Louis Diamond Quoted – By Mark Schoeff Jr., InvestmentNewst – An executive order President Biden signed Friday afternoon could make it easier for financial advisers to switch firms and harder for financial institutions to merge.
The executive order is designed to promote competition in the economy and encompasses 72 initiatives across a dozen federal agencies, according to a White House fact sheet.
Louis Diamond Quoted – By Lynnley Browning, FinancialPlaning – The acquisition frenzy for independent advisory firms may be about to get even hotter. That’s the thinking of some industry dealmakers, who predict that President Biden’s proposal for tax increases on the wealthy will pour fuel onto the already-hot market of deals to acquire RIAs.
Louis Diamond Quoted – By Gary Stern, RIA Intel – A new White House administration might make it easier for financial advisors to switch employers. President-elect Joe Biden has signaled in the past that his administration would go after noncompete and no-poach clauses that are ubiquitous in financial advisory contracts.
