Glenn Koch

2 months ago | portfolio.bisanet.org | Glenn Koch |Rich Blake |Jack Pitcher

A coalition of broker-dealers and industry trade groups is asking lawmakers to extend an expiring tax break for owners and shareholders of pass-through businesses and to expand its scope to include independent financial advisors. Section 199A of the 2017 Tax Cuts and Jobs Act allows a deduction of as much as 20% of qualified business income for owners of some types of small businesses.

2 months ago | cfp.net | Glenn Koch

Financial Advisor IQ Broker-dealers and industry trade groups are urging Congress to include independent financial advisors in the category of small businesses eligible for a tax write-off as part of Section 199A of the 2017 Tax Cuts and Jobs Act. Erin Koeppel, Managing Director of Government Relations at CFP Board, emphasized that expanding access to this deduction would strengthen the financial planning profession and improve access to ethical financial planning for more Americans.

2 months ago | portfolio.bisanet.org | Jack Pitcher |Rich Blake |Glenn Koch

In the first major initiative in Salim Ramji’s six-month run as chief executive, Vanguard on Monday slashed the fees on nearly half of its U.S. funds. The fee cuts are the steepest in the history of the money manager. In an interview, Ramji discussed the fee cuts and what else is on the horizon at Vanguard, including expansion of its advice services. Read the full article on The Wall Street Journal

2 months ago | portfolio.bisanet.org | Jesús Aguado |Rich Blake |Glenn Koch |Jack Pitcher

Christiana Riley will succeed Tim Wennes as CEO of Santander in the United States, part of a wider global restructuring. As part of the changes, Santander will eliminate the three regional divisions in Europe, North America and South America that it launched in 2019 while going forward with the implementation of its five global units. The restructuring takes place at a time when Santander is expanding its footprint in the United States in areas such as corporate and investment banking.

2 months ago | portfolio.bisanet.org | Tracey Longo |Rich Blake |Glenn Koch |Jack Pitcher

The Financial Industry Regulatory Authority (FINRA) has released an extensive list of the ways registered representatives and their firms are violating Regulation Best Interest (Reg BI). For instance, firms and reps are failing to conduct “reasonable investigations” into offerings prior to recommending them, and not identifying conflicts nor disclosing, mitigating or eliminating them as required by Reg BI, FINRA said in its annual regulatory oversight report.