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Articles on Wealth Management Topics

Brokers Come Under Fire as the Fight Over Fiduciary Financial Advice Heats Up Again

The seemingly endless debate about the standards of care with which various types of financial advisors are legally required to treat their clients received some much-needed attention in Congress recently. Given that the SEC and DOL are both working on new rules governing the relationship between advisors and clients, it's critical for current and prospective consumers of financial advisory services to understand the regulatory environment and to be aware of recent developments.

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Financial Advisory Standards of Care and Rollovers to IRA's

The decision as to whether or not to rollover a retirement plan account to an IRA should be based on more factors than just the associated mutual fund management expenses. On its website, the Dept. of Labor provides guidance to retirement plan participants, i.e. employees, on how to evaluate the fees and expenses associated with their plan: "... don’t consider fees in a vacuum. They are only one part of the bigger picture including investment risks and returns and the extent and quality of services provided. Keep in mind the importance of diversifying your investments."

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Fee-Only vs. Fee-based Investment Advice

In other Articles on Wealth Management Topics, we've discussed the confusion that many consumers of financial services have regarding terminology such as "fiduciary". Another misconception that many people (including related professionals) struggle with is the difference between Fee-Only and fee-based financial advice.

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