In its arbitration claim, Schwab accused Morgan Stanley and the two brokers who joined Morgan Stanley of violating a non-solicitation agreement.
Some business owners are able to accumulate more retirement savings in the vehicles than in a SEP IRA, and such funds can also become part of a Roth IRA rollover strategy.
The annuity sector trade association is advocating for legislation that would mandate retirement plans for small employers that don't have them, as well as bills that would increase the use of annuities.
A Republican resolution to kill the DOL ESG rule could come up for a vote soon. Democrats counter with legislation to codify the regulation.
An attorney for the independent reps said the decision has implications for the entire sector. The brokerage, NexTrend Securities, may seek to vacate the award.
The SEC has proposed using swing pricing and a hard close for share purchases to protect investors during market meltdowns. Critics warn changes could ruin mutual funds.
The agency is considering extending the regulation to cover all assets in a client's portfolio, not just securities and funds.
Dominic Ismert's attorney said the recommendation to invest in an oil fund was made 'off the cuff,' without appropriate research and analysis of whether it was suitable for him.
The American Securities Association had filed suit alleging that a DOL document improperly claimed that a one-time recommendation to transfer assets from a company plan to an IRA triggered fiduciary duty.
Dattomo, a longtime executive for medical associations, takes over from Geoffrey Brown, who departed NAPFA in November to become CEO of the Illinois CPA Society.
