Nation's largest independent broker-dealer faces an ugly lawsuit, high turnover and stalled growth. And that's just for starters. </br><b><i>(Related read: <a href="http://www.investmentnews.com/article/20160403/FREE/304039998/the-lpl-stock-buyback-that-launched-a-lawsuit" target="_blank">The stock buyback that launched a lawsuit</a>)</b></i>
The $350M firm was concerned with joining a firm that could successfully navigate the DOL fiduciary rule.
New reg mandates changes to customer account statements that better reflect true value of nontraded REITs.
But state agency says it is adjusting to court's admonishment on adviser's free speech rights.
The retirement-services space has reached the point of creative destruction, where innovation eliminates old businesses and creates new ones.
Plus: Measuring Jim Cramer's performance, personal finance myths, and Social Security misconceptions
Christopher Pierce allegedly stole from customers at Wells Fargo Bank
At the moment, however, many advisers are taking a wait-and-see position.
Sen. Johnny Isakson, R-Ga., said the Senate likely will vote on a resolution of disapproval. He also plans to advance a separate bill to halt the regulation. <b><i>(More: <a href="//www.investmentnews.com/article/20160510/BLOG07/160519983/this-insurance-group-likely-to-be-first-to-file-dol-fiduciary-lawsuit"" target=""_blank"" rel="noopener noreferrer">This insurance group likely to be first to file DOL fiduciary lawsuit</a>)</i></b>
Rep. Phil Roe, R-Tenn., says his own bill to kill the rule will fail, but supporting the Republican candidate could work to gut the regulation.
The ACLI is champing at the bit to get legal action started, but it likely wants to know which other groups will be running before it starts its own race.
Many see the new regulation speeding up a shift toward fee-based relationships as commissions become increasingly scrutinized for conflicts.
President Barack Obama will veto a House resolution designed to kill a Labor Department rule to raise investment-advice standards for retirement accounts, the White House said Wednesday.
Thomas Perez gets high marks for guiding the fiduciary rule through the regulatory shoals, but supporters question whether he gave away too much.</br><b><i>(More coverage: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">Everything you need to know on the DOL fiduciary rule</a>)</b></i>
Additional hoops to jump through to show regulators they are fiduciaries have fee-only advisers worried.
Being on the side of the argument that says you do not have to act in the best interests of your client is laughable.
The long-term effects of the decisions made will shed light on the effectiveness of this period of economic history
The three-time Masters champion hasn't been accused of wrongdoing, but is named in the complaint involving Dean Foods Co. and gambler William “Billy” Walters.
A large portion of the money raised was never invested, the SEC alleged.
