Shorter settlement cycle means banks’ brokerage services face challenges
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third parties will face bigger hurdles.
Browsing: Wealth Management
MSRB proposes to extend SEC’s Regulation Best Interest to bank dealers
The Municipal Securities Rulemaking Board today proposed a rule change that would amend an existing rule on the suitability of recommendations and transactions.
National Bankers Association partners on program to help close the racial wealth gap
The National Bankers Community Alliance, the nonprofit arm of the National Bankers Association, launched a financial wellness program to help minority communities close the racial wealth gap.
ABA applauds DOL’s delay of proposed changes to Form 5500
The American Bankers Association thanked the Department of Labor for deferring regulatory action on the Schedule H reforms proposed by the department in its recently finalized revisions to Form 5500,
ABA recommends changes to SEC’s proposed MMF reforms
As the Securities and Exchange Commission contemplates reforms to strengthen the transparency and resiliency of money market funds, ABA urged the commission to “carefully consider any changes that may affect the availability of these funds to bank fiduciary and non-fiduciary accounts.”
Podcast: How donor-advised funds fit into bank strategy
Often described as “charitable savings accounts” or “charitable checkbooks,” donor-advised funds are one of the fastest-growing charitable vehicles. Evan Sparks talks about how banks of all sizes are building DAFs into their wealth management strategies.
The art of courting wealthy millennials
When it comes to their private banks, millennials are not happy.
SEC Staff Bulletin Addresses Standards of Conduct for Broker-Dealers, Investment Advisers
The Securities and Exchange Commission this week issued a staff bulletin of frequently asked questions and answers related to standards of conduct for broker-dealers and investment advisers when they are making account recommendations to retail investors.
Study: Millennials Opting for Will-Based Estate Plans
A recent study found that 75.1% of millennials are opting for will-based estate plans and 18.8% are using a trust-based estate plan.
Labor Department Seeks Input on Climate-Related Financial Risks for Retirement Plans
The Department of Labor filed a request for information today seeking public input on its forthcoming work on retirement savings and climate-related financial risks.