Critics have long claimed that advisers should not be allowed to charge performance-based fees when working with unsophisticated clients. Now, the SEC has weighed in, dramatically increasing the net-worth a client must posses to qualify for such a pricing arrangement.
Increasingly, brokerages are being stiffed by ex-reps who were given hefty loans as recruiting incentives. SIFMA wants Finra to write a tougher rule to help battle deadbeat brokers. So far, no dice.
The deal is the first wealth management acquisition for AMG, which owns stakes in 27 boutique money managers that have a total of $338 billion under management.
After being dead wrong for years, bond bears are feeling more confident going into the weekend. The Treasury market sold off big this week, taking the benchmark 10-year yield up 26 basis points to 2.29%, a four-month high.
Inflation appears tame on the surface, but Robert Arnott remains an inflation hawk.
State securities regulators sometimes must feel like schoolyard weaklings, constantly being picked on by the bigger guys in the political playgrounds of Washington.
Strength despite Greek woes might indicate that the worst is over
Morningstar issues warning about 'staggering' inflows into taxable debt funds
Plenty of business for the taking, says ex-head of Schwab Advisor Services; 'a lot of meat on the bone'