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BY NAPA Net Staff 2/20/2018
Fred Reish takes on another fiduciary rule myth in his latest “interesting angle” post.In his latest blog post, Reish focuses on the issue of “reasonable compensation” for RIAs, broker-dealers and their advisors for their services to retirement plans and IRAs (“qualified accounts”), and what, if...
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BY Ted Godbout 2/20/2018
“Understandability” and fee clarity tied for what consumers want most from their financial services firms, according to Hearts & Wallets’ eighth annual customer satisfaction ratings.Based on more than 5,000 U.S. household ratings of top performers on everything from providing personal financial...
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BY Nevin E. Adams, JD 2/20/2018
Last week the Massachusetts Securities Division filed charges against Scottrade for knowingly violating its internal policies regarding implementation of the DOL fiduciary rule – an action that plaintiffs seeking to overturn that rule say validates their concerns.Those concerns – outlined in a...
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BY John Iekel 2/20/2018
The New Jersey Treasury Department is reviewing responses to its request for information (RFI) from private-sector firms to provide investment products for the Garden State's Small Business Retirement Marketplace. It issued the RFI on Jan. 9 and accepted responses through Jan. 26.The state Treasury...
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BY Nevin E. Adams, JD 2/20/2018
About a year ago, I was asked by an advisor if we had ever written anything about the potential pitfalls of hiring a relative as a plan advisor.We hadn’t, as it turns out, in no small part because some things just seem (painfully) obvious to me – but it resulted in a column that, as I tried to...
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BY NAPA Net Staff 2/20/2018
There have been banking scams from Nigerian princes, phishing schemes ostensibly from the IRS, software update alert calls allegedly from Microsoft and now we apparently have fraudulent investment pitches from… FINRA.That’s right – the Financial Industry Regulatory Authority (FINRA) has issued an...
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BY Ted Godbout 2/16/2018
Workers who have participated in an employer-sponsored plan are much more likely than those who have never participated to report that they have recently tried to figure out how much retirement income they will need, according to new research.Overall, 41% of those with access and currently...
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BY Nevin E. Adams, JD 2/16/2018
The Massachusetts Securities Division has filed charges against a firm for knowingly violating its internal policies regarding implementation of the DOL fiduciary rule – and taken a shot at the Labor Deparment.Specifically, Commonwealth Secretary William Galvin, the state’s top securities regulator...
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BY NAPA Net Staff 2/16/2018
Please note: On Saturday morning we will be performing some minor system upgrades. While we don’t anticipate any disruption in service, you might experience slower response times during this period.
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BY Nevin E. Adams, JD 2/16/2018
Once primarily associated with passively managed investment strategies, interest in collective investment trusts, or CITs, is said to be increasing – but have we reached an adoption tipping point for CITs?Well, according to respondents to this week’s NAPA Net reader poll… it’s not altogether clear....
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