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Cambridge Investment Research Associates To Pay $15M In SEC Revenue-Sharing Conflicts Case

Wealth Management

The SEC accused Cambridge Investment Research's RIA business of breaching its fiduciary duty in recommending certain mutual funds and money market sweep funds.

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Weekend Reading For Financial Planners (May 27-28)

Nerd's Eye View

Also in industry news this week: How consumer concerns about the stability of the banking industry could present independent advisors with an opportunity to add value by managing client cash Why an advisor’s fiduciary duty can sometimes come into conflict with the best insurance options for their clients From there, we have several articles on (..)

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Personal finance links: the burden of social debt

Abnormal Returns

Our lives, the economy, and the markets are constantly in flux." blas.com) Personal finance Eight things to look for in a financial advisor including 'a fiduciary duty.' (ritholtz.com) Three things the 1% do with their money including 'not going into excessive debt.' thisisthetop.substack.com) Aging How older people get scammed.

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Weekend Reading For Financial Planners (January 20-21)

Nerd's Eye View

Also in industry news this week: While the total number of RIA M&A deals in 2023 fell short of a record-setting 2022 amidst an elevated interest rate environment, continued interest from private equity firms and creative deal structures could boost deal flow in 2024 While the SEC authorized 11 "Spot" Bitcoin ETFs last week, comments from chair (..)

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Weekend Reading For Financial Planners (Feb 18-19)

Nerd's Eye View

Also in industry news this week: A court ruling this week vacated Department of Labor guidance that a one-time rollover recommendation from a company plan to an IRA would trigger fiduciary duty requirements under ERISA Vanguard’s CEO this week indicated the firm plans to invest heavily in direct indexing amid the growing use cases for the strategy (..)

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Weekend Reading For Financial Planners (September 28–September 29)

Nerd's Eye View

Also in industry news this week: As brokerage firms have faced a wave of lawsuits regarding the low interest rates paid on cash sweep accounts, some legal experts believe that RIAs could also be targeted for legal action if they allow clients' uninvested cash to sit in a cash sweep account rather than investing it or moving it to a higher-yielding (..)

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How to Find a Fiduciary Financial Advisor

Darrow Wealth Management

Consider this: you walk into a Bank of America branch and ask for the best type of savings account on the market. Only registered investment advisors have a full-time fiduciary duty to their clients. In 2019, the CFP board announced CFP® professionals must adhere to a fiduciary duty when providing investment advice.