See the latest on the Wealth Management Industry including M&A activity, diversity and inclusion and RIA updates.
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In a testimony before the House Committee on Financial Services, the new SEC Chair noted the regulator would evaluate Reg BI, and "update and freshen" it if need be.
The Financial Services Institute opposed the Labor Department's decision, arguing it would keep independent financial advisors from 'operating confidently knowing their independent contractor status is secure.'
Rockefeller has been on a hiring tear in recent years, adding advisers across the U.S. from rivals including Morgan Stanley and Merrill Lynch, including two dozen new teams in 2020.