SEC rule requires brokers to stop calling themselves advisors


Many financial advisors may soon have to start calling themselves something else.

Some financial and wealth advisors will have to ditch the term “advisor” in their marketing, according to a federal rule that takes effect next month.

The rule, known as Regulation Best Interest, and issued by the SEC, aims to reduce investors’ confusion around professionals who help manage their personal finances.

Investor advocates, however, believe the action will be ineffective and further muddy the waters.  

Broker vs. financial advisor

The issue concerns the difference between brokers and financial advisors.

Brokers conduct transactions such as stock trades for their

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50% of all these malls forecast to close by 2021, Green Street Advisors says


Signage is displayed outside a JC Penney Co. store in Chicago, Illinois.

Christopher Dilts | Bloomberg | Getty Images

First, the department store closes. Then, the apparel shops try to scoot out of deals. This is a one-two punch that could trigger a wave of malls shutting for good over the next 12 months. 

More than 50% of all the malls anchored by department stores in America could close permanently by the end of 2021, a new report by Green Street Advisors predicts. There are about 1,000 malls still open in the U.S. And roughly 60% of those have department

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Advisors must help clients get back to basics during volatility


It’s obvious we are living in highly uncertain times.

Markets are extremely volatile, and monetary and fiscal policies change from day to day. Most clients are extremely anxious, unsure of how the market is going to move and how those moves will impact their portfolios.

While financial advisors must continue being proactive – helping clients maintain their financial well-being – the most effective advisors are managing their clients’ emotional well-being, as well.

Financial advisors who are proactive in their outreach, helping clients understand the markets and, most importantly, how and why the ongoing changes in valuations are relevant (or not)

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J.C. Penney to hire advisors as it mulls options for debt: Bloomberg News


FILE PHOTO: A J.C. Penney employee helps a customer with her purchase at the J.C. Penney department store in North Riverside, Illinois, U.S., November 17, 2017. REUTERS/Kamil Krzaczynski/File Photo

(Reuters) – J.C. Penney Co Inc (JCP.N) has approached consulting firm AlixPartners LLP as the U.S. retailer looks at options for managing its debt, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.

Brick-and-mortar retailers are struggling to keep up with the shift to online shopping, and the crisis has been exacerbated by the coronavirus outbreak which has forced them to shutter stores and furlough employees.

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