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Tag Archives: DOL Fiduciary rule

Analytic reports, brokers, financial consulting, fundblast, mutual fund, financial services, data management, counterparty relationships, delta data

Employee Spotlight: Bret Bange and Jason Davenport

Our employee spotlight this week, includes two great men. This year has been one of innovation, achievement, and exciting growth here at Delta Data. Some of our notable accomplishments in 2018 include the launch of new products such as FundBlast and our Proprietary Product Manager, recognition as a TAG Top 40 Innovative Tech company, and a NICSA Nova award win for Innovation in Technology. Read more

Fund Communication Shouldn’t Bog Down Broker Dealers

It’s indisputable that fintech is rapidly changing the landscape of financial services. It seems as though there’s a new innovation every day promising that Mutual Fund asset managers can leave their outdated legacy systems behind. Broker-dealers have been particularly hampered in recent years due to where they sit in the mutual fund supply chain. They are pulled in all directions, whether it’s their fund company partners adding or altering share classes or responding to demands from their investment managers around product availability, performance, and transparency. Read more

DOL Fiduciary Rule

In Episode 12 of the Days of our DOL Lives …

Congress still on the “outs” with DOL pick ─ who, in turn, has undisclosed Nanny Baggage to resolve. Meanwhile, Donald still has commitment issues …

If you thought this was going to be a political piece, sorry to dismay but it is not. This is the actual update from the past few days of our lives. Politics aside, the viewing audience has been kept on their seats in deft fixation on the outcome. The cost to the industry of the seesaw of the last four airings of this melodrama has to be in the Billions of dollars. The winners? The lawyers and consultants. The losers, the Investors. Read more

For Mutual Fund Distributors, RegTech Is Now A Question of Survival

Whatever happens to the Department of Labor fiduciary rule, the mutual fund industry is moving into a “fiduciary era.” For one thing, investment advisors hope to capitalize on investors’ heightened awareness of the role of a fiduciary. For another, the backlog of regulatory change that must be implemented is large and there are many processes in place that were implemented with time to market not efficiency of execution that need to be addressed.

Besides demanding ever-greater levels of transparency, regulators are also beginning to turn their attention to RegTech, to ensure investment firms have the systems to manage compliance workloads. As we look ahead to a future dominated by financial technology, it’s becoming clear that when it comes to data management, only the fittest will survive. Read more

The DOL Fiduciary Rule is Igniting a Revolution in the Mutual Fund Industry’s Back-Office

The burning issue for the mutual fund industry is whether the Trump administration will curtail or rescind the Department of Labor’s fiduciary rule. The nomination of Andrew Puzder for Labor Secretary, who is anti-regulation, could mean changes to the fiduciary rule as it currently stands.  While it’s meant to remedy conflicts of interest in the provision of commission-based retirement products, opponents fear it could lead to advisors to abandon mass-market clients. Read more

Jim Carrey for Education Secretary and Effect on DOL Rule

 

Today’s news declaring Andy Puzder as Trump’s pick for Labor Secretary does not bode well for the short-term prospect of moving the date of the DOL Fiduciary Rule. For the past several weeks, the consensus in our industry was that the date could be moved by the incoming Secretary. The caveat is that the incoming Labor Secretary’s ability to move the date hinges on his/her confirmation by the legislature in a timely manner. Read more

The New Stripped Down Mutual Fund Share Classes

The new DOL Fiduciary rule has barely gone into effect, and it is already starting to shake things up. One of the first changes we are starting to see is a new set of mutual fund share classes. American Funds and Franklin Templeton have already announced new share classes to help advisors deal with the new fiduciary rule. Rest assured, there will be more.

These new share classes are what some are calling “stripped down” share classes as they carry no sales load, no 12b-1 fees and no sub-TA fees. Bare bones. Absolutely no compensation from the fund to the distributor. It is up to the distributor to figure out how to charge their clients and in turn compensate the advisor.

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