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Trading in 401(k) accounts at historic lows
More money flowed to equities than fixed income in the second quarter, according to data compiled by Alight Solutions.
PEPs are here. But how successful will they be?
The case for pooled employer plans is compelling, especially to address the fact that there are 5 million to 6 million companies in the U.S. and just 650,000 defined-contribution plans.
Active cryptocurrency SMA aims to outperform Bitcoin
Leavenworth Capital has a short but impressive track record of actively trading cryptocurrencies to double the performance of Bitcoin this year.
Advisor Group replaces top recruiting officer
Gregg Johnson, the firm's executive vice president of recruiting and revenue acquisition, has been replaced by Kristen Kimmell from RBC Wealth Management.
Biden fires head of Social Security Administration
The political infighting won't affect the $1 trillion in benefits Social Security sends each year to 65 million Americans. But it will likely make it more difficult to begin work on a solution to the program's long-term financial challenges.
Advisers committed to charitable causes recognized by Invest in Others
12 advisers named as finalists for their dedication to nonprofits aimed at helping youth, improving health, reducing homelessness and other causes.
Wells Fargo reps managing $1 billion move to Raymond James
Orlando Garcia and Miguel Viyella join the firm's employee unit in Coral Gables, Florida.
Ameriprise team managing $420 million moves to LPL
Four-adviser Pacstar Financial Group is based in Honolulu and has three other offices in Hawaii.
Have valuations for RIA firms risen too much?
Buyers are convinced they are acquiring businesses that are well-positioned to grow organically over the next several decades no matter what happens in the economy or markets.
Clients are upping charitable giving in the wake of the pandemic
Although the biggest reward of giving is psychological, the tax benefits can make doing good feel even better financially.
The power of conversations
By volunteering and sharing your passions, people get to talk to you and to know you, and when they know you, they are pleased to recommend you.
Deepening the adviser-client relationship
Introducing clients to tax-efficient ways to give, such as using a donor-advised fund, can help them do more with their gifts. But charitable intent, rather than tax benefits, should be the primary motivation for clients to give.
To recruit more women advisers, industry needs to abandon sales culture
A new report from Carson Group taps into the knowledge of 59 female financial planning executives.
Biden’s executive order could ease adviser moves, but limit mega-mergers
While the executive order is designed to promote competition in the economy, the Securities and Exchange Commission will likely need to get involved for it to have a direct impact on the advice sector.
401(k) lawsuit alleges excessive adviser compensation
The defendants did not appear to solicit competitive bids for record-keeping services and allowed funds with high revenue-sharing to compensate service providers, according to the complaint.
Principal partners with Edelman Financial Engines to offer participant advice
Employees of select large client plans can use an array of tools and speak with an adviser.
U.S. Bank to acquire PFM Asset Management
The addition of the $161 billion manager will bring the bank's assets under management to $325 billion.
Wells Fargo shuts down personal credit lines
The bank said it will no longer offer the product to customers as part of an effort to simply its offerings.
Mariner announces first acquisition since partnering with private equity
Allegiant Private Advisors adds nearly $1 billion to Mariner's assets under advisement and expands the firm's footprint in Florida.
Discrimination class action suit filed against BofA, Merrill
Two former reps say African Americans received less pay, support than others at the firm.
