A federal judge has granted the Department of Labor's motion to pause two cases involving its 2024 fiduciary rule, according to Financial Advisor. The rule, approved under the Biden Administration, would expand the definition of fiduciary under the Employee Retirement...
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Charles Schwab to charge advisors in network program an extra 5% for referrals
Charles Schwab announced that it is increasing fees for advisors participating in its Schwab Advisor Network referral program, reports FA Mag. The advisors will have to pay a 5% increase for client referrals from the firm’s retail branch offices. “As we have shared...
Bill introduced to eliminate income taxes on Social Security benefits
A bill that would eliminate income taxes on Social Security benefits has been introduced in the House of Representatives, according to ThinkAdvisor. Rep. Thomas Massie (R-Ky.) proposed the Senior Citizens Tax Elimination Act, H.R. 1040 recently with 29 Republican...
New study details shortage of advisors in the wealth management industry
A new study finds that a looming shortage of advisors will be one of the challenges facing the wealth management industry over the next decade, reports AdvisorHub. The report by McKinsey & Company found that overall, the industry entered 2025 in a position of...
Department of Labor files motion to keep new fiduciary rule on hold
The Department of Labor's new rule updating the definition of an investment advice fiduciary will remain on hold as the result of recent legal action, according to WealthManagement.com. The rule, approved under the Biden Administration, would expand the definition of...
