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Articles tagged "Ron Rhoades"

Harold Evensky: They want to be in a position to raise money from industry sources and that's something we didn't want to do.

Fiduciary leaders splinter into two advocacy groups over divergent views
Knut Rostad takes six people with him to start the Institute for the Fiduciary Standard

Thursday 8.25.11
Dave Loeper: If advisors are using our process, they need to make sure they have the appropriate rights to it.

David Loeper is taking on UBS but his patent lawsuit is raising alarms in the RIA business
A pitched battle over the uniqueness of a financial planning process could result in thousands of advisors paying royalties

Thursday 8.11.11
Ron Rhoades: Public policy concerns may well influence the outcome of the Wealthcare vs. UBS litigation.

Legal analysis: The chances that Wealthcare beats UBS or upends the financial planning community
The patent lawsuit could have real consequences for financial advisors

Thursday 8.11.11
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
Stacey Lau Welsh gave up her investment banking career to manage wealth. 'I can work hard and sleep in my own bed.'

Three happenings in the RIA world right now
The Innovative Alternative Strategies conference kicks off; United Capital brings aboard two high-level women advisors; and Ron Rhoades finally gets recognized for his efforts

Wednesday 6.22.11
Ron Rhoades: We need to foster a next generation of leaders, armed with a greater knowledge.

Ron Rhoades is a lawyer and RIA with no back-down; the VA industry is finding that out in a hurry
The relationship began with a comment about the ineffectiveness of cosmetics on pigs

Friday 4.8.11
Ron Rhoades: In essence, the “theory” of FIAs often fails in its execution, due to poor product design and abusive sales practices.

The ABCs of doing due diligence on fixed income annuities
State regulators are stepping up as the SEC, reigned in by Dodd Frank, retreats on regulation of fixed income annuities

Friday 3.18.11
Mercer Bullard: "If the CFP Board, the Financial Planning Association or the Investment Adviser Association finally get their act together, they might want to get involved."

Mississippi lawyer Mercer Bullard volunteers to form an RIA SRO and nobody's laughing it off
IAA won't join forces; annual cost to run an SRO could top $150 million

Thursday 3.10.11
Ron Rhoades: “Sh***y products” – such as the many poor asset-backed securities manufactured in the 2002 to 2008 time frame – would likely not have been manufactured in such great numbers had financial intermediaries been fiduciaries.

One-Man Think Tank: Four red flags in the SEC's fiduciary report
The standard may help right an economy overweighted by finance, but there's a strong chance Wall Street will block it

Tuesday 3.1.11
Ron Rhoades: The SEC will require the support of many professional groups and consumer groups, as well as that of the media and general public, to overcome the ferocious attacks which are certain to follow.

One-Man Think Tank: SEC courage likely to be tested in coming months
Study on fiduciary standard may be the most significant advance for investor protection in a half-century, but real progress will be made rule by rule

Monday 1.24.11
Chuck Moran, of the CFB Board of Standards board of directors: “We were looking for a more definitive recognition of financial planning."

GAO study puts insurance agents up for scrutiny as it rejects idea of sweeping RIAs, b-ds, planners into one regulatory pool
A disappointment to those advocating for a financial planning profession, the study details the hodgepodge of regulation without recommending major changes

Wednesday 1.19.11
Elizabeth MacBride: Sometimes, we even get to hear the end of the story: an idea that has leaped from the online world to spur action.

Ideas born in the advisory world that flew far in 2010
How one conversation influenced NYC economic policy

Thursday 12.30.10
Ron Rhoades' crystal ball extends to 2025 when Americans finally say 'uncle' to another 15 years of having brokers' interests go first.

Why a swing-and-miss on fiduciary standards will haunt us for decades
An ounce of good sense now could save the U.S. economy a pound of unnecessary pain downstream

Thursday 12.23.10
Ron Rhoades crafted this response to two advisors' question about turning RIA

One-Man Think Tank: Yes, advisors, there is a way to cope with fiduciary liability
Ron Rhoades recipe includes one surprising ingredient

Tuesday 12.21.10
Ron Rhoades: I have personally observed dozens of my clients, throughout my 25-year legal and then investment advisory career, inform me that their “financial advisor” took them on “for free” and “has never been paid a dime.”

One-Man Think Tank: The fiduciary standard may sink Wall Street's advisors-on-yachts. Should we care?
How much should a professional investment advisor make?

Tuesday 12.7.10
Ron Rhoades: From a review of the academic literature, it appears that relatively few investment strategies, as to the design of portfolios for individual clients, withstand academic scrutiny.

One-Man Think Tank: With even governments abandoning pension plans, investors are being tossed to the fee-hungry wolves
Disclosures don't deal with the psychological issues of risk aversion, overconfidence, and cognitive dissonance.

Thursday 12.2.10
Ron Rhoades: I have seen in my 25 years of practice ... a large number of individual Americans withdraw from the stock and bond markets after discovering the inadequacy of the conflict-ridden investment advice they received.

One-Man Think Tank: What would Adam Smith say about the fiduciary standard?
As the SEC ruminates, the invisible hand lurks and Rhoades finds support for a strong standard in unlikely places

Monday 11.22.10
Ron Rhoades: It appears that relatively few investment strategies, as to the design of portfolios for individual clients, withstand academic scrutiny.

One-Man Think Tank: Would your investment strategy stand up in court?
Advisors should apply due diligence not only to products and suitability, but to their overall approach, says the new ADV form.

