SEC to keep eye on advisors ‘highly successful’ at rollovers
February 4, 2014 by Melanie Waddell
Two top broker dealer regulators explained Tuesday why qualified plan rollovers and sales to seniors will face heightened scrutiny this year.
“The goal is to see whether there is an abuse of rollovers,” Kevin Goodman, national associate director of the BD exam program for the Securites and Exchange Commission’s Office of Compliance Inspections and Examinations, told attendees at the FSI OneVoice conference.
“If you look at the numbers there are burgeoning assets” in rollovers, and there’s potential for advisors and brokers to unnecessarily steer clients into one for their own financial gain, Goodman said. Click here to read…