PlanPlus Global Blog

Read the latest insights on risk profiling, suitability, financial planning, portfolio planning and the advice industry at large from our internal experts.

SEC’s New ‘Regulation Best Interest’ Rule Sparks Controversy

The SEC’s new ‘Regulation Best Interest’ standard requires broker-dealers to act in the client’s ‘best interest’ which, it is argued, is a higher standard than the FINRA suitability rule. But critics are not so sure. There are a number of opponents lining up to attack the new SEC rule. They generally argue that the rule…

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Freezing of UK Fund Triggers Global Alarm Liquidity Risk Alarm

Questions are being asked around the world about the liquidity risks of funds invested in unlisted or illiquid assets, after a major UK fund was forced to suspend trading when it could not sell assets quick enough to meet redemption requests. The £3.6 billion Woodford Equity Income Fund was suspended on 3 June, due to…

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Tracking, Monitoring, and Maintaining Suitability

Tracking, monitoring and maintaining suitability Suitability is judged at a point in time — but things can change! Suitability has to be tracked, monitored and maintained as required. On the client-side, the change could come in a number of ways. The client might have had a change in their financial objectives, which means previous arrangements…

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Professional Judgement or Just My Opinion?

Advisors must reconcile conflicts between a client’s risk tolerance, risk capacity, risk need, composure, previous experience, time horizon and more in determining an investor profile and resulting personalized investment policy. There is little or no body of knowledge on how these trade-offs occur or what constitutes a “best practice” in applying “Professional Judgment” to ensure…

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Wealth industry unprepared for liability shift in new ‘Seller Beware’ rules

New rules likely to soon pass Australia’s parliament will make financial advisers and product issuers directly liable for ensuring financial products are only sold to suitable customers — shifting responsibility from ‘buyer beware’ to ‘seller beware’. ” Australians haven’t yet recognised the tremendous significance of these new financial suitability laws, which turn conventional wisdom about…

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