sidebar

Connect: 888-821-8107

henschen Tag

ThinkAdvisor

LPL, Edward Jones Pre-DOL Rule Shifts: Smart Moves or Overreaction?

15:49 18 March in In the News

March 7, 2016

By Janet Levaux, ThinkAdvisor

 

Industry watchers share their views on the merits and drawbacks of such an approach by several broker-dealers

The financial-services industry is holding its breath in anticipation of the Department of Labor’s new fiduciary standard. A couple players, though, have chosen to exhale and roll out pre-emptive programs.

LPL Financial (LPLA) announced Wednesday that it would cut prices and account minimums and launch a fund-only brokerage IRA option. And Edward Jones says it is in the pilot stage of a program to let clients with just $5,000 “get guided support.”

Do such moves make sense? Industry recruiters and consultants have mixed feelings, though at least one consumer group is pleased.

New owner of AIG Advisor Group may be announced Tuesday

01:17 26 January in In the News

January 25, 2016

by Christine Idzelis, Investment News

 

Call set for 8 a.m. for parent company to discuss plan to sell off some non-core businesses

Brokers at AIG’s Advisor Group may find out as early as Tuesday morning who the new owner of the adviser network will be.

American International Group Inc. has scheduled a call for 8 a.m. Tuesday to discuss its plan to sell off some of its non-core businesses. The firm has been under pressure from billionaire investor Carl Icahn to break itself up to unlock shareholder value.

Citing anonymous sources, the Wall Street Journal reported Sunday that AIG is nearing a deal to sell its broker-dealer business and named Lightyear Capital as a buyer.