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Finra fines small New York broker-dealer for Reg BI failures
Finra's action against Long Island Financial Group is yet another indication of its dissatisfaction with the industry's implementation of Reg BI.
Fund companies, in no-win situation, test shareholder proxy voting
BlackRock, Schwab, Vanguard and State Street could be inviting a political backlash with proxy voting campaigns aimed at avoiding a political backlash.
Fidelity readies ESG target-date series
The firm would be one of several companies providing sustainable target-date funds in the US.
Cetera CEO Antoniades enthusiastic about Securian pickup
But the deal raises the possibility other firms may go after the Securian advisors; Cetera and LPL have faced off in the past over recruiting advisors amid an acquisition.
Alan Moore stepping down as CEO of AdvicePay to become full-time CEO of XY Planning
The 35-year-old co-founder of AdvicePay and XY Planning said he got the AdvicePay board's blessing late last year to make the transition.
Putnam launches sustainable target-date series for retirement savers
The target-date funds will invest in actively managed sustainable and ESG-focused exchange-traded funds managed by Putnam.
Fears that a comfortable retirement may be unattainable continue to grow
Prior to the expansion of state pension systems in the 20th century, it was only the rich who could reasonably expect comfortable leisure time at the end of their lives.
Hundreds of pages of regulations amount to nothing until they’re enforced
We don't know how Reg BI or the CFP credential's fiduciary standard work in practice because there has been no substantial punishment for violating them.
Northern Trust Asset Management fills president vacancy with BlackRock veteran
Daniel Gamba starts work as president of the $1.2 trillion asset manager on April 3.
IBDs used to keep their hands off clients. Not anymore
Giant financial services companies are starting 2023 with more moves to control and own the assets of financial advisors, rather than servicing them for a modest fee.
Most successful financial services football stadiums
See how the 11 NFL stadiums sponsored by financial services companies stack up in terms of their team’s postseason success.
Super Bowl special: How to leave NFL tickets to heirs without getting sacked
Passing down season tickets from generation to generation can get hairy. It’s often worthwhile to bring in an estate planner or attorney to make sure it’s a clean handoff.
Wealth Enhancement Group adds RIA managing $273 million
Falls Church, Virginia-based Washington Wealth Advisors is led by Maura Schauss and Todd Youngdahl.
GOP seeks to open private markets; Democrats might be willing to talk
A House subcommittee considers GOP measures that would amend accredited-investor rules. The ranking Democrat said 'fiduciary' advisors could help retail investors become sophisticated vicariously.
Centaurus hit with $1.1 million penalty over structured product sales
The SEC said brokers in the firm's Lexington, South Carolina, branch office recommended variable interest rate structured products to dozens of retail customers for whom they weren't suitable.
Invesco’s Schlossberg to succeed Flanagan as president, CEO
Marty Flanagan is retiring at the end of June, while Andrew Schlossberg currently serves as the fund company’s head of Americas.
BNY Mellon files for Women’s Empowerment ETF
The fund aims to invest in companies that help improve the quality of life for women.
Hightower unit TC Wealth acquires $800 million firm
Both TC Wealth Partners and the firm it purchased, EFG Advisors, are based in the suburbs of Chicago.
Labor Secretary Marty Walsh expected to step down to take job as head of NHL players union
When Walsh will officially step down has not yet been announced but Deputy Secretary Julie Su is expected to become acting head of the agency.
Rising rates, falling revenue will dramatically change RIA M&A activity in 2023
Look for independent broker-dealers flush with interest-rate revenue to emerge as credible threats to the mergers-and-acquisitions status quo.
