Displaying 28196 results
Crown Capital settles with SEC over 12b-1 fees
The SEC launched its Share Class Selection Disclosure Initiative in February 2018 to target advisory firms that recommended high-fee mutual funds.
Seldom-used 401(k) brokerage windows being reviewed by DOL
The DOL could issue guidance “to ensure that plan participants and beneficiaries with access to a brokerage window are adequately informed and protected under ERISA."
LPL enhances model portfolio tool
The new feature on the IBD's platform lets advisers use a variety of models within a client's portfolio,
Energy, financials, real estate sectors riding inflation wave
Investors are betting that fiscal and monetary policies will continue to fuel inflationary pressures.
Securities America fined $1.75 million for rogue broker breakdown
The SEC alleges the firm failed to safeguard clients from Hector May, who pleaded guilty to stealing $8 million from clients and was sentenced to 13 years in prison.
$300 million Waddell & Reed team joins Raymond James
Eight Kansas reps will affiliate with the independent unit of Raymond James through Beyond Wealth Advisors.
Assets in 529 plans now more concentrated among several firms
The 529 market can be more difficult to break into than the 401(k) world, which has an abundance of small plans that can be eager to hire fintech providers. States hiring 529 managers aren't likely to consider firms that don’t have track records.
Federal government’s retirement plan to add ESG funds
Starting in 2022, the Thrift Savings Plan will offer a new mutual fund window that will include ESG funds.
Cetera fined $125,000 over privacy issues
Finra also censured the firm in connection with privacy breaches that occurred during transfers of new clients.
How the 401(k) world will adapt as it wakes up after long pandemic
There will be vast differences, but the fundamentals of the business will be the same, as will the importance of strong relationships and brands.
Covid raises awareness, concerns about Social Security
71% of American adults worry that the program will run out of money during their lifetime and 19% say the pandemic has affected their plans to file for Social Security benefits, according to a Nationwide survey.
Three more states adopt annuity suitability rules
Virginia, Maine and Alabama recently adopted rules tracking the model ‘best interest’ measure approved in 2020 by the National Association of Insurance Commissioners.
Newcomer Benetic promises 401(k) quotes for advisers in minutes
So far, about 100 advisers, including those from 11 of the 15 biggest aggregator firms, have used the service, which recently began including quotes for pooled employer plans.
J.P. Morgan acquisition of OpenInvest gives wealth managers another ESG tool
The bank is expected to pair OpenInvest with 55ip to enhance its private banking technology platform.
7 ways crises changed our understanding of fiduciary
During a crisis, the critical fiduciary success factor is connecting with the client's heart.
Principal to halt sales of retail fixed annuities, consumer life insurance
The insurer will also pursue sales of blocks of those assets that are already in force. It said that it will continue selling variable annuities.
Biden wants to dismantle two tax strategies used by richest 0.1%
Technical provisions in the administration's tax proposals could disrupt dynasty trusts and intentionally defective grantor trusts, two ways that super wealthy people have legally avoided taxes for decades.
Britney Spears’ fight for financial freedom holds lessons for advisers
The controversy over the pop star's right to control her wealth and health has sparked the #FreeBritney movement, created by her fanbase to raise awareness of the fight to release Spears from a 13-year conservatorship.
Potential in PEPs helps Smart secure $228 million in new funding
It’s unclear how much business PEPs have attracted in the first seven months they’ve been in existence, but some plan providers are banking on more demand on the 403(b) side, which could become eligible for the plan structure if Congress passes legislation.
Liz Windisch targets the financial needs of Gen X women
Seeing an opportunity to cater to an often-overlooked segment of potential clients, one adviser has made Generation X women her true calling.
