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Franklin Templeton settles 401(k) lawsuit for $14 million
NEWS RETIREMENT PLANNING FEB 20, 2019
Franklin Templeton settles 401(k) lawsuit for $14 million

Franklin Templeton settlement is among the largest in recent self-dealing cases.

By Greg Iacurci
NEWS INDUSTRY NEWS FEB 20, 2019
Innovation Awards Educational Materials

By Ellie Zhu
Australian firm to join Focus Financial Partners
NEWS INDUSTRY NEWS FEB 19, 2019
Australian firm to join Focus Financial Partners

Roll-up's latest addition has $640 million in assets

By Bloomberg
Insurance groups tell NAIC to put 'best interest' back into annuity suitability rule draft
NEWS LIFE INSURANCE AND ANNUITIES FEB 19, 2019
Insurance groups tell NAIC to put 'best interest' back into annuity suitability rule draft

Investor advocate calls insurance proposal weaker than existing broker suitability standard

By Mark Schoeff Jr.
Dynasty Financial Partners moving headquarters to St. Pete, Fla.
NEWS RIAS FEB 19, 2019
Dynasty Financial Partners moving headquarters to St. Pete, Fla.

The firm will maintain offices in New York, Chicago and San Francisco.

By InvestmentNews
Mercer Advisors acquires $350 million Arbor Asset Management
NEWS RIAS FEB 19, 2019
Mercer Advisors acquires $350 million Arbor Asset Management

RIA firm, founded in 1996, is based in Ann Arbor, Mich.

By InvestmentNews
NAPFA launches campaign to distinguish fiduciary from 'best interest'
NEWS REGULATION AND LEGISLATION FEB 19, 2019
NAPFA launches campaign to distinguish fiduciary from 'best interest'

CEO Geoffrey Brown: 'The SEC's proposal is misleading and confusing for consumers.'

By Mark Schoeff Jr.
Ascensus sells 25 percent stake to private equity firm
NEWS RETIREMENT PLANNING FEB 19, 2019
Ascensus sells 25 percent stake to private equity firm

Private equity has a growing appetite for the retirement plan market.

By Greg Iacurci
Massachusetts fines United Planners $100,000 in real estate scam case
NEWS INDUSTRY NEWS FEB 19, 2019
Massachusetts fines United Planners $100,000 in real estate scam case

Regulator also fines broker Thomas T. Riquier $50,000 and bars him.

By InvestmentNews
Advisory fees push commissions further into the background
NEWS RIAS FEB 19, 2019
Advisory fees push commissions further into the background

Fee-based advice is not perfect, but most clients prefer it over a commission-based option

By Jeff Benjamin
Robert Moore, Cetera CEO, stepping down for health reasons
NEWS BROKER DEALERS FEB 19, 2019
Robert Moore, Cetera CEO, stepping down for health reasons

Chairman Ben Brigeman will serve as interim chief executive while a search for a permanent CEO is conducted.

By Bruce Kelly
10 millennials making their mark in Washington — and beyond
NEWS REGULATION AND LEGISLATION FEB 16, 2019
10 millennials making their mark in Washington — and beyond

These next-generation leaders are raising their voices and gaining influence over financial advice regulation and legislation.

By Mark Schoeff Jr.
Advisers defend active investment management on Capitol Hill
NEWS RETIREMENT PLANNING FEB 15, 2019
Advisers defend active investment management on Capitol Hill

Investment Adviser Association works to preempt bias toward passive funds in retirement legislation.

By Mark Schoeff Jr.
Allianz says investors pulled $35 billion in Q4
NEWS MUTUAL FUNDS FEB 15, 2019
Allianz says investors pulled $35 billion in Q4

Bulk of the outflow occurred at Allianz unit Pimco.

By Bloomberg
Record $5.2 billion given through Fidelity Charitable in 2018
NEWS INDUSTRY NEWS FEB 15, 2019
Record $5.2 billion given through Fidelity Charitable in 2018

Donor giving was up $700 million from 2017 despite tax uncertainty.

By InvestmentNews
Investing legend Jeff Vinik gets a lukewarm reception
NEWS RIAS FEB 15, 2019
Investing legend Jeff Vinik gets a lukewarm reception

His struggle to attract assets shows how low fees and passive investing have brought star managers back down to earth.

By Jeff Benjamin
Cetera, other broker-dealers refuse to sign Ohio National contracts
NEWS LIFE INSURANCE AND ANNUITIES FEB 15, 2019
Cetera, other broker-dealers refuse to sign Ohio National contracts

Advisers wonder what the lack of a formal brokerage agreement means from a regulatory standpoint.

By Greg Iacurci
Warburg Pincus among private equity managers interested in acquiring Kestra Financial
NEWS ALTERNATIVES FEB 15, 2019
Warburg Pincus among private equity managers interested in acquiring Kestra Financial

Sources say Kestra is being valued at between $600 million and $800 million, about eight to 10 times EBITDA.

By Bruce Kelly
It's not a stock … it's not a bond
NEWS LIFE INSURANCE AND ANNUITIES FEB 15, 2019
It's not a stock … it's not a bond

Fixed indexed annuities are an insured asset class unto themselves.

By Mark Fitzgerald
Veteran adviser locks down a succession plan that lets him stay involved
NEWS RIAS FEB 15, 2019
Veteran adviser locks down a succession plan that lets him stay involved

Leon LaBrecque's deliberate venture into succession planning landed him and his 1,400 clients in a good place.

By Jeff Benjamin