MarketCounsel, the business and regulatory compliance consultancy for independent advisors, has hired Anthony Stich, former chief revenue officer at digital guardian Entrustody, as executive director. Stich confirmed the move, which will take effect May 16, at the Wealth Management EDGE conference at The Diplomat Beach Resort in Hollywood Beach, Fla. this week. Brian Hamburger, president…

The SEC is proposing a new customer identification program following the Treasury Department's February 2024 proposal to curb potential money laundering. The program would require RIAs and exempt reporting advisers to “implement reasonable procedures” to verify the identity of each client. Advisers will be required to obtain “certain identifying information” about each client, including their…

'Wealth Effect' Stan Sattler, director of investment solutions at Belle Haven Investments, a boutique asset manager, said the trend toward separately managed accounts is due to the “wealth effect.” As interest rates rise, institutions are rebalancing to fixed income as a tactical move. These big money centers are sending more money to SMA. Sattler says…

Cyber ​​regulations to make it more expensive to run an RIA Regulators recognize that more definitions are needed around cybersecurity for wealth managers, and they are working to put them in place, said Michael Cocanower, founder and CEO of AdviserCyber. Connected: AI Assembly at Wealth Management EDGE: The Future of AI Whatever you are doing…

Key Investment Book Address: Cruise Market Dynamics: Trends Impacting Advisors and Clients Brian Klimke, chief market strategist at Cetera Financial Group, said during his keynote that if housing costs are removed from the CPI, inflation is close to 2% and not that far off the Federal Reserve's target. And housing costs are coming down, there's…

Three predictions for the future of AI Remember the advent of robo-advisors? Connected: Live From Wealth Management EDGE: The Inflation Storm While generative AI will be similar, in that it won't be a “big bang” that replaces advisers, it will be more transformative, said Cory McCruden, managing director of wealth and asset management at Ernst…

Adults learn differently than children or even college students, something most undergraduate executive education programs know and practice. However, financial services, especially the 401(k) industry, have yet to learn these lessons. Defined contribution plan sponsors and participants are uniquely challenged. Plan administrators step into their roles with little or no training to navigate ERISA, which…

The US inflation rate rose on average in March with the personal consumption expenditure price index and the core PCE price index each up 0.3%. Annual inflation remains close to 3% rather than the Fed's target of 2%. Those numbers, along with near-record low unemployment, have dampened expectations of when the Fed might cut rates….

For an insurance logician, the Department of Labor framework Retirement Insurance Rulein which future recommendations made to retirement savers are viewed almost exclusively through the lens of investment advice, is logically problematic. The regulatory confusion of “wealth/financial” with “investment” dates back to 1987, and essentially disadvantages the insurance industry (liability minimization). It also hurts the…

I have been a financial executive for about 25 years now. I started at American Century Retirement Planning Services. Shortly after I started, JPMorgan Chase bought it and I created the divisional accounting department there. I have held other roles at various companies in consumer goods retail, manufacturing and packaging. I came to Prime Capital…