Industry News

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NEWS PRACTICE MANAGEMENT JUL 14, 2017
Wells Fargo sustains more adviser losses following banking scandal

One hundred and thirty advisers left in the second quarter, marking the firm's third consecutive quarter of reductions.

By Greg Iacurci
NEWS INDUSTRY NEWS JUL 13, 2017
Broker-dealer managing $1.1 billion joins Signator OSJ

Royal Securities Co. in Grandville, Michigan, affiliates with VantagePointe Financial.

By InvestmentNews
NEWS RETIREMENT PLANNING JUL 13, 2017
Men vs. women: Who gets the most out of marriage?

Research finds a woman and a man can have significantly different views of the same marriage.

By Bloomberg
NEWS INDUSTRY NEWS JUL 13, 2017
Protecting your kids from identity theft

Once they have a child's Social Security number, hackers can apply for government benefits, open bank and credit card accounts, apply for a loan or rent a place to live.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 13, 2017
Why Americans can't seem to retire

The share of older people in the workforce is higher than at any point since before the creation of Medicare.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 13, 2017
Appointing and monitoring a 401(k) investment manager under ERISA

A recent district court decision has implications for how retirement plan sponsors should monitor their adviser.

By Marcia S. Wagner
NEWS INDUSTRY NEWS JUL 13, 2017
Vanguard CEO McNabb to step down

Tim Buckley, firm's current chief investment officer, will become president immediately and take the chief executive role Jan. 1.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 13, 2017
Social Security reserves still expected to be depleted by 2034: annual report

Depletion of Disability (DI) trust fund pushed back five years due to a temporary increase of its share of the payroll tax.

By Mary Beth Franklin
NEWS LIFE INSURANCE AND ANNUITIES JUL 13, 2017
Manulife weighs a John Hancock IPO or spin-off

Persistently low interest rates have hammered insurance company profitability.

By InvestmentNews
NEWS REGULATION AND LEGISLATION JUL 13, 2017
Democrats diss draft legislation to scrap DOL fiduciary rule, set best-interest advice standard for brokers

Bill's sponsor, Republican Rep. Ann Wagner, still hopes to get bipartisan support.

By Mark Schoeff Jr.
NEWS RETIREMENT PLANNING JUL 13, 2017
LPL to roll out new mutual fund platform as DOL fiduciary rule takes effect

Broker-dealer hasn't yet determined whether the platform will be mandatory when it launches next year, given the fluid regulatory environment.

By Greg Iacurci
NEWS RIAS JUL 13, 2017
In states slow to recover economically, advisers sometimes have to be the bearers of bad news

Recommendations include staying in jobs longer, moving to less expensive houses and even relocating out of state.

By Liz Skinner
NEWS RIAS JUL 12, 2017
Former broker gets 30 months for defrauding investors

Stephen Eubanks of Hingham, Mass., claimed to be an RIA running a hedge fund.

By InvestmentNews
NEWS RIAS JUL 12, 2017
Mercer Advisors acquires $160 million RIA

Wealth Design Services in Rochester, New York, also provides tax services.

By InvestmentNews
NEWS MUTUAL FUNDS JUL 12, 2017
Asset management revenue, profits down in 2016 for first time since 2008

Investors are increasingly shifting their money to passively managed strategies.

By Bloomberg
NEWS INDUSTRY NEWS JUL 12, 2017
Merrill Lynch brokers managing $1 billion move to UBS

Cincinnati sister-brother team and duo in Michigan shift firms.

By InvestmentNews
NEWS RIAS JUL 12, 2017
New aggregator takes stake in three RIAs managing $11 billion

Wealth Partners Capital buys into Forbes Family Trust, MAI Capital and EP Wealth Advisors.

By InvestmentNews
NEWS REGULATION AND LEGISLATION JUL 12, 2017
SEC's Jay Clayton makes fiduciary duty a priority, acknowledges issue is 'complex'

In his first major speech as agency chairman, he says a guiding principle is 'long-term interests of Mr. and Ms. 401(k).'

By Mark Schoeff Jr.
NEWS REGULATION AND LEGISLATION JUL 11, 2017
Rep. Wagner drafts bill to kill DOL fiduciary rule, replace it with best-interest standard

Legislation would require brokers to 'avoid, disclose or otherwise reasonably manage' conflicts of interest.

By Mark Schoeff Jr.
NEWS RIAS JUL 11, 2017
Merrill Lynch loses $1 billion Beverly Hills team

Matthew Calenza forms Boulevard Family Wealth RIA.

By InvestmentNews