The Inconsistency of Compliance is Demonstrated by SEC ADV Part 1: Item 8G(1) Soft Dollar Benefits
with No Comments

Identical firms answer questions like these differently making the resulting data meaningless and useless. If anyone wants to use this data, the SEC will need to standardize answers first. If no one wants to use this data, we should eliminate the burden of providing it.

Our Answers to Form CRS Conversation Starter Questions
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As part of the requirements, the SEC wrote passages which must be included verbatim in each relationship summary. Some of that required text are so-called conversation starter questions.

Four Possible Consequences of Regulation Best Interest
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These are four possible consequences of Regulation Best Interest.

Six Ways Regulation Best Interest Falls Short of a Fiduciary Standard
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The SEC is allowing financial professionals to hide in a lower legal requirement, not meet a fiduciary standard, and call it “Best Interest.”

SEC Regulation Best Interest Does Not Have Your Best Interests At Heart
with No Comments

On June 5th, 2019, the Securities and Exchange Commission (SEC) released their final draft of Reg BI, or “Best Interest” as it is called.

NAPFA Challenges the Securities and Exchange Commission
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I couldn’t be prouder to be a NAPFA-Registered Financial Advisor.

New SEC Advice Rule Abandons Fiduciary Standard For Brokers
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The SEC released an embarrassingly poor 1,000 page document.

How to Comply With the SEC’s Strange New Custody Rule
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Compliance is never simple. Thousands of hours have been spent because the SEC refused to clarify what they expect.

How Does Compliance Differ Between Smaller Firms and Large Brokers?
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It is relatively easy for an adviser who has a 400 lawyer compliance department to sit through some compliance continuing education and yet never understand what attitudes and behaviors need to be changed.

Did Obama Violate an SEC Regulation?
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From the blind eye of the law, this seems like a violation of SEC regulation.

Failed Experiment at the SEC
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Those who don’t understand or experience regulatory capture wrongly believe in a team of angels at these federal agencies tirelessly working for the common good.

Five Unbelievable Financial Advisor Regulations
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To comply, most firms must archive and report massive amounts of information. Here are five of the more interesting regulations.

Importance of Accurate Compensation Disclosures For Consumers
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You deserve a fee-only fiduciary standard of care.

SEC Requires New ADV Part 2 Disclosure Form
with No Comments

Unfortunately, our society tends to pass feel-good legislation aimed at making people feel safer without actually making them safer.

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