Wednesday 11.3.10
Ron Rhoades: If you read to the end of this column, you may conclude that due diligence is not easy. But whoever said being an RIA should be?

One-Man Think Tank: Inside the due diligence that uncovered serious questions about a REIT
Ron's firm convinced an investor to sell his shares after an analysis that looked at the share redemption program

Monday 8.9.10
Ron Rhoades: Many RIAs rightly question the utility of limited inspections by regulators.

One-Man Think Tank: The SEC's custody examinations leave gaps big enough for Madoff to drive a bus through
How to reassure clients who are seeing Ponzi after Ponzi unveiled

Tuesday 7.27.10
Jim Sotell: Fees that were hidden are coming to the surface. That will put RIAs on a more level playing field with brokers in the retirement plan business.

How the new 12b(1) fee restrictions could transform the financial advisory industry
Brokers selling 401(k) plans may have another nail driven into their coffin

Thursday 7.22.10
Eugene Steuerle explains why it's often better to spend your 401(k) for a year or two before delving into Social Security

RIABiz Conversations: Eugene Steuerle answers RIAs' technical questions about how to use Social Security as an annuity
Plus, a debate you may have missed on Harold Evensky's FINRA comments

Tuesday 7.20.10
Ron Rhoades: Potential clients rightfully adhere to the old adage, "Where there's smoke, there's fire."

One-Man Think Tank: Six steps to avoid getting sued and having your reputation destroyed in the bargain
Beware prospects who bad-mouth their old advisor; fire clients who don't stick to the strategy

Monday 7.19.10
Ron Rhoades: It is time for FINRA to be dismantled.

One-Man Think Tank: Six reasons that FINRA should be dismantled
Insuperable issue: Each FINRA firm has an equity interest in FINRA - and would be entitled to a slice of its billion-dollar war chest

Wednesday 7.14.10
RIAs continue to rise above the landscape and capture notice from across constituencies

What happened in June shows that RIA fortunes stayed on the rise
The giant legislative victory was a landmark for RIAs but much more happened as Spring turned to Summer

Friday 7.2.10
Ron Rhoades: Fiduciary organizations benefit from the media's growing attention to the fiduciary issue.

One-Man Think Tank: Being a fiduciary is suddenly in style, even as lawmakers dance around the issue
The conference committee puts off action for another day, but Ron Rhoades points out that the private sector is finding its own solutions

Thursday 6.24.10
David Bellaire: Improving regulatory examination and enforcement for investment advisers and broker-dealers is more complicated than changing the responsible regulator or throwing money at the problem.

Debate continues: Fiduciary standard no panacea
Financial Services Institute advocates for study, deliberate look at investor protection

Thursday 5.6.10
Ron Rhoades: Settlement of the case between Goldman Sachs and the SEC is highly likely within the next several months.

One-Man Think Tank: Inside the legal issues of the Goldman Sachs hearings
Sorting out the culpability of the Wall Street powerhouse requires a close look at the suitability standard

Wednesday 5.5.10
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
Ron Rhoades: The more you make brokers and advisers look the same, the more likely it is that FINRA will end up regulating them all.

What financial advisors can expect from Washington this spring: 8 predictions
Financial reform will move forward, but regulation will move backward

Monday 4.5.10
Ron Rhoades: The large broker-dealer firms should be partying tonight

FINRA and SIFMA win big for Wall Street with release of Senator Dodd's bill yesterday
The proposal is a 'devastating grant of authority to the SEC to write the rules'

Tuesday 3.16.10
Ron Rhoades: Arguably, language in the Johnson Amendment provides the SEC with the authority to craft whatever rules it wants to.

Why the New York Times fiduciary article won't deter the special interests
Consumer-protection regulations rarely get stiffer in the legislative process

Friday 3.5.10
Ron Rhoades: If investment advice becomes a profession, demand will soar.

Part One: Investment Advisers: Is our path toward, or away, from a true profession?
An argument for taking the high road

Monday 2.15.10
Washington's attention to financial advice is a major step in its evolution

Part Two: The last advice model standing
Five links on the evolutionary chain toward a profession

Monday 2.15.10
Ron Rhoades: Increasing attention is now being given to FINRA’s failures as a regulator

7 reasons why wirehouses shouldn't milk the old business model
Once the chief protector, FINRA and its lapses may contribute to brokers' darkening picture

Thursday 1.28.10
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
SEC Commissioner Luis A. Aguilar: These rules are a "Madoff fix."

SEC details new "Madoff fix" custody rules
Advisor groups relieved: no surprise audits for RIAs with third-party custodians

Wednesday 12.16.09
Paula Monopoli: Money equals power within a relationship and power asymmetry yields inequality.

Should men control retirement accounts? ERISA rules say yes
Professor says 401(k) system is biased against women

Tuesday 12.15.09
Ron Rhoades: Congress should replace the current mismash of IRAs, SEP IRAs, SIMPLE IRAs, 401(k), 403(b), 457, etc. with four types of accounts

Experts open playbook on retirement plan reform
What's in the mix: eliminating loans from retirement funds, annual rollovers, self-directed Roth IRA

Tuesday 12.15.09
Kristina Fausti is watching for whether fiduciary standard will apply only to personalized investment advice provided to retail investors

SEC one step closer to losing oversight of most RIAs
But will budget-crunched states do a better job?

Wednesday 10.28.09
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