News Roundup (677)
Debate Rages Over Fiduciary Standard’s Impact on Middle Class
- Saturday, 21 September 2013
- News Roundup
- Written by PFA News
Some opponents of extending fiduciary standards to broker-dealers say the additional regulation and its associated costs would cause advisors to abandon middle-income clients. Other intermediaries have too much at stake to walk away from the market segment, Reuters reports.
Read more...Same-sex Couples Are Covered by ERISA
- Saturday, 21 September 2013
- News Roundup
- Written by PFA News
The Department of Labor (DOL) has ruled that ERISA regulatory terms such as “spouse” and “marriage” apply to same-sex couples that are legally married. So reports BenefitsPro.
Read more...Florida Couple Sues CFP Board Over Fee-Only Dispute
- Saturday, 14 September 2013
- News Roundup
- Written by PLP News
A Florida husband and wife team has filed litigation seeking to prevent the CFP Board from disciplining them for an allegedly improper use of the “fee-only” description for compensation. So reports Financial Planning.
Read more...Retirement Fund Axes Manager over Prostitution Charges
- Saturday, 14 September 2013
- News Roundup
- Written by PLP News
The Cincinnati Retirement System has fired Common Sense Investment Management after the firm’s founder, James Bisenius, was arrested in a prostitution sting. So reports rtv6.
Read more...Gen X Short on Life Insurance
- Saturday, 14 September 2013
- News Roundup
- Written by PLP News
New York Life Insurance Co. and The Futures Co. estimate that the average life insurance shortfall for members of Generation X is $448,996. So reports InvestmentNews.
Read more...Census Bureau Paints Dim View of Americans’ Finances
- Saturday, 14 September 2013
- News Roundup
- Written by PLP News
The U.S. Census Bureau estimates the number of American households falling short of meeting basic expenses grew 16% from 2005 to 2011. So reports Financial Advisor.
Read more...Investment Manager Admits to $72M Scam
- Friday, 06 September 2013
- News Roundup
- Written by PFA News
Houston-based investment manager Robert Andres has pleaded guilty to participating in a $72 million investment scam. So reports the Federal Bureau of Investigation.
Read more...Investment Management Firms Face Lack of Trust: Study
- Friday, 06 September 2013
- News Roundup
- Written by PFA News
Among respondents to a recent CFA Institute/Edelman Investor Trust Study, only 53% of investors say they trust investment management firms to do the right thing.
Read more...FPA Drops Salary as Compensation Option for Disclosures
- Friday, 06 September 2013
- News Roundup
- Written by PFA News
The Financial Planning Association has dropped “salary” as an option on its compensation disclosure template, leaving advisors with “fee only,” “commissions,” and “combination fee/commissions” as options. So reports Financial Planning.com.
Read more...Use of Home Equity Loans Surge
- Saturday, 31 August 2013
- News Roundup
- Written by PFA Staff
Home equity loans issued by Wells Fargo reached $2.2 billion during the second quarter of 2013, up from $1.5 billion during the prior quarter as rising home values are making the loans more popular. So reports Marketwatch.com.
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