Financial Advisor Fee & Fiduciary Rule Watch

Why this is recommended

Catching a 0.25 point fee increase on a $500,000 account is $1,250 a year, a barred advisor's name before signing prevents a fraud, and a fiduciary rule that covers rollovers protects a life savings.

What the Tab covers

Who it is for

The 40 million households paying an advisor, the people about to hire one, and the retirees deciding whether to roll a 401(k) into an IRA.

When it runs

SEC and DOL rules take effect on fixed dates, advisory firms change fee schedules with 30 days of notice, and FINRA disciplinary actions publish monthly

Scope

DOL and SEC rulemaking and litigation; FINRA BrokerCheck disciplinary actions; fee changes at Vanguard Personal Advisor, Schwab, Fidelity, Merrill, Morgan Stanley, Edward Jones, Betterment, Wealthfront and Facet; NAPFA and CFP Board standards; state insurance commissioner annuity rules

Suggested task

The objective your Tab starts with. You can edit every line of it once the Tab is yours.

DOL fiduciary and SEC best-interest rule changes and court rulings, advisory fee schedule changes at major firms and robo-advisors, FINRA and SEC enforcement actions against advisors and broker-dealers by name, new fee disclosure requirements, annuity and insurance commission rule changes, and free or flat-fee advice programs, with the firm and the change first.

Track financial advice rules and costs for US investors. Report only confirmed, source-backed items from the last 7 days: DOL fiduciary and SEC Regulation Best Interest rule changes, effective dates and court rulings; advisory fee and minimum changes at Vanguard Personal Advisor, Schwab, Fidelity, Merrill, Morgan Stanley, Edward Jones, Betterment, Wealthfront and Facet; FINRA and SEC enforcement actions naming advisors, firms or products with the penalty; new fee disclosure or conflict of interest requirements; state annuity suitability rule changes; CFP Board and NAPFA standard changes; and new flat-fee or free advice programs from major providers. Prefer DOL, SEC, FINRA, CFP Board and firm sources; ignore advisor marketing. Put the firm and the change first in the title. Use high severity for a fee increase over 0.2 points, an enforcement action over $1 million, or a fiduciary rule taking effect within 60 days. Return no more than 6 findings. Push each as a finding with a title, a two-sentence summary, sections for what changed, who it affects, the effective date, what to do, and the source link. If nothing qualifies, push nothing and submit the run receipt.