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Cerulli: 23% of Affluent Investors Still Open to Commission-Based Fees

Wealth Management

Even as the advisor industry has embraced fee-based compensation models, nearly one-quarter of affluent investors still prefer a one-off, commission-based structure.

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NAPFA Updates Membership Standards to Allow for Some Commissions

Wealth Management

The membership organization for fee-only advisors will now allow for a de minimis amount of commission business, as long as it's relinquished.

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Raymond James to Pay $12.5M for 'Unreasonable' Commission Charges

Wealth Management

Raymond James will pay more than $12 million to settle charges of 'unreasonable commissions' on transactions, according to state regulators.

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SEC, FINRA Rescind Statement on Broker/Dealer Crypto Custody

Wealth Management

The move was accompanied by a set of FAQs on how to custody digital assets, and marked the latest step in the commissions effort to significantly reform its previous approach to cryptocurrencies.

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Why Advertising “Conflict-Free” Advice Could Violate The SEC’s Marketing Rule

Nerd's Eye View

However, despite the large number of potential conflicts that exist for advisory firms, much of the financial media and the general public tend to focus specifically on the conflicts caused by commission-based fee models.

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Back to the Future: RPA Commissions Are Back

Wealth Management

Fiduciary RPAs paid additional fees from manufacturers or through proprietary products have no place in today’s transparent fiduciary world.

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SEC Accuses Advisor of $17M Scheme Targeting Venezuelan Nationals, Clergy

Wealth Management

According to the commission, Andrew Jacobus allegedly raised nearly $40 million from clients, falsely claiming he would invest their securities via accounts at U.S.-based based brokerage firms.