PTE 2020-02

A Summary of PTE 2020-02

Our Chief Compliance Officer has put together a summary of the fiduciary advice exemption PTE 2020-02 for our own Wealth Managers. PTE 2020-02 provides an exemption from the prohibited transaction rules for investment advisor fiduciaries with respect to employee benefit plans and individual retirement accounts (IRAs).  Please consult your compliance consultant for more information.  Background:…

Making a Case For Outsourcing

A lot has been written about the changes that COVID has brought to many aspects of our lives—from work, communication and education.  One longstanding business trend accelerated during COVID: outsourcing as a means of improving productivity and customer access. The same could be said about financial advisors use of third-party outsourcing. There has been a…