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Articles tagged "Ron Rhoades"


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Headwinds and a rocking boat in late 2022 force RIA players to seek their balance.

Biz Briefs: Envestnet's sweet terms net $575 million after seeking $350 million ~ Ron Rhoades fights for right to write by tweet ~ InvestmentNews is packaged for sale ~ Chuck Schwab pays for red wave

Bill Crager is pulling out the stops and purse strings; Western Kentucky isn't all basketball; Charles 'Chuck' Schwab plunks more cash on GOP, and Sallie Krawcheck stumps for the Dems.

November 19, 2022 at 1:44 AM

Michael Kitces:  "If you're going to be a hybrid broker/advisor, you can't market that you're an advisor - and then swerve into being a broker."

Michael Kitces picks his moment to demand the SEC close two giant faux-RIA loopholes -- the hat-switching 'hybrid' advisor and the wirehouse 'financial advisor'

The XPYN founder wants the SEC to honor its 'Merrill Lynch Rule' promise from 15 years ago, demanding the most fundamental truth in advertising.

October 1, 2021 at 10:33 PM

Ron Rhoades: Simply put, at the age of 62, I was beginning to feel old.

The story of how Ron Rhoades sold his RIA to (and joined) a local $3.7-billion AUM firm to plan succession and to keep nearly a full professor's schedule

The ageless Kentucky-based advisor and fiduciary advocate is 63, plans to work to 77 and accepts his mortality but he doesn't want to choose between the teaching he loves and advising the clients he cherishes.

May 7, 2021 at 9:56 PM

David Mannaioni:  Many clients in passive portfolios still bailed on the market in the COVID decline this spring only to miss out on the recovery this summer.

Dodging ridicule and winning 'wary' support, the College For Financial Planning will accredit advisors who learn to convince investors to take their advice seriously

After Covid-19 chased investors out of the market at the exact wrong time, the Kaplan-owned company made its move to advance managing emotions as a sanctioned skill in financial planning -- despite too many letters in the alphabet soup already

November 25, 2020 at 1:40 AM

Ron Rhoades:  It is one thing to lobby and inform. It is quite another to orchestrate group boycotts, which are an anti-competitive practice.

Ron Rhoades tells Ira Hammerman that his response on SIFMA's behalf failed to address the 'undeniable' -- the threat of boycotts

The Kentucky professor schools the Washington lobbyist on the looming threat of broker-dealers forcing reps to sacrifice their CFP designations -- and questions Hammerman's math on 'one million employees' he claims to speak on 'behalf' of

June 20, 2019 at 6:37 PM

Ron Rhoades says that when brokerage associations (i.e. FSI and SIFMA) and broker-dealers, like Morgan Stanley, offer threatening boycott comments in symphony, that they may very well break the law.

Broker-dealers' new power tactic -- threatening to quit states altogether -- to thwart local fiduciary rules for advisors sure looks like blatant misuse of power

SIFMA, FSI and Morgan Stanley made overt threats to Nevada and New Jersey and CFP Board that have more than a whiff of conspiracy to restrain trade

June 18, 2019 at 10:58 PM

Ron Rhoades: The S.E.C.’s Regulation BI's attempts to redefine the English language, hence misleading individual investors for all time.

Will the S.E.C. aid and abet fraud in 2019? A fictionalized grilling of Jay Clayton under truth ether reveals the perils

With brokers the special interest, the simple principle of putting client interests first, gets mangled in the wording. But two can play that game so Ron Rhoades fights back with his pen

December 27, 2018 at 8:40 PM

Michael Kitces: Was there a major downturn on the CFP Board’s 2016 Form 990 that we just can’t see yet?

Michael Kitces attacks CFP Board for jacking fees 17% in name of 'strategy' when the certificant is flush with $20 million in reserves

The Board defends murky financials and a 'buried' hike as overdue -- even when it's operating at a $1.3 million surplus

September 18, 2017 at 7:23 PM

Ron Rhoades: Mr. Scaramucci likely saw the Department of Labor regulation as a threat to his firm.

In letter to RIABiz, Ron Rhoades reacts to the ardent DOL rule detractor commandeering the White House microphone

Citing the new voice of the White House as 'contrary' in his comments regarding the Labor Department's efforts to shift Wall Street's culture and ways, the fiduciary scholar beseeches Scramucci to think it over

July 22, 2017 at 12:02 AM

Virginia Foxx: The Obama administration advanced a partisan rule that makes it even more difficult for hardworking men and women to save for the future.

Who's afraid of Virginia Foxx and friends? Maybe pro-DOL forces should be but no panic yet

With nine days and counting until President Trump, Conservatives deploy fresh troops in Washington with guns trained on the DOL rule

January 12, 2017 at 12:49 AM

Andy Puzder takes a minimalist approach to the pensions of his workers.

Mum on DOL rule, Labor chief appointee Andy Puzder's 'check-the-box' 401(k) plan at CKE Restaurants speaks volumes

The expensive Mercer-advised pension plan has low participation rates, low balances, no matches and few assets overall

December 13, 2016 at 8:50 PM

Lobbying took on a new meaning at the Fontainebleau this week at the MarketCounsel Summit.

MarketCounsel Summit 2016 -- the theme is when the boss calls, you go

The Fontainebleau glitters, but not with newly minted Trumpsters, as Summit chief Brian Hamburger got more than he bargained for with the conference's theme of 'change'

December 9, 2016 at 4:41 PM

Ron Rhoades: The worst case would be adopting a rule and calling it fiduciary when it is actually a much weaker standard.

At MarketCounsel, a Ron Rhoades-Skip Schweiss exchange reveals new DOL-rule threat -- a Trump-led compromise creating a mutant strain of the reg that benefits no one

The problem, Rhoades says, is that a pseudo-fiduciary standard asks consumers to assume the burden of knowing what's best for them when it comes to investing, which brings the problem full circle

December 7, 2016 at 8:33 PM

Brian Hamburger: The combination of a Donald Trump presidency and a Republican Congress will have an enormous impact on the momentum of the expansion of a fiduciary duty on those that give financial advice.

The DOL rule is DOA -- and that's just the beginning, says RIA champion Brian Hamburger, law school chum of odds-on chief of staff Reince Priebus

Another Trump advisor, hedge fund biggie Anthony Scaramucci, says the DOL rule is a goner along with other post-'08 consumer firewalls -- but fiduciary advocates see one last bulwark: BICE

November 11, 2016 at 5:29 PM

Ron Rhoades: Any 'complexity' ... is the direct result of their own appeal to the DOL to adapt the fiduciary principle to the conflicted compensation practices of the B-Ds and insurance companies.

The short scoop on Wall Street's claim that the DOL rule is too long

The core of the Labor Dept's rule is 237 words; blame the prolix portion on exemptions accorded to complainers' interests

July 19, 2016 at 6:53 PM

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