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Rise of ‘middle office’ providers for RIAs
One option for advisers starting an RIA is to outsource in one fell swoop such responsibilities as custodial relationships, tech stack design and integration, client billion, tamp solutions and marketing expertise.
Private banker carves out his niche with clients that hold illiquid assets
Boston Family Advisors has a narrow focus on wealthy families that have most of their assets invested in private equity and venture capital.
Koch, Voya settle 401(k) fee lawsuits
Koch will pay $4 million in a case alleging excessive record-keeping fees, and Voya reached a confidential agreement in a separate lawsuit. Yum Brands was also sued by a participant who claims he was wrongly classified as an independent contractor and denied retirement benefits.
‘Salary plus bonus’ will arrive at the wirehouses
The switch in the compensation model will arrive silently, via death from a thousand cuts.
Wells Fargo says return to office will look ‘mostly’ like pre-Covid
The bank, with almost 260,000 employees, will start calling workers back to the office on Sept. 7, a process that will continue through October, according to an internal memo.
Rescuing baby boomers’ retirements
Given their limited savings, current low interest rates and the ongoing rise in prices and out-of-pocket health care costs, most boomers need a financial lifeline.
Record 101 RIA transactions took place in first half
Aging owners and a lack of succession planning are driving the M&A activity, DeVoe says.
Vanguard could propel values-based direct indexing from niche to essential
Direct indexing has become a powerful tool for advisers, while combining growing investor interest around value-based investing and advancements in technology.
As inflation gets real, advisers ponder strategies
While the Fed continues to call inflation transitory and temporary, financial advisers are bracing for the reality of higher prices and lower yields.
Big brokerages gearing up for return to the office
For firms like Morgan Stanley and Raymond James, welcoming employees back to the office, after more than a year of remote work, will require flexibility and an open mind.
Allworth acquires $315 million RIA
Los Gatos, California-based Giordano Wealth Management was founded by Chris Giordano, who was previously affiliated with LPL Financial.
The outlook for the independent broker-dealer model
For the increasingly fee-based advisers at independent broker-dealers, the transition to the RIA model is likely to pick up speed in the years to come.
All’s quiet on the Reg BI front
The SEC has been intense about ESG and wait-and-see on Reg BI. But new Enforcement Director Gurbir Grewal supported New Jersey's fiduciary rule and may put teeth in the broker advice standard.
Long-term care settlement to cost CalPERS as much as $2.7B
Policyholders saw an 85% bump in their premiums in 2015, despite assurances when they signed up that rates would not increase.
Wells Fargo Advisors head count sinks 9.8% annually
Wells Fargo & Co. is revamping its wealth management franchise and such changes often lead to a reduction of the number of financial advisers at large enterprises.
Merrill Lynch adviser head count drops as self-directed investing soars
Merrill Lynch reported a 6% dip in adviser head count and said that 80,000 clients are now using its self-directed investing platform.
The new active approach to credit investing
Enhancing the return prospects of individual investors seeking yield calls for hands-on, agile, active management — and the more flexible the approach, the better.
Carson Group valued at $1 billion in latest deal
Bain Capital took a minority stake in Carson, one of the largest registered investment advisers in the country with more than $17 billion in assets.
Fidelity Charitable reports record $4.3B in giving in first half
Grants increased by 27% in dollar terms from the same period last year, with more than 123,000 charities benefiting from the donations.
NAPA launches ESG certificate program
The training is designed to help retirement plan advisers evaluate environmental, social and governance investing opportunities.
