But when their knowledge had been tested, their reported fees were lower, Finra says.
Only exceptionally high earners are poised to fund all their retirement needs, says a Vanguard study.
Broker-dealers are fleeing the model as well, underscoring the regulation's failure, says Michael Kitces.
The renewed focus comes as the agency increases scrutiny of high-income individuals.
The fees may seem cheap, but they can gradually eat away an investment account, the SEC said.
Advisors say it's crucial to plan now for tax law changes that may not happen for several years.
One consultant said he has seen advisors charge clients advisory fees that are higher than what they earn in these idle accounts.
The economy's growth might slow, but it remains resilient.
The timing of purchases and sales has caused investors to miss out on potential gains.
Anyone earning over $400,000 would pay new taxes under legislation introduced in the Senate.
The sponsors of these vehicles say they have defied trends as inflation has hit donations.
Advisors say there are circumstances where wealthy clients may want to take their benefits early.
For the 41% of parents who have adult children living with them, the financial hit is real.
The agency said examiners will ensure the new marketing rule requirements are followed.
Wealthy individuals need to take advantage of the savings potential offered by HSAs, advisors say.
Advisors say those who earn more than $400,000 per year may need to think carefully about their tax strategies.
A majority of prospective buyers said high prices and interest rates remain a challenge when purchasing a home.
The agency said the robo's errors caused clients to lose $4 million in potential tax savings.
Advisors say the ruling could interrupt tactics favored by many tax planners.
Clients who make a mistake on these designations stand a good chance of being audited, advisors say.