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More than half of Americans say they are in financial recovery mode
Northwestern Mutual survey finds most respondents' financial planning is focused on the short term, with only 14% actively planning more than five years out.
Pandemic led men to be more charitable, survey finds
Women are still more generous than men and became even more interested in philanthropy in 2020.
Diversity could propel the 401(k) industry into its next phase of innovation
Lack of diversity is a problem for the financial service industry, and especially the DC market, where most advisers are white males. That is also true of industry executives, most of whom went to college in the Northeast or were trained by a provider there.
Latest blow to 60/40 model is exodus of mom and pop investors
Savers are ditching the formula that's anchored retirement plans for more than half a century, after already low interest rates hit rock bottom during the pandemic.
What it takes to get more women working in financial services
Women Adviser Summit panelists say flexible work environments and instilling a sense of belonging are key.
SECURE 2.0 hearing shows fissure in retirement policy
Legislators focused on whether there was a need to improve retirement saving and sought to address whether the 401(k) system has failed Americans by disproportionately favoring affluent and white savers. Republicans also used much of their speaking time to deride the Democrat-led American Rescue Plan signed into law in March, which included bailout money for underfunded multiemployer pension plans.
Merrill team managing $842 million bolts to Raymond James
The four advisers in Salt Lake City, who operate as Williams & Townsend Wealth Management Partners, are joining the firm's employee unit.
Market outlook ‘as good as it gets’: Rockefeller CEO Greg Fleming
The current conditions for the stock market have been buoyed by strong economic growth as the Covid-19 pandemic recedes and unprecedented federal government spending, Fleming said.
Mercer Advisors acquires $240 million RIA
AFI Wealth Strategies is based in Green Bay, Wisconsin, and serves 220 clients.
Schwab rolls out digital onboarding for its RIA customers
Advisers will be able to open most accounts in minutes, the company says.
Decumulation in an evolving interest-rate environment
Current low interest rates add to the stress of establishing a retirement strategy because the 'cost' of generating retirement income from a portfolio of stocks and bonds is now higher.
Morgan Stanley to require vaccinations to enter New York offices
The firm said the goal is to help create a normal office environment, without a need for face masks and physical distancing.
M&T Bank renames its retail securities operation
The unit, now known as Wilmington Advisors @ M&T, has more than 180 financial advisers and runs on the platform of LPL Financial; it will target emerging affluent consumers.
Fiduciary backers seek ‘highest legal standard’ in Form CRS disclosures
The Institute for the Fiduciary Standard on Tuesday proposed a redesigned customer relationship disclosure, known as Form CRS, that provides a side-by-side comparison of advisers and brokers.
Father and son team build out niche financial planning for family physicians
When a medical doctor became a financial adviser, picking a niche was a no-brainer. Benold Financial Planning tends to the financial health of family doctors.
Focus Financial evolves beyond PE ownership
Private equity owner Kohlberg Kravis Roberts is cashing out after Focus shares climb 65% from the firm's 2018 IPO.
GPB lawsuits pile up against former broker
The lack of a spotlight on individual brokers who sold GPB may be passing, as at least one former adviser, Jeffrey Dixson, has a BrokerCheck profile that is studded with investor complaints involving sales of GPB private placements.
Wells Fargo team managing $800M joins Snowden Lane
Led by Tony Esses, the group based in Coral Gables, Florida, focuses on Argentinian investors.
Maine legislature passes auto IRA bill
The Maine Retirement Savings Program would allow private-sector workers to contribute to a Roth IRA from their paychecks. The bill has gone to Maine Gov. Janet Mills.
Supreme Court’s Goldman decision declared a win by investor advocates
Remanding the shareholder suit against Goldman to the appeals court leaves unresolved questions about the legal weight of conflict-of-interest pledges.
