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Articles tagged "Skip Schweiss"


Phyllis Borzi: We're troubled by this and employers are having a hard time finding the documents they're looking for.

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure, not without critics
The idea is to have a de facto big red arrow pointing to key disclosures on revenue sharing but it'll add to the verbiage surplus

Tuesday 3.11.14
Steve Anderson: None of the consultants are utilizing our business model.

Schwab fesses up to Wall Street just how hard winning plan sponsors to its 401(k) ETF platform will be
Convincing plan sponsors and pension consultants to join a ETF paradigm shift to ETFs is a big ask, its executives tell Wall Street

Tuesday 2.18.14
Lauren Schadle: We need to go back to our roots with a laser-like focus for why FPA was created in the first place -- and that is to support the CFP professional.

Lauren Schadle shows mettle as FPA stakes out turf in skirmish with CFP Board at its national conference in Orlando
Despite a no-show Phyllis Borzi, the FPA Experience was a substance-filled event in which the organization sought to redefine and reclaim its soul

Tuesday 10.22.13
Fred Reish: It doesn't look good.

How the future of the 401(k) industry may hinge on the outcome of a lawsuit brought by Fidelity employees against their own company
The legal case is built on a Fidelity-only funds menu but the Boston 401(k) king intends to show these participating employees got a sweet, fair deal that went beyond DOL mandates

Thursday 10.17.13
Chip Roame: The problem is, the people with the debt aren't the same people who have the assets, so per capita we're very overleveraged.

Chip takes a 90-minute rip at wealth management at the Tiburon CEO Summit
The event's name oozes self-importance until Roame takes the stage and blasts everybody, himself included

Wednesday 10.9.13
Ron Rhoades: Shouldn't the phrase: 'member, FINRA' be viewed like the warnings on cigarette packages -- i.e., as a consumer warning sign?

FINRA's scandalous litany of failures and its efforts to redefine the true fiduciary standard out of existence
Our one-man think tank continues his scathing indictment of the SRO's disingenuous and downright fraudulent practices

Wednesday 7.17.13
Scott MacKillop, Frank Trotter and Alex Potts on the high-risk, 18-hour rim-to-river-to-rim hike

RIA leaders venture to Grand Canyon to get beneath Earth's surface -- and their own
Business bound these execs and advisors on a self-inflicted adventure, but their bonds were tested on a deeper level

Wednesday 7.3.13
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
Tom Nally and Fred  Tomczyk put their heads together before the opening session.

TD Ameritrade Institutional Elite Summit boasts big firms, big ideas and a defiance of the weather
A combined $133 billion AUM of advisors -- made up of 133 advisors -- made for rareified, if highly humid air in Palm Beach

Friday 6.14.13
Barney Frank (r.) with TD's Skip Schweiss: We can’t confuse people who are already confused.

Barney Frank puzzles crowd on his fiduciary stance at TD summit -- as questions from Skip Schweiss and advisors expose his haziness on the RIA structure and soul
The namesake of the Dodd-Frank bill seems to buy into a suitability approach as a gold standard for financial advice

Thursday 6.13.13
Skip Schweiss: This bill is the best path we've seen thus far.

An advisor fee bill hits Congress again, this time gaining qualified support from RIA groups
Rep. Maxine Waters' bill, which would require fees from advisors for the SEC, is unlikely to pass, but groups say it will push off FINRA efforts for now

Monday 4.22.13
Skip Schweiss: Why one exam every five months? I'd still like that question answered.

RIA loyalists slam the SEC for playing into FINRA's darkest characterizations of haplessness
Is the Securities and Exchange Commission asking for more cash to examine RIAs, getting it, then spending it on other priorities?

Friday 3.1.13
Elisse Walter wants a "harmonized" fiduciary standard and is set to serve as the agency's leader until late in 2013

Obama makes 'really unfortunate' appointment of Elisse Walter as new SEC chairman
The former FINRA, CFTC and SEC exec will replace Mary Schapiro next month as RIA leaders brace for a new round of regulatory battles

Monday 11.26.12
Jim Dario developed respect for TD Ameritrade over the years as a competitor.

