Advisor News

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RETIREMENT PLANNING JAN 20, 2012
Buzz: Sandy Weill sells his NYC apartment for jaw-dropping sum

Central Park West penthouse listed at nearly $90M; Russian billionaire seen as buyer

By John Goff
INsider: At current rates, money fund investors will double their money — in 2,000 years
RETIREMENT PLANNING JAN 20, 2012
INsider: At current rates, money fund investors will double their money — in 2,000 years

The question: Are such puny yields worth it when money isn't FDIC-insured?

By Bloomberg
Schwab unveils 401(k) product boasting index funds
RETIREMENT PLANNING JAN 19, 2012
Schwab unveils 401(k) product boasting index funds

In a much-anticipated move, Charles Schwab late on Tuesday said it is launching a 401(k) product that features index funds. An ETF-version of the low-cost offering, dubbed Index Advantage, is due next year.

By Dan Jamieson
IRS audits of millionaires at all-time high of 12.5%
RETIREMENT PLANNING JAN 19, 2012
IRS audits of millionaires at all-time high of 12.5%

The U.S. Internal Revenue Service said it audited 12.48% of individual tax returns with income exceeding $1 million during 2011, an all-time high.

By Doug Cubberley
REGULATION, LEGAL & COMPLIANCE JAN 19, 2012
Ex-UBS client indicted for hiding accounts from IRS

A former UBS AG client was indicted by a federal grand jury on a charge that he defrauded the U.S. by hiding assets from the U.S. Internal Revenue Service.

By Doug Cubberley
REGULATION, LEGAL & COMPLIANCE JAN 19, 2012
Frank's final act - stop GOP efforts to raze huge finance bill

By Mark Schoeff Jr.
Frank elects to retire from Congress in 2013
REGULATION, LEGAL & COMPLIANCE JAN 19, 2012
Frank elects to retire from Congress in 2013

Rep. Barney Frank, the leading proponent of universal fiduciary duty for retail investment advice, announced today that he will retire from Congress in 2013.

By Mark Schoeff Jr.
Students' council: Go to college now, pay for it later
RETIREMENT PLANNING JAN 18, 2012
Students' council: Go to college now, pay for it later

University of California undergrads propose 20-year tuition plan; five percent solution?

By Bloomberg
California Dems eye college fees that are up 145% since 2004
RETIREMENT PLANNING JAN 18, 2012
California Dems eye college fees that are up 145% since 2004

Look to end tax loophole for businesses, use proceeds to provide more financial aid to students

By John Goff
Student loans the 'next debt bomb' for U.S., attorneys warn
RETIREMENT PLANNING JAN 18, 2012
Student loans the 'next debt bomb' for U.S., attorneys warn

Courts reluctant to discharge loans, often forcing graduates to pay off enormous sums; parents increasingly on the hook, too

By Bloomberg
Ivy League school rolls out largest tuition hike in six years
RETIREMENT PLANNING JAN 18, 2012
Ivy League school rolls out largest tuition hike in six years

CPI up 3 percent, but Princeton raises prices by nearly 5 percent

By John Goff
REGULATION, LEGAL & COMPLIANCE JAN 18, 2012
Pastor's $1.6M Ponzi could mean 30-year prison stay

A Seattle-area pastor has pleaded guilty to charges of wire fraud and money laundering related to a $1.6 million Ponzi scheme he ran for eight years.

By IN Staff
REGULATION, LEGAL & COMPLIANCE JAN 18, 2012
A call for responsible social-media usage

By MFXFeeder
Mind your social-media compliance programs: SEC
FINTECH JAN 18, 2012
Mind your social-media compliance programs: SEC

Finra has warned investment advisers to examine the effectiveness of their social-media compliance programs based on findings from recent SEC adviser examinations.

By Dan Jamieson
Tweet away: Finra backs off social-media posting regs
FINTECH JAN 18, 2012
Tweet away: Finra backs off social-media posting regs

The Financial Industry Regulatory Authority Inc. has backed away from a proposal that would have required broker-dealers to file social-media postings with the regulator.

By Dan Jamieson
BNY Mellon sued for negligence over Madoff
REGULATION, LEGAL & COMPLIANCE JAN 18, 2012
BNY Mellon sued for negligence over Madoff

Bank of New York Mellon Corp. was sued on behalf of three funds for negligence in connection with the Ponzi scheme run by convicted fraudster Bernard L. Madoff.

By Doug Cubberley
Gingrich's gift to highest earners
RETIREMENT PLANNING JAN 18, 2012
Gingrich's gift to highest earners

Analysis of Newt Gingrich's tax plan would cut taxes for 70% of households and reduce rates for the highest earners compared with what they pay now.

By Doug Cubberley
The truth about $300B worth of 'Manila' paper
RETIREMENT PLANNING JAN 17, 2012
The truth about $300B worth of 'Manila' paper

Bearer bonds from alleged Philippines plane crash are little more than wallpaper

By Doug Cubberley
WIREHOUSES JAN 17, 2012
Merrill Lynch raises the bar for small brokers

The latest compensation changes being made by Merrill Lynch Wealth Management to encourage brokers to go after wealthier clients could hurt broker trainees, small-market financial advisers and low-end producers.

By Andrew Osterland
REGULATION, LEGAL & COMPLIANCE JAN 17, 2012
B-D wants Supreme Court to rule on Finra suit

Can a brokerage firm sue Finra? That's a question one broker-dealer is asking the Supreme Court to consider.

By Dan Jamieson