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A top lawyer for the industry regulator says it would be happy to help after a congressman calls on the agency to assume advisor exams.
"Advisors that know their clients can smell when something's up," says regulatory and compliance consultant Daniel Bernstein.
Co-sponsor of legislation to derail Labor Department's fiduciary proposal admits that the bill's greatest goal is to put political pressure on the administration.
Discussions about cognitive impairment and end-of-life issues might be difficult, but they need to happen, and could yield an upside for the advisor's practice.
The revised proposal would require brokers to disclose to clients the compensation they receive when jumping to a new firm.
Richard Ketchum voices support for SEC to move on a uniform fiduciary standard for brokers and advisors, while warning of unintended consequences from DoL's proposal.
Experts say the vast majority of abuse cases involve family members and close friends or associates, but financial professionals play a part, too.
Experts cite challenges in building and prosecuting cases involving elder financial abuse, suggesting advisors need policies and procedures to spot and report issues as they arise.
Investigating potential elder abuse can be tricky, particularly when dealing with a long-time client who might be suffering from cognitive impairment.
Federal and state examiners still see compliance failures when advisors take to social media to promote their practice.
State securities officials are drafting a model rule that would provide advisors cover if they delayed a transaction when they suspected the client was the victim of exploitation.
Vanguard, BlackRock executives argue that regulators considering bank-like oversight of mutual funds are misreading the industry and inviting unintended consequences.
Chairwoman re-ups support for uniform fiduciary standard for advisors and brokers, but says it will only be effective if examinations increase.
Walter Bettinger argues robos might work for "a very small percentage of people," but not for the overwhelming majority of the investing community.
The common experiences of this younger generation makes them a different type of client than the traditional U.S. investors.
As new state regulations loom, experts caution that examiners already expect advisors to have a business continuity and succession plan in place.
The wife of Home Shopping Network co-founder Roy Speer is seeking upwards of $170 million in damages for excessive trading and breach of fiduciary duty in a case pending before FINRA.
The commission alleges that the advisor and his associates defrauded investors by concealing key information about unpaid debts in two rounds of securities offerings in farm loan ventures.
The association of state securities regulators has proposed a rule that would compel advisors to maintain formal business-continuity and succession plans.
Amid flagging confidence in retirement security, advisors can change the conversation by focusing on outcomes and planning for sustainable income.