Greetings!
Hey, everyone!
I hope we're all doing well. It's starting to feel like fall outside and while I love this weather, I know it's a shock for a lot of others!
We've had a few workshops since the last newsletter so this is the first one a lot of people will be receiving. We've got three articles again this month. The Wall Street Journal articles are a little old, but Jim wanted to highlight the impact of the Frank/Dodd Financial Reform Act once again. Those rules will start being enforced soon and all broker-dealers and financial planning firms will be scrutinized more and held to the fiduciary standard that Registered Investment Advisory firms, such as JDS Wealth Management Corp., already adhere to. It's going to be a big change in the financial landscape and it's important that everyone is aware of the incoming changes.
We have workshops next month in Charlotte; check our website soon for the dates and times!
Until next month, take care!
 -- Tyler Stillman |
| What's No. 1 for Brokers?
The Wall Street Journal, December 6, 2010
|  Putting client interests first may seem like a simple concept, but it's causing an uproar on Wall Street.
The Dodd-Frank Act, the landmark regulatory overhaul passed in July, gives the Securities and Exchange Commission until January to complete a study of a possible single standard of client care for two types of advisers: brokers and registered investment advisers. The agency can then write new rules requiring a uniform standard.
The expectation is that such a standard would be closer to the client-first rule that currently applies to registered investment advisers, rather than the longstanding requirement that brokers recommend only "suitable" investments. (Registered advisers are regulated by the SEC or states, while brokers register with and are regulated by the Financial Industry Regulatory Authority, Wall Street's self-policing organization.) The securities industry supports the change-to a degree-but is worried that it could mean changing certain practices that are critical to its business models.
Read more... |
Will New Rules Stop Brokers
From Nibbling on Your Returns?
The Wall Street Journal, March 26, 2011
| |
Brokers' charges might-just might-be about to drop.
But you shouldn't drop your guard.
The Financial Industry Regulatory Authority, which oversees the brokerage business, is seeking to modernize its decades-old standards for judging whether transaction costs are appropriate.
Intended to clarify the murky realm of trading costs, the changes might not be uniformly positive. Finra hopes to alter a rule interpreted by some brokers to mean that transaction charges of up to 5% aren't excessive. But the regulator also is seeking to scrap a provision that restricts brokers from charging two commissions on linked buy-and-sell transactions.
Read more...
|
European Update
Thought for the Week, October 3, 2011
| |
 Despite the lack of any new facts, the Greek Debt Crisis continues to drag down Global Stock and Credit Markets. Considering Apple has reportedly enough money on its balance sheet to write a check tomorrow and clear the European bank exposure to Greece, the profound, far reaching effects of Greece's financial problems is astounding.
There are two major reasons for European worry:
- Contagion
- Banking Exposure
...both of which threaten the Global credit stability, given that no one really knows what liabilities the major investment banks contain deep within their balance sheets.
The negative effect a troubled European economy would have on world growth is giving the rest of the World reason to worry.
Read more...
|
|
|
|
|
 | Follow us!
| Check us out on Facebook and Twitter to keep up to date on what's going on with us at the office and around Lake Norman!
|
|
|
