SEC, DOL Enforcement Roundup: CDO Woes, Short-Selling Brothers, Amish Fund
By Marlene Y. SatterRecent actions by the SEC and DOL included fines of $127.5 million for a securities firm over false CDO credit ratings and $14.5 million for two short-selling brothers, along with deferred prosecution for an Amish fund.
July 17, 2012
New Clients Drove Record Revenues in 2011: Schwab RIA Benchmark StudyProfits grew 14% at the median firm in 2011, mostly driven by revenue growth, while principal income was also up 5% at $341,000, according to the Charles Schwab 2012 RIA study.
July 17, 2012
Social Media Is Hottest Compliance Topic for RIAs: SurveySocial media use among RIAs has shot up over the past year, with 80% of RIAs stating they have adopted formal written policies on social networking, according to the Investment Management Compliance Testing Survey.
July 17, 2012
TD Ameritrade Q3 Earnings Fall, but Net New Client Assets Up 23%Pete Dorsey, managing director of TDAI, says the unit is on track to add a record number of breakaway brokers, with 324 added in the fiscal year to date.
July 11, 2012
Hourly Advice Sounds Good, but for Most Advisors, It Just Doesn’t PencilSo you want to smooth out revenues, advisor, and think hourly fees are the answer? There are some problems with that scenario
July 10, 2012
Change Is Coming, RIAs. Don’t Get Caught in the MiddleThe RIA community will separate in the near future into high-end family advisor models and lower-end, cheaper, technology-driven models. Will you survive?
July 06, 2012
It’s Not Too Late to Make Your Voice Heard on SRO BillIf youre not in favor of having FINRA become the SRO for RIAs, join the advisor grass-roots effort to advocate with Congress against Bachus bill.
July 02, 2012
Women Are an Opportunity, Not a Niche: Schwab’s ClarkAmong the lessons from Schwabs Women and Financial Independence Study, according to Bernie Clark: Dont treat us differently, but do get to know us and our goals.