Observers say the proposal could open up areas of arbitrage, depending on how it's drafted.
The firm is one of the last holdouts to launch CITs, signaling increased demand for the investment vehicle.
Fiduciary advisers should be weighing the risks and upsides of securities lending.
Observers say the proposal could open up areas of arbitrage, depending on how it's drafted
These investments will make sense mainly for ultrahigh-net-worth clients, at least initially, according to tax experts.
The program will close in September, though some aspects such as participant education still will be available to advisers.
Advisers can use a mathematical formula to more safely guide a client's retirement income portfolio.
The organization set up a new group, the FPA of Metro New York, which is in the process of establishing a board of directors.
The new language, which is still subject to change, explicitly states what had largely been assumed.
The decisions mean the continuation of many services put in place due to the DOL fiduciary rule.
