Newswire

RIAs Face New Custody Risks and Reporting, so @danbernstein talks with @dvjamieson @FAmagazine.

October 19th, 2017

Beginning this month, advisory firms preparing their annual ADV updates will have to calculate and report assets held in accounts that have a standing letter of authorization to move money or pay bills to third parties. Dan Bernstein, chief regulatory counsel at MarketCounsel, thinks the biggest change for advisors will be the reporting requirement.  “Advisors do […]

MarketCounsel: ‘Humbled to Receive its Second WealthManagement.com Industry Award for Its RIA Incubator™’

October 18th, 2017

Read the press release here.

“Whatever you do, don’t call them brokers.” @Think_MelanieW @ThinkAdvisor highlights @HDelux

October 3rd, 2017

As Brian Hamburger, CEO of regulatory consulting firm MarketCounsel, noted on the recent webcast, in 1999 — under what is commonly referred to as the broker-dealer exemption — the SEC said that brokers’ fee-based advice “did not have to include a fiduciary responsibility as long as the broker wasn’t making the final investment decision,” sparking […]

#MSUM17 Themes Announced: identity, purpose and protection of independent wealth management firms.

September 27th, 2017

Read the press release here.  

“Technology is the catalyst,” @HDelux to @Mike_Thrasher @wealth_mgmt on what fuels the move to independence.

September 27th, 2017

Phil Shaffer, a co-founder of Graystone Consulting, Morgan Stanley’s wealth management business that caters to institutions and wealthy individuals, has left the group to start his own independent advisory firm. “We have long said that technology is the catalyst for these departures,” said Brian Hamburger, president and CEO of MarketCounsel. “It’s what’s enabling them to leave […]

SEC Statement on Cybersecurity Reveals EDGAR System Hacked

September 21st, 2017

The SEC announced that its EDGAR system for storing documents filed by publicly traded companies was hacked last year.  The SEC further admitted that the information, which included filings that had not yet been made public, may have been used to trade on inside information.  The information about the hack was buried in an eight […]

Muddy disclosures continue to attract the wrong kind of attention

September 19th, 2017

Disclosure of conflicts of interest has long been an area of enforcement emphasis by the SEC.  Last year, Julie Riewe, Co-Chief of the Asset Management Unit within the Division of Enforcement stated: In nearly every ongoing matter in the Asset Management Unit, we are examining, at least in part, whether the adviser in question has […]

Muddy disclosures continue to attract the wrong kind of attention

September 19th, 2017

Disclosure of conflicts of interest has long been an area of enforcement emphasis by the SEC.  Last year, Julie Riewe, Co-Chief of the Asset Management Unit within the Division of Enforcement stated: In nearly every ongoing matter in the Asset Management Unit, we are examining, at least in part, whether the adviser in question has […]

Muddy disclosures continue to attract the wrong kind of attention

September 19th, 2017

Disclosure of conflicts of interest has long been an area of enforcement emphasis by the SEC.  Last year, Julie Riewe, Co-Chief of the Asset Management Unit within the Division of Enforcement stated: In nearly every ongoing matter in the Asset Management Unit, we are examining, at least in part, whether the adviser in question has […]

Muddy disclosures continue to attract the wrong kind of attention

September 19th, 2017

Disclosure of conflicts of interest has long been an area of enforcement emphasis by the SEC.  Last year, Julie Riewe, Co-Chief of the Asset Management Unit within the Division of Enforcement stated: In nearly every ongoing matter in the Asset Management Unit, we are examining, at least in part, whether the adviser in question has […]