Sentences with phrase «fiduciary standard into»
While the SEC considers whether to extend a fiduciary duty to all advice givers, and the Department of Labor forges ahead on its revised definition of fiduciary, HighTower has moved ahead on its own, wrapping a strict fiduciary standard into a business model that meets client needs while giving top Wall Street brokers an innovative home from which to serve those clients and grow their individual businesses.
https://www.thinkadvisor.com/ Not exact matches
By requiring retirement advisers to either meet a «fiduciary» standard or put other safeguards into place, the rule holds financial advisers to the same benchmark already required of doctors and lawyers — that they act in their clients» best interests.
Second, DOL «then offers an exemption from this far - reaching prohibition — known as the best interest contract exemption (or «BIC» exemption)-- but conditions it on financial services firms and insurance institutions agreeing to subject themselves to fiduciary standards of conduct in contracts that they must enter into with their customers, as well as a range of other restrictions and requirements.»
Those standards require annuity sellers into retirement accounts to act as a fiduciary, make no misleading statements and accept only «reasonable» compensation.
She predicts more advisers will be lumped into the fiduciary relationship in 2016 and beyond, suggesting the Department of Labor (DOL), through its updated fiduciary rule, «will extend the fiduciary standard embedded in ERISA to advisers who handle any kind of retirement account, including individual retirement accounts (IRAs).»
Regardless of the DOL fiduciary rule going into effect, clients now expect their advisors to provide them with advice that is compliant with the fiduciary standard.
Critics will say that the nation had recurring booms and busts while on the classical gold standard, but they may be confusing the chaos of fractional reserve banking (being able to pyramid loans on top of deposits with fiduciary media) with the classical gold standard (the citizenry is able to convert currency into a fixed amount of gold).