Newswire

Debate continues around the fiduciary standard, but independent advisors have already won, @HDelux explains to @newsfromIN at #T32017

February 23rd, 2017

Watch here.

SEC Publishes Custody Guidance on Letters of Authorization and Transfers Between Client’s Accounts

February 22nd, 2017

Custody is an important part of an investment adviser’s compliance program.  Over the years, the SEC has revised its custody rule and provided guidance through interpretive releases, deficiency letters and frequently asked questions.  Two areas, in particular, have been unclear over the years.  First, whether an adviser has custody if a client gives it authority to […]

We’re growing our client engagement team. Know a great candidate in the greater NYC Area? #jobs

February 15th, 2017

Details at https://cnsl.me/engmtmgr

A Cautionary Tale for Indie Brokers? @HDelux @Diana_Britton @wealth_mgmt

February 14th, 2017

“I’ve seen for far too long—b/d’s and insurance companies urging people to set up an S corp or a limited liability company,” Hamburger said.  “There’s nothing inherently bad about having the S corp or having the LLC,” Hamburger said. “What becomes a problem is when they try to use these entities as a way to […]

SEC Risk Alert: Five Most Frequent Deficiencies in Adviser Exams

February 10th, 2017

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) published a risk alert with a list of the five compliance topics most frequently identified in adviser deficiency letters. The alert included examples of each of the typical deficiencies. Members of the Compliance Management program can find more information on RIAglass. Compliance Rule: Compliance manuals are […]

New York Cybersecurity Rule

February 10th, 2017

The New York Department of Financial Services has proposed a cybersecurity rule. Under the proposed rule, certain “Covered Entities” must develop and implement a broad cybersecurity program.  This program requires the development and ongoing testing of a cybersecurity policy and the designation a chief information security officer.  The proposed rule is scheduled to go into […]

Fiduciary Rule ‘Under Review’, Delay Expected

February 10th, 2017

On February 3, 2018, President Trump was expected to sign a draft of an executive order that was to delay implementation of the U.S. Department of Labor’s (the “DOL’s”) conflict of interest rule (the “Rule”) for 180 days.  MarketCounsel published a statement that day.  There was, however, no mention of the 180 day delay in […]

Statement on Today’s Delay of the DOL Fiduciary Rule

February 3rd, 2017

Brian Hamburger (@HDelux) called the DOL Rule “DOA” on the morning following the presidential election.  Even before then, he published an CNBC column in February 2015 and was quoted at a conference speech as early as June 2015, advocating for a more common sense approach to expanding the fiduciary duty than the DOL Rule which further confuses […]

In Closing @SanctuaryWealth, Jeff Spears Leaves Gifts.

January 30th, 2017

The firm’s founder and CEO leaves us with the gift of hindsight and an unexpected mention. Read it here.

The MSUM16 Event App has Been Released

November 28th, 2016

The app is available on both the Apple AppStore and Google Play Store.  Go to http://cnsl.me/MSUM16app and access with your attendee confirmation email. #MSUM16