TITLE

Glass-Steagall Stealth Reform

AUTHOR(S)
Thompson, Duane R.
PUB. DATE
February 2000
SOURCE
Journal of Financial Planning;Feb2000, Vol. 13 Issue 2, p26
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses the effect of state or federal laws on the financial planning profession in the U.S. While the rest of the marketplace has joined with financial planners in consolidating advisory services, regulators nonetheless remain locked into functional regulation of their jurisdictions. While Glass-Steagall repeal may bring fear of WalMart-sized pricing pressures on financial planners, the new marketplace dynamics may ironically move the profession forward into greater focus. Granted, the brokerage industry is increasingly putting pressure on the U.S. Securities & Exchange Commission and the U.S. Congress for the right to provide advisory services without being registered as investment advisers. And changes to the accounting profession, such as a recent New York proposal to expand the definition of the practice of accountancy to include financial planning functions, may further fragment the regulatory scheme until someone figures out they are all better off being regulated by one entity.
ACCESSION #
2835901

 

Related Articles

  • Planners and accountants wasting time on out-dated processes. O'DONOGHUE, NICHOLAS // Money Management;4/2/2015, Vol. 29 Issue 5, p11 

    The article reports on the result of a study which reveals that out-dated processes used by financial planning and accounting practices are making staff to waste time two days a week and increasing the risk of embrassing mistakes.

  • CPA Efect: Add It Up. Elson, Rachel F. // Financial Planning;Oct2014, Vol. 44 Issue 10, p16 

    The author reflects on whether financial planning firms should have certified public accountants (CPA) on the team.

  • SEC Sued On Broker Exemption. Black, Pamela // On Wall Street;Jun2005, Vol. 15 Issue 6, p20 

    The article reports on the lawsuit filed by the Financial Planning Association against the U.S. Securities & Exchange Commission over the Merrill Lynch rule. It is noted that the rule allows brokers to charge fees for financial advice without being regulated by the Investment Advisers Act of...

  • A Household Variable: The Holy Grail for the Planning Profession. Adkins, Rick // Journal of Financial Planning;Aug2014, Vol. 27 Issue 8, p26 

    The article notes that an individual's account number is the fundamental unit of the financial planning profession and considers difficulties created by the lack of a variable to identify households. One example is fund transfers between accounts within a household, which are represented on...

  • The retro referrals system returns. Matthews, Phillip // Chartered Accountants Journal;Jun2003, Vol. 82 Issue 5, p35 

    Part V. Focuses on developments concerning business relations between financial planners and the accounting profession in New Zealand. Lessons learned from previous attempts to merge financial planning and accounting businesses; Return of accountants and financial planners to business...

  • Opportunities in chaos. Harrington, Cynthia // Practical Accountant;Oct2003 Supplement, Vol. 36 Issue 10, p6 

    Focuses on the scope for accounting and tax practitioners to enter into the financial advisory arena in the U.S. Decrease in the rate of tax and accounting practitioners entering into the financial advisory services; Rationale for advisory practice by tax and accounting practitioners; Problems...

  • SMSFs: separation of advice. Bennetto, Lucille // Money Management;8/18/2005, Vol. 19 Issue 30, p24 

    Focuses on the rules governing the advice accountants and planners can give on self-managed superannuation funds (SMSF) in Australia. Degree of confusion among some practitioners in the financial planning and accountancy fields on the ability of an accountant to give advice; Explanation of how...

  • The Future of CPAs In Financial Planning. Desmarais, David M. // Accounting Today;Oct2008 CPA Wealth Provider, Vol. 22, p27 

    The author discusses the certified public accountant as a financial advisor. He explains that the accountant many times becomes the financial planner though it is not obvious to the client or the advisor. The author continues to discuss how the accountant can give financial advice through a...

  • Advisors and clients huddle for 2004 planning strategies. Harrington, Cynthia // Accounting Today;1/12/2004, Vol. 18 Issue 1, p5 

    Reports on the tax planning strategies of advisors in the U.S. for 2004. Review conducted by advisors on their client's overall plan; Potential use of dividend rate cut to lower tax liability; Need for accountants to be aware of risk management.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics