From IRIS
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Summary: As Oliver brought to America’s attention, the widely-anticipated Labor Department changes to how financial advisors can counsel clients on retirement assets (commonly called the DOL rule) will begin to take effect in a year. This new conflict-of-interest—or fiduciary—rule requires all professionals to recommend what is in a client’s best interest when providing advice on 401(k) assets, individual retirement accounts or other qualified monies saved for retirement.
From On Wall Street
Added on September 2016 in Form an RIA
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Summary: Leaving a financial advisory firm to strike out on one’s own may sound alluring, no bosses micromanaging, no useless meetings eating up time and no corporate constraints on the advice given to clients.
From WealthManagement.com
Added on September 2016 in Form an RIA
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Summary: According to a recent survey conducted by WealthManagement.com and Advicent, half of advisors expect the ruling will force them to change their policies and procedures, complicate compliance and create more paperwork.
From Think Advisor
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Summary: Global analytics firm Cerulli Associates projects that the independent registered investment advisor (RIA) and hybrid RIA channels combined will increase their asset market share from 23% in 2015 to 28% in 2020 – likely outpacing wirehouses.
From InvestmentNews
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Summary: Last year, the North American Securities Administrators Association — the organization representing state securities regulators — adopted a model rule to require state-registered investment advisers to establish business continuity and succession plans in the event of a natural disaster, cyberattack or other business disruption such as the death of the owner of a sole proprietorship. State regulators are in the process of approving the model rule, which could take several years or longer to take effect across the country.
