Senate approves Trump's nominee as DOL secretary, 60-38.
Jobless claims jump to one-month high of 257,000
However long it takes to play out, panelists at InvestmentNews ' Retirement Income Summit doubted the regulation will remain in place in its current version.
Some firms that currently allow advisers to report indexed-annuity sales as outside business are considering bringing it in-house to better monitor their brokers, control risk and potentially take a cut.
Long-term flows to accounts that charge an asset under management fee were up 54% in the first quarter.
The Investment Adviser Association wants a safe harbor for sales conversations. Meanwhile, Morningstar suggests a replacement for the best-interest contract exemption.
T shares and clean shares increase transparency and reduce entrenched conflicts of interest, offering a cost benefit to investors, the fund researcher finds.
TD is dropping its fees, while Fidelity is giving is RIAs fewer options on how to pay for referrals.
Whatever the ultimate fate of the fiduciary rule, the marketplace is heading toward level fee compensation and away from variable compensation.
As DOL fiduciary rule stalls, Michael Piwowar seeks to have SEC step in.