Archive - March 3, 2018

1
How to Comply With the SEC’s Strange New Custody Rule

How to Comply With the SEC’s Strange New Custody Rule

This past year, the Securities and Exchange Commission (SEC) changed their definition of what it means to “have custody” of client assets again. Now, it appears that investment advisors who are allowed to transfer the required minimum distributions (RMDs) from a traditional IRA to the same client’s joint account with his or her spouse are deemed to “have custody” of client assets. This is because while the advisor considers the husband and wife’s assets jointly, the SEC may views the husband and wife individually. With this individualistic view, the advisor is transferring money into the control of a third party …

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login