In the past, a financial professional typically included someone who hung out a shingle, received their respective licenses and/or accreditations, and sat across the table from their clients holding their yellow pad and
Non-integrated software is like buying a bathtub and filling and draining it with a bucket!
On April 25th, 2024, the Department of Labor published its final version of the Retirement Security Rule and the related exemptions to the Federal Register. The regulation defines what constitutes fiduciary investment ad
Regulation Best Interest (Reg BI) was adopted by the Securities and Exchange Commission on June 5, 2019. The intent was to institute a “best interest” standard for recommendations to retail customers by broker-dealers...
April 1st, 2024 | Scott Miller, Product Manager, CapitalROCK
On October 31st, the Department of Labor released the proposed Retirement Security Rule, redefining the qualifications for fiduciary education vs advice. With the new definition, the financial services industry is forced to reconsider a question that has repeatedly resurfaced over the last three decades.
I have heard, when talking to our clients and other industry professionals, discussion about Reasonably Available Alternatives (RAA) and the question of “what level of alternatives is needed to comply with Reg BI?” I ...
The idea behind RAAs, is that Financial Professionals are required to abide by guidelines that encourage a transparent annuity selection process, thus making sure that clients are presented with profile matching optio...
The most recent proposal from the U.S. Department of Labor (DOL) issued on October 31, 2023, is another step to define and refine the concept of “who is an investment advice fiduciary under the Employee Retirement Inc...
The Department of Labor is still deciding, again, on the scope of transactions financial institutions and their representatives qualify as acting financial advice fiduciaries. The status quo is currently changing this...
Do you feel like the Financial Industry’s regulatory environment is increasingly changing? It certainly feels like it. Especially, when considering legislation involving suitability, consumer protection, and best inte...
For most people in 2023, Halloween was a holiday where they enjoyed festivities such as handing out candy and carving pumpkins. However, for financial services professionals, it was a highly anticipated announcement o...
During a recent national compliance conference, I attended multiple sessions on reasonably available alternatives (RAAs). I found it interesting how, after a long presentation from the panelists on some high-level inf...
When Reg BI came into effect on June 30, 2020, many broker-dealers were not ready. Among the crowd that thought they were ready, most would tell you that after their first few exams, they still had some work to do. We...
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