| A weekly digest of news and industry updates for the financial planning community |  |
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| Policy Watch | | |
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- No SEC action scheduled on single fiduciary standard
Wall Street and consumer advocates have found common ground on the need to implement a uniform fiduciary standard for brokers and investment advisers. However, the measure appears to be stalled at the Securities and Exchange Commission. Bloomberg
(9/10)     
- Republican members of SEC seek ideas for money market reform
Daniel Gallagher and Troy Paredes, the Republican members of the Securities and Exchange Commission, scrutinized the proposed overhaul of the money market mutual fund industry as pushed by SEC Chairman Mary Schapiro. "The changes the Chairman advocated were not supported by the requisite data and analysis, were unlikely to be effective in achieving their primary purpose, and would impose significant costs on issuers and investors while potentially introducing new risks into the nation's financial system," Paredes and Gallagher, who are calling for new ideas, said in a statement. SEC.gov/News release
(8/22), Reuters
(8/28), Bloomberg
(8/28), The Wall Street Journal/Dow Jones Newswires
(8/28)
| Practice Management | | |
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- Tech gadgets give financial advisers a new way to do business
Financial advisers are embracing a variety of smart new gadgets, such as iPads, filling them up with applications that help them relate to their clients and conduct business on the go. "Advisers want to replicate all of their business functions, but do it on a device that's mobile, lasts for 10 hours on a single battery charge and that they can use from almost anywhere in the world with a 4G connection," said Bill Winterberg, owner of Atlanta-based FPPad.com. The Wall Street Journal
(9/10)
| Industry Report | | |
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- Fiduciary best practices often aren't followed, survey finds
A survey of 500 registered investment advisers, investment advisory representatives and registered reps by Financial Advisor magazine, Boston Research Group and 3ethos finds that advisers don't adhere to fiduciary best practices to the extent they think they do. The average index score was 76, or a "C" letter grade. This comes as the industry debates a fiduciary standard for brokers. Financial Advisor
(9/2012)
- Few advisers have completely clean compliance records, study says
Of the $50 trillion in assets managed by investment advisers registered with the Securities and Exchange Commission, only 10% were held by firms with clean compliance records, according to a report from Diligence Review. Increasing litigation is the main reason so many firms lack a spotless record. AdvisorOne
(9/7)
- Financial advisers help clients escape new health care taxes
Financial advisers are developing techniques to allow wealthy clients to avoid paying the new 3.8% tax on investment income and 0.9% payroll tax increase adopted as part of the health care overhaul. Tax experts say the affluent can escape feeling the full effect of the tax increases by changing passive income to active income, taking capital gains this year instead of next year and moving profits into investments that are not subject to the new taxes. Reuters
(9/7)
| Capitol Update | | |
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| FPA News | | |
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Alternative Investments Triple Play
Three articles in the September Journal of Financial Planning tackle alternatives. Robert P. Seawright, J.D., explores the relative merits of mutual funds created to mimic "alternative" investments, Stephen Todd Walker examines historically misunderstood managed futures, and Michael E. Kitces, CFP®, CLU, ChFC, RHU, REBC, explains how low correlation can be a misleading indicator of what constitutes an alternative asset class.
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Celebrate Financial Planning Week
Oct. 1 to 7 marks FPA's 11th annual Financial Planning Week. Help us spread the word about this exciting event! Share activities on your social media networks, including Facebook and Twitter (hashtag is #FinancialPlanningWeek.) Learn more about FPA Financial Planning Week activities in your area. Please contact the Consumer Services Department to learn more about how you can participate.
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 | Ill habits gather unseen degrees, as brooks make rivers, rivers run into seas."
--John Dryden,
British poet, critic and playwright
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- Tuesday, August 28, 2012
- Tuesday, August 21, 2012
- Tuesday, August 14, 2012
- Tuesday, August 07, 2012
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