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Articles tagged "SIFMA"


Michael Bloomberg: I don’t believe in automation for client service.

Michael Bloomberg steals the SIFMA NYC show by putting his finger on a great robo shortcoming
The Bloomberg founder dismisses auto-advice amid human brokers who cheered SIFMA's ability to keep change in check

Thursday 11.13.14
Paul Tramontano: Whenever we have a process or a system going exactly the way we want it, I tell my staff to break it and rebuild it.

$5 billion and $12 billion RIA principals tell worthy anecdotes (hint, Madoff), reveal secrets, to Barron's moderator at IMCA
Paul Tramontano and Ric Edelman topped a bill that offered a barn-burning tax talk from Kitces

Friday 5.9.14
Mary Jo White: Anytime you've got the same conduct regulated differently you need to take a close look and see what you should do.

After starring in New Yorker article, Mary Jo White holds SIFMA event spellbound and 'no-admit, no-deny' is still in play
The muscular prosecutor of security fraud and terrorism cases delivered roses -- and maybe some thorns

Wednesday 11.13.13
Ron Rhoades:  The broker-dealer, and its financial advisors, received way more compensation than the 0.85% annual amount they stated to Janet.

An X-ray of one affluent, educated and sophisticated investor's portfolio shows how it was chewed up by fees
Helping an ex-Fortune 500 retiree prepare for her appearance before Congress, the author waded through a mountain of paper only to discover that the woman was likely to outlive her portfolio

Monday 8.12.13
Before the lights went out: A consumer panel says what it knows about what it doesn't.

TD throws its first client-best-interest summit, a micro-event, by 'candlelight' in Palm Beach and ideas rise from the RIA deeps
As members of a consumer panel bitch creatively, fed up advisors dig deep for ideas that depend less on DC vicissitudes and more on RIA will and unity

Monday 6.17.13
Bill Dwyer is at peace with his decision to leave -- and it was his decision, according to John Hyland.

LPL's Bill Dwyer decides to call it quits and Robert Moore is taking over his duties
The make-it-happen statesman salesman atop a B2B selling scheme cedes control to a Mark Casady favorite

Friday 3.1.13
Knut Rostad: One unfamiliar with the nuanced differences in play may well ask, 'What, again, is wrong with being suitable?'

Op-Ed: The fiduciary standard is in worse shape than it was four years ago
The teachable moment of Lehman's collapse seems to have dissipated, and forces of dissimilation are winning the day

Friday 1.11.13
Douglas Hodge: We privatized profit and socialized losses.

New York conference: SIFMA wants members to be like RIAs -- minus the same rules of accountability
Alan Greenspan jumped in on the mea-culpa-fest that included bracingly frank comments from a top Pimco official

Wednesday 10.24.12
Steve Lockshin: We cannot be left to regulate ourselves.

Lockshin: All advisors must deal with the threat of low industry standards -- before investors do it for them
The gains of the last 20 years could be scuttled if advisors don't band together to raise the standards of training and education

Friday 8.17.12
Ron Rhoades: "Suitability" is a failed doctrine. FINRA itself is a colossal failure, by any measure.

An in-depth analysis of FINRA's attempted takeover of RIAs and why the group should be disbanded, Part 2
FINRA's aim is to stamp out small RIAs that compete with its large Wall Street firms. Don't let it happen, pleads NAPFA's new chairman

Thursday 5.31.12
Ron Rhoades: FINRA was already an expert at protecting its large Wall Street firms from competition.

Why FINRA's power grab for RIAs needs to be stopped to avert the death of the profession, Part 1
Looking back from the year 2025, the author recounts how FINRA seized regulatory control and crushed the life out the once-thriving RIA channel

Wednesday 5.30.12
Dan Moisand: They have the opportunity to stop it, or screw it up worse than they already have.

Fearful that the SEC has been overworked, lobbied and bullied into a SIFMA stupor, fiduciary crowd launches 16-page missile
Among other things, the letter calls SIFMA's idea of a uniform fiduciary standard a 'broker sales standard'

Friday 4.13.12
Ron Rhoades channels his inner Chekhov to envision a scenario arising from a uniform fiduciary standard as per SIFMA's wishes.

A conversation between a wirehouse advisor and a senior citizen who seeks trust
Aunt Bea extracts the true meaning of the word 'fiduciary'

Tuesday 7.26.11
Larry Goldbrum: (DOL's proposed rules) will have a significant chilling and negative effect on the retirement plan community.

DOL's proposal puts the screws to legacy 401(k) providers
As SPARK, SIFMA, others cry foul at yesterday's hearing, RIAs may be sitting pretty with the right fiduciary framework in place

Wednesday 3.2.11
Skip Schweiss: "I had in mind that some organization that is familiar with the fiduciary standard practiced by RIAs would set the standards, then perhaps an organization like FINRA could lend its examination expertise/process/infrastructure."

Advisory factions steel for end game as SEC's verdict on FINRA SRO comes down
As action moves to Congress, a flurry of meetings and Schwab's appearance

Friday 1.14.11
Summer's last gasp: Advocates for advisors and broker-dealers were putting in long days to prepare comments on the fiduciary standard to send to the SEC's Mary Schapiro and the other commissioners.

Old foes in the fiduciary debate join new battle to sway SEC's six-month study
Advocates were working down to the wire to submit comments by the end of yesterday

Tuesday 8.31.10
Broker Protocol: Any firm can join the protocol by contacting SIFMA.

Leerink Swann, Multi-Financial Securities Corp. and Maine Asset Management all join the Protocol for Broker Recruiting
The joining rate held steady as 29 more companies jumped on board

Friday 7.2.10
FINRA, SEC and NASSA offer guidance on the suitability standard

The suitability standard, defined
If you've wondered, as we have, exactly what it says, wonder no more

Wednesday 5.5.10
Ron Rhoades: When will Congress stand up to Wall Street?

One-Man Think Tank: When Wall Street has investors' 'best interests' at heart, watch out
As Senate is poised to take up reform, Ron Rhoades contends the movement to create a "new" fiduciary standard is a campaign of disinformation

Tuesday 4.27.10
Ed Ferrigno: It’s still extremely muddled.

Why the DOL's proposed 401(k) rules could ding brokers and leave the spoils to RIAs
SIFMA cries foul on the basis that such regulations would reduce people's access to retirement plans

Wednesday 3.3.10
Mary Schapiro: When investors receive similar services from similar financial service providers, they should be subject to the same standard of conduct

'Unthinkable' progress was made on creating a new regulatory world for advisors in 2009
Change is in the air but upcoming Senate elections complicate prospects for 2010

Thursday 12.17.09
Obama's quest for harmony may create dissonance for RIAs

Eight things necessary to keep RIAs from answering to SIFMA
Multiple strategies needed to counter deficit in numbers

Thursday 10.15.09
Bruce W. Maisel: Embraced the fiduciary standard on behalf of the American Council of Life Iinsurers

SIFMA's Taft makes anti-suitability comments but the fee crowd is wary
Mercer Bullard says that tiger is showing its stripes

Tuesday 10.6.09
David Tittsworth goes to bat for RIAs today [Tuesday]

Showdown set over whether RIAs stay under regulatory authority of the SEC [Updated!]
SIFMA and FINRA may play for regulatory control

Tuesday 10.6.09

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