What's up with Jim Dario making the leap from Pershing to TD Ameritrade
The former Fidelity star -- and an almost star in 'Jaws' -- made an intra-Jersey City move but actually never left Boston

Wednesday 9.5.12
Skip Schweiss: I feel like democracy worked the way it is supposed to work and that should be encouraging to all advisors.

How RIA forces squashed the Bachus bill by calling the implicit FINRA bluff
Faced with the threat of more SEC exams and higher fees to pay for them, RIA leaders said in effect: Bring it on

Thursday 8.2.12
Phil Chiricotti: The DOL went off the reservation...They backed off and damaged their credibility.

What to make of DOL's backtrack after John Kerry, Fidelity Investments and the rest of the riled 401(k) industry cried foul
The policy reversal on on self-directed accounts is a win for white-collar workers but the agency's mandating-by-bulletin was equally troubling to some observers

Wednesday 8.1.12
Eric Clarke and Chip Roame atop Mount Whitney

How RIA industry execs took on the ultimate teamwork challenge: Conquering the highest summit in the lower 48
Training regimens for the group -- including a Green Beret and a Gulf War veteran -- ranged from crossing the Brooklyn Bridge to Google searches for portable bottles of oxygen

Thursday 7.12.12
 Phil Chiricotti: It's a needless requirement that just can't be met.

New DOL rule effectively kills off open-architecture option favored by some big plan participants -- and sets off the 401(k) industry
The wrinkle aimed at self-directed accounts is seen as an unnecessary eleventh hour blindsiding by Fidelity, TD and the CFDD among a broad constituency

Wednesday 6.20.12
James Carville lent his big presence and Louisiana accent to a small event with large ambitions.

TD Ameritrade's 2012 Elite Advisor Summit gathers $89 billion of RIA assets under one Laguna Beach umbrella
Fresh off a week of D.C. intensity, the annual event crackled with strong opinions and offensive strategies

Friday 6.15.12
Ken Robinson: It's a thinly veiled hostile takeover of independent fiduciary advisors by those who fear them the most.

RIAs flood Capitol Hill with protests against a SRO-FINRA future on the day of the Bachus Bill hearing
Schwab's Clark and TD's Schweiss lead the charge, arriving in D.C. with impassioned advisor missives predicting an 'avalanche of costly regulation'

Wednesday 6.6.12
Bernie Clark: I'll personally deliver your message to the representatives with whom I'll be meeting.

Bernie Clark and Skip Schweiss head to Washington next week to fight on behalf of RIAs in Bachus bill showdown
With FINRA threat looking real, the Schwab and TD Ameritrade executives are urging letters and Tweets

Friday 6.1.12
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
Skip Schweiss: RIAs are at full throttle, increasing spending on staffing, professional development and technology enhancements.

The RIA consensus heading into 2011: hire more and invest in more infrastructure
TD Ameritrade survey shows advisors have big concerns over regulatory changes

Tuesday 12.21.10
Melanie Senter Lubin: Advisors should get their ADV form ready to filed by March 31 and also make sure they know which states they’re going to need to file with.

Wondering whether to register with the states or the SEC? It's a moving target.
New York advisors still left to wonder who has power over them

Monday 12.20.10
Nick Georgis:  We do not support a SRO for the RIA industry. Schwab has had conversations with SEC staff to share this point of view.

Custodians defend their records in having RIA backs in battles for the fiduciary standard and against FINRA takeover
TD Ameritrade has publicly made some regulatory efforts for advisors and other say they mostly do it behind the scenes

Tuesday 11.23.10
Skip Schweiss: We think it’s time to ramp it up.

TD Ameritrade and Pershing are making moves to win RIA 401(k) assets
Little-known Matrix is strong with 401(k) business for advisors and Fidelity's new 401(k) RIA solution is well-received

Wednesday 11.3.10
Susan Collins put Goldman Sachs execs through tough questioning, then introduced an amendment on the fiduciary standard.

Hopes dashed: Collins amendment extends fiduciary standard to BDs, but excludes variable annuity sellers
Amendment under fire from state securities regulators, Consumer Federation

Friday 5.14.10
Brian Stimpfl: It was the hardest decision of my career.

[Updated] Why Brian Stimpfl left TD Ameritrade and where he is headed
A right-hand man to Tom Bradley takes a mid-career leap

Monday 4.12.10

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