Compliance Definition Fee Only 
Inside Information
APRIL 26, 2024
The broker-dealers would tell their reps (and some still do) that if they were to venture outside of the BD’s compliance umbrella and go fee-only, the SEC would come after them with a vengeance. Or that FINRA is going to take over the regulation of all advice-givers, and bring the hammer down on those fee-only ‘rogue brokers.’
Sara Grillo
JANUARY 9, 2023
Specific examples: Educating financial advisors of all business models (AUM, fee only, commission, etc.) Executing outreach to college students to encourage them to avoid predatory wirehouse and insurance training programs and pursue fee-only paraplanning jobs instead. Some define it as a document, others as a service.
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Inside Information
OCTOBER 30, 2021
It has said that the firms themselves should define what it means, and develop policies and procedures congruent with what they believe it means.”. A professional organization is interested in ensuring that everybody under the umbrella meets a clear set of standards.”.
Sara Grillo
MAY 23, 2022
What is an advice-only financial planner? Advice-only financial planning is fee-only comprehensive financial planning without the expectation or even the option to manage any client investments. Financial planning is offered as a stand-alone product; it is the only thing that an advice-only financial planner does.
The Big Picture
APRIL 25, 2023
Brian Hamburger has been one of the leading authorities in the world of registered investment advisories, broker-dealers, SEC regulatory compliance. But I was definitely informed by my father’s study groups, you know, I knew his network of friends and colleagues. RITHOLTZ: Compliance, legal, and risk. RITHOLTZ: Right.
Sara Grillo
APRIL 11, 2022
He also has considerably less of a compliance, operational, and administrative burden because he is not taking custody or discretion of his clients’ assets. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice. For advise on such matters, contact a legal or compliance advisor.
The Big Picture
JANUARY 21, 2025
I mean, these sort of traditional brokers were much slower to adopt ETFs than, you know, fee only financial advisors. It was just a struggle from day one, particularly in the regulatory environment that is the securities business between lawyers and compliance people. People definitely seem to be happier to give away money now.
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