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MassMutual reps managing $400 million switch to LPL
Alicia Curtis and Jyl Barnard of Curtis Barnard Financial Services and Chris Dearing of Riverfront Financial share an office in Peoria, Illinois.
JPMorgan Chase to buy UK robo-adviser Nutmeg
The acquisition, subject to regulatory approvals, is meant to complement the launch of Chase as a digital bank in the UK later this year. Nutmeg manages more than $4.9 billion in assets.
Fed sees two rate hikes by end of 2023
Federal Reserve officials signaled that the pace of the U.S. economic recovery is bringing forward their expectations on how quickly they will reduce policy support.
DC industry must cooperate to resolve forgotten-accounts problem
Anyone who has tried to roll assets out of a DC plan knows how difficult and time-consuming it can be.
Ever hear of a ‘lay fiduciary’? There are 17.5 million of them
Group says nonprofessional plan fiduciaries who oversee assets in pension plans, foundations, endowments and trusts often don’t understand their responsibilities
Crown Capital prepares for $1.38 million SEC penalty
The broker-dealer is potentially facing a penalty from the Securities and Exchange Commission due to sales of high-fee mutual funds. The regulator launched its Share Class Selection Disclosure Initiative in February 2018.
The flip side to auto 401(k) design: Forgotten accounts
An academic study posted this month on the Social Science Research Network found that about $790 million in IRA assets were in limbo in 2017, with account owners 72½ and older failing to take RMDs.
Hightower lands conditional approval for national trust charter
Establishing a national trust charter has been a priority since CEO Bob Oros took over in January 2019. The new Hightower Trust Company is expected to be open for business later this year.
Women dissatisfied with retirement industry’s work-life balance
The survey also finds sense among women that their compensation has not kept pace with their experience and responsibilities.
Goldman Sachs enters custody business with Steward Partners as first client
Steward will use Goldman for assets held at Umpqua Investments, which it acquired recently.
Beware the sleight of hand in ProPublica’s pitch to tax the wealthy
A sensational report arguing that the wealthy don't pay their fair share of income taxes starts to crumble when percentages are replaced with real money.
Advising widows: Tips to serve clients at a sensitive time
Seventy percent of women leave their financial adviser within a year of widowhood. Here’s how advisers can improve service during this challenging life stage.
Crypto fund manager completes $70M Series B funding
Bitwise Asset Management draws backing from Henry Kravis, Stanley Druckenmiller, Daniel Loeb and other big names.
Bipartisan majority likes ‘Retirecare,’ survey finds
Enrolling working Americans in a government-sponsored retirement plan is a broadly popular idea.
Billion-dollar UBS team in Chicago suburbs goes indie
The six-adviser team, Puzzle Wealth Solutions, is affiliating with LPL Financial through OSJ Gladstone Wealth Partners.
Is your 401(k) ESG? There’s a certificate for that
Dalbar rates 401(k)s with up to five stars and tells plan sponsors what they can do to improve their plans on the basis of environmental, social and governance criteria.
Merrill Lynch, Morgan Stanley top execs say recruiting changes worked
Driving the recruiting overhaul at wirehouses over the past few years has been the tremendous expense of recruiting experienced financial advisers.
From Marines to Wall Street, this veteran defied the odds
Mercedes Elias, the new co-CEO of AmeriVet Securities, approached her career on Wall Street much like her decade-long ascent through the Marine Corps.
Carson Group partners with insurance marketing firm
The deal with Financial Independence Group gives all of Carson’s advisers access to the same list of company-vetted products, including annuities, life insurance, long-term care insurance and disability insurance.
DOL seeks to define ‘fiduciary’; SEC works on ESG disclosures
As the two agencies release their regulatory agendas, the SEC is also proposing to revisit rules promulgated last year when the agency was headed by former chairman Jay Clayton.
