Welcome to the
TDA4advisors Blog

We are excited to share a collection of relevant, timely, and insightful articles that can help you grow and strengthen your business. TD Ameritrade and leading industry experts will be contributing their unique perspectives on the challenges and opportunities that RIAs are facing today. Thank you for joining our community and we look forward to connecting with you!

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  • by Skip Schweiss
  • President, TD Ameritrade Trust Company
    Managing Director of Advisor Advocacy & Industry Affairs

Fiduciary standard back in the SEC spotlight

Just when you thought the Securities and Exchange Commission had shelved all work on the fiduciary standard, rules governing broker and adviser conduct are back in the spotlight.

Jay Clayton, who last year took over as SEC chairman, has declared that broker and adviser standards are a high priority for the coming year and that the commission could propose a new conduct rule as early as this spring.

The conventional wisdom says the SEC is eager to hammer out a rule before July 1, 2019, when remaining provisions of the Department of Labor’s Conflict of Interest Rule are scheduled to come into effect.  It is therefore possible that the SEC rule could play a role in how advisory firms comply with the DOL rule, fundamental provisions of which went into effect in 2017.

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  • by Skip Schweiss
  • President, TD Ameritrade Trust Company
    Managing Director of Advisor Advocacy & Industry Affairs

A New Approach to Elevating Broker Standards

Though RIAs and their advocates have for years pounded the table urging regulators to enact a uniform fiduciary standard for both brokers and investment advisors, industry thought leaders at a recent TD Ameritrade Institutional forum considered a new message: Be careful what you wish for.

Recently, we convened our fourth Advocacy Leadership Summit in Washington, with dozens of industry thought leaders engaged in a roll-up-your-sleeves discussion about the best way forward on regulations. We were fortunate to hear from Rick Fleming, the head of the SEC’s Office of the Investor Advocate, who expressed some concern that any harmonization of standards between brokers and advisors would lead to lower, watered-down RIA standards.

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  • by Skip Schweiss
  • President, TD Ameritrade Trust Company
    Managing Director of Advisor Advocacy & Industry Affairs

Summertime Remains Busy Times for Regulatory Developments

August 9, 2017 – Like most folks, I usually look forward to some downtime in July and August.  Evidently, that is just not to be this summer.

summertime-busy-regulatory

In my last blog, I pointed out all the advisor regulatory developments  that made June 2017 the busiest, arguably the most newsworthy month in a long time in this arena. As I write this in early August, the pace of noteworthy regulatory development remains strong, with a number of new developments to report.

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