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Gen Xers are most likely to buy annuities: Survey
Pensions are all but nonexistent for younger workers, and many are worried about cuts to Social Security.
Team managing $1.3 billion at Wells Fargo goes indie with LPL
The six-adviser group led by Larry Boggs is forming Boggs & Co. Wealth Management in Cumberland, Maryland.
Berthel Fischer sees sharp decline in commissions, turns to building RIA
Revenues have dropped sharply, by as much as 40%, at the broker-dealer over the past seven years as the industry moved away from commissions on alternative investments to recurring revenue from managed money products.
Orion adds behavioral finance to its adviser tech
Orion rolls out the first tech tool that incorporates its merger with Brinker Capital and its acquisition of risk management software HiddenLevers. The tool helps firms understand investors' emotional reactions to market volatility.
Investors flock to municipal bonds for yield and shelter
The $53 billion in assets flowing into tax-exempt municipal bond funds so far this year have already exceeded the inflows for all of last year.
Former Morgan Stanley traders turn crypto startup into unicorn
Amber Group raised $100 million from investors in a Series B fundraising, boosting its valuation to $1 billion. Investors included DCM Ventures and Tiger Global Management.
A tireless retirement team
Retirement is a beat that’s covered extensively by InvestmentNews, and this week's edition is no exception.
How high can RIA valuations go?
From pixie dust to private equity, myriad factors have contributed to the historic M&A surge in the space — with no end in sight.
There’s no room for crypto in employee 401(k) plans
Digital assets are slowly being accepted by big financial firms, but given the critical role that 401(k)s play in building Americans’ retirement savings, the plans should be one of the last places to sign up for crypto.
Rhode Island enacts financial literacy legislation
The state’s students will receive personal finance education before graduating from high school.
ESG getting nods from institutions. Why does it lag in 403(b)s?
Much like 401(k)s, 403(b) plans have very little explicit consideration for environmental, social and governance criteria. An estimated 1% of plan assets are in ESG funds.
Insurance-focused B-D received $550,400 PPP loan last year
The sum, received by The Leaders Group Inc., appears to be in the middle range of government loans received by privately held broker-dealers who obtained Covid-19 business relief.
Climate change fight is adding to global inflation scare
Industries from glass to steel to autos are being left with little choice but to change how they make products and ultimately what they sell. The technical hurdles and investment involved mean it’s going to cost much more.
U.S. sues to block Aon’s $30 billion Willis Towers deal
The Justice Department says the deal, which would create the world's largest insurance brokerage, is anticompetitive.
Bank of America makes Juneteenth a holiday, joining JPMorgan, Wells Fargo
The banks told U.S. employees they'll receive a floating paid day off to mark the holiday commemorating the end of slavery in the U.S., which President Biden signed into law Thursday.
Team managing $1 billion at Wells Fargo goes to RBC
The four-adviser Seidler Cattich group is joining the firm in San Francisco.
Prudential Retirement’s head of sales leaving for OneAmerica
Michael Domingos, the firm's head of sales and strategic relations, has been at Prudential for 28 years and was appointed to his current role in 2019. The news comes several months after a report that Prudential was considering a sale of its retirement business.
New York IARs register with state for first time
Two deadlines are looming this summer for investment adviser representatives working in New York state related to the new regulation, which will allow potential clients to more easily review advisers' backgrounds.
Sigma Financial faces $4.5 million in investor claims
The Ann Arbor, Mich.-based independent broker-dealer, which has close to 600 reps and advisers, reported $124.3 million in total revenue in 2019.
Focus Financial borrows $800 million in push to acquire more RIAs
Citing a robust pipeline of potential deals, the aggregator raised its debt level to $2.4 billion in order to stay active in the M&A space.
