From WealthManagement.com
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Summary: The U.S. Fifth Circuit Court of Appeals issued a mandate Thursday, making effective its March 15th decision to void the DOL fiduciary rule. The rule effectively died on June 13, when the DOL allowed the deadline to appeal the aforementioned decision to the Supreme Court to pass. This inaction came as no surprise to most, given the Trump administration’s general hostility towards regulation in general and the rule in particular.
From InvestmentNews
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Summary: As wealth managers consider a move to independence, they come to Pershing with questions about the economics of different business models. And rightfully so, because of all the issues advisers have to address in a transition, nothing comes close to the importance of deciding on the business model.
From InvestmentNews
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Summary: Fed up with what they say is the expense and headaches of operating under the Financial Industry Regulatory Authority Inc., an increasing number of broker-dealers of substantial size that are also registered investment advisers — so-called hybrids — are considering moving to the RIA channel exclusively.
From InvestmentNews
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Summary: As regulators struggle to reform investment advice rules, a group of advisers and investor advocates is encouraging clients to seek a higher standard on their own.
From InvestmentNews
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Summary: The portfolio management software provider announced a new program on Wednesday called Fast Track to support advisers leaving wirehouses and broker-dealers with technology implementation, strategies and education for launching their own practice.
