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DOL arms investors with rollover questions that could catch some advisers off guard
The timing of those questions, such as 'are you a fiduciary?' is not great for advisers relying on the DOL’s temporary enforcement policy until Dec. 20, the compliance deadline for the new rules, one lawyer said.
Investor advocate urges Gensler to beef up Reg BI
Republican lawmakers in the House tell the new SEC chairman to avoid ