Morning Memo
Wealth Management Morning Memo

OCTOBER 7, 2017

THE FIDUCIARY RULE

SEC Is Working on a Fiduciary Rule Proposal

“You can’t put one hat on when you’re talking about 50 percent of your assets and another hat on when you’re talking about another 50 percent. It makes no sense,” said SEC Chairman Jay Clayton.

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TAX REFORM

Trump's Tax Plan Explained

A high-level overview of the key provisions of the Republican tax reform framework.

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HIGH NET WORTH

Mnuchin Recommends Withdrawal of Proposed 2704 Regs

What impact will this have in concert with Trump's new tax plan?

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TAX REFORM

Poll: Advisors on Trump’s Tax Plan

A flash poll of over 300 financial advisors shows many favor Trump’s tax plan for their clients—and themselves.

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PEOPLE

HighTower’s Michael Parker Departs To Lead Recruitment at RBC Wealth Management

“I get to do what I do best and love to do most ... which is drive growth and attract the best and brightest in the industry,” Parker said.

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PEOPLE

Lagarce Out, Durbin In as Head of Fidelity Institutional

The head of Fidelity Institutional's product and platform technology group will now serve as president of the division.

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BUSINESS PLANNING

The Man Behind the Robo Curtain

Apex Clearing has emerged as the custodial and clearing partner behind many of the consumer-facing automated advice platforms. Now they’re bringing the tools to human-powered registered investment advisors.

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TECHNOLOGY

Redtail Launches Compliance-Approved Text Messaging Service

CEO Brian McLaughlin says Redtail Speak eliminates the barriers to speedy, efficient client communication.

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RETIREMENT PLANNING

Two Tech Vendors Create End-to-End, DOL-Compliant Retirement Planning System

RetireUpPro is designed to help firms comply with the Department of Labor’s fiduciary rule.

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HIGH NET WORTH

The 10 Countries Gaining the Most Millionaires

The biggest mover was Russia, growing nearly 20 percent after declining a bit in 2015.

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