary: With the July 4 holiday fresh in our minds, it strikes me that the word "independence" by itself no longer accurately describes the phenomenon that is changing the wealth management industry today.
From WealthManagement.com
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Summary: [Podcast] One of the top concerns we hear from advisors considering independence is, “How can an independent firm possibly compete on a technology level with the wirehouses?”
From Financial Planning
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Summary: That the SEC had to furnish a reassuring answer this week — to a question about a status quo never before in doubt — is another sign of the upheaval generated by the commission’s new Regulation Best Interest rules package.
