CHICAGO (Reuters) – Do you live in a fiduciary state? The question could become important if the financial services industry wins its high-stakes legal and political battles to dismantle the federal fiduciary rule governing advice to retirement investors. The ... More »
The U.S. Department of Labor will give wealth management companies more time to get in line with the new "fiduciary rule," a regulation that requires financial advisers to put retirees' interests ahead of their own, the regulator said on Wednesday. More »
Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. REUTERS/Lucy Nicholson Leaving your job soon and rolling over a 401(k) into an IRA? Thinking about buying an annuity? About to call your money manager and allocate this year’s Roth co... More »
The U.S. Labor Department will implement its fiduciary rule on June 9 with no further delays, U.S. Labor Secretary Alexander Acosta said on Tuesday. More »
Bank of America Corp’s brokerage, Merrill Lynch, said on Thursday it will roll out a commissions-paying retirement account compatible with a new U.S. Labor Department regulation that raises the standards for client care. More »
FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo JPMorgan Chase & Co has sent some wealth management customers letters this month notifying them that they could be moved to the firm’s self-direc... More »
A worker washes windows high atop the Merrill Lynch building in downtown San Diego, California September 1, 2015. REUTERS/Mike Blake Merrill Lynch, a unit of Bank of America Corp, may not entirely do away with its commission-based retirement accounts, after Tr... More »
Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. REUTERS/Lucy Nicholson Getting financial advice on complicated insurance products is, well, complicated. More »
As century-old Wall Street brokerages have agonized over the fate of a major U.S. regulation on retirement advice, younger Silicon Valley counterparts have coolly shrugged their shoulders. More »
A U.S. federal judge on Wednesday upheld an Obama-era rule designed to avoid conflicts of interests when brokers give retirement advice, in a possible setback for President Donald Trump’s efforts to scale back government regulation. More »
A mortgage specialist speaks with a client at a JPMorgan Chase foreclosure consultation event in New York, in this March 31, 2011 file photo. REUTERS/Shannon Stapleton/Files Tired of the on-again-off-again tease of a government rule that would make financial a... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 23, 2017. REUTERS/Brendan McDermid Conflicting signs from the White House have left brokerage firms and lobbyists unsure whether a controversial rule governing reti... More »
After signing, U.S. President Donald Trump holds up an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington February 3, 2017. REUTERS/Kevin Lamarque U.S. President Donald Trump on Friday o... More »
U.S. President Donald Trump signs an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington February 3, 2017. REUTERS/Kevin Lamarque With a swipe of his pen, U.S. President Donald Trump on F... More »
President Donald Trump on Friday will call on the U.S. Labor Department to delay for 180 days the implementation of its fiduciary duty rule requiring brokers offering retirement investment advice to put their clients’ interest first, according to a draft memo ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Wells Fargo & Co (WFC.N) said it will continue to offer individual retirement accounts that pay brokers commissions and will adjus... More »
Morning commuters pass by the New York Stock Exchange (NYSE) on a rainy morning in New York City, U.S., October 21, 2016. REUTERS/Brendan McDermid counsel, not lead plaintiff’s attorney) More »
NEW YORK Wealth managers in the United States are cutting fees, relying more on technology to give advice and reducing the minimum amounts clients can hold in their brokerage accounts, all in preparation a new rule governing how they advise retirement savers. ... More »
CHICAGO The U.S. stock market may give us a rocky ride in 2016, but the year is shaping up to be a good one for retirement savers. At long last, investment advisers may be required to put your best interests ahead of their own. The U.S. Department of Labor is ... More »
