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Post-election speculation on the big changes coming to Washington has turned quickly to the Department of Labor’s (DOL) conflict of interest rule and whether the Trump administration would attempt to derail it.The bulk of this controversial regulation, which expands the definition of fiduciary investment advice under the Employee Retirement Income Security Act of 1974 (ERISA) to thousands of brokers and insurance producers, goes into effect on April 10, 2017.

Although there are differences of opinion on what will happen, in my view it will be tough to overturn a rule that technically went into effect June 7, 2016 (the compliance, or dates are April 10, 2017, for the definition and some exemptions, and January 1, 2018, for the remainder). Because the compliance deadlines go into effect next year, some are wondering whether the incoming Trump administration will attempt to change the rule, overturn it, or do nothing at all.

The odds are that vigorous efforts will be made...

As investors know all too well, the markets can be a daunting and tumultuous landscape. Explaining this to clients, especially in the midst of a volatile phase, can prove difficult even for the most experienced advisor. In his videos, “How to Have the Scary Markets Conversation,” behavioral finance guru Carl Richards walks us through how advisors can better communicate those “scary market” conversations with clients. Check out these top three takeaways from Carl Richards’ videos and click...

More than 150 investment advisors and wealth managers converged on the nation’s capital on July 18, 2016, for IMCA’s second annual Focus on Fiduciary program. The sold-out event delivered timely updates directly from the Department of Labor (DOL) and Securities and Exchange Commission (SEC), along with two panel presentations: one comprised of financial advisors discussing the rule’s impact on their businesses, and the other of asset management industry researchers and executives sharing their...

Investment management is in the midst of major secular change. Demographic trends and generational differences are redefining the financial services industry and how we deliver services. Did you know that the average age of a financial advisor today is 50 and increasing? Indeed, fewer than 25 percent of today’s advisors are younger than age 40 and 36 percent of advisors plan to retire within the next 14 years.¹ So just as retiring baby boomers are driving up the demand for additional advisors,...

Less than a month after its release, the Department of Labor’s (DOL) conflict of interest rule continues to be a lightning rod for opponents who weren’t happy with changes to the safe harbor for commission-based advice.

In addition to recent efforts to thwart the rulemaking in Congress, 10 industry groups filed lawsuits in two federal district courts on June 1 and 2, 2016, to postpone the April 10, 2017, compliance date, at a minimum, and ultimately to overturn the rule.

was filed June 1 in...

This issue of Investments & Wealth Monitor focuses on mature clients. We haven’t tried to define the mature client, but a Google search suggests that those older than 50 qualify. Indeed I was surprised to learn that the median age of first-time grandmothers is 50 and grandfathers is 54, that today’s grandparents want to create legacies for grandchildren by providing experiences now, and that 70 percent of grandparents live within 50 miles of their grandchildren. This information leads me to...