Enjoy the latest issue of “Weekend Reading for Financial Planners” – This Week’s Issue Reveals SEC Expands Advisor Custody Rules Beyond Securities and Funds to Cover All Assets in Client Portfolios It begins with the news that it is proposing to Estates, derivatives and crypto assets. In addition, investment advisors who are able to trade on behalf of their clients are deemed to have custody of their clients’ assets. This could move a substantial portion of the wealth management RIA community under custody rules, but we don’t know yet. Advisors who have discretionary custody but otherwise use third-party qualified custodians will be asked if and how compliance requirements with the custody rules will be introduced. Are precise compliance requirements introduced?
Also, this week’s industry news:
- A court ruling this week invalidated Labor Department guidance that a one-time rollover recommendation from a company’s plan to an IRA would trigger a fiduciary duty requirement under ERISA.
- Vanguard’s CEO this week indicated plans to invest heavily in direct indexing as the strategy’s use cases grow.
From there, there are several articles on practice management.
- The tactics the most successful RIAs use to attract and retain talent in today’s tight labor market
- Practice management techniques that help businesses improve long-term health, not just short-term profits
- A recent advisor survey found that while AUM remains the most commonly used advisor compensation structure, an increasing number of firms offer multiple compensation models.
There are many articles on retirement planning.
- Survey data shows that retirees want flexibility with their spending, which is influencing their retirement income plans.
- How advisors can add value to their clients by helping them make better Medicare decisions
- Why an Advisor Decided to Buy Indexed Universal Life Insurance for Himself
Finally, we conclude with three articles about everyday life.
- Why Practicing Gratitude Can Help You Not Miss Its Important Impact On Your Well-Being Life
- Why focusing on having a ‘good day’ is a better path to success in an era where optimizing every minute of your day is all the rage
- What Advisors Can Do to Help Clients Avoid “Deferred Life Plans” and Make the Most of Life Today
Enjoy your “light” reading!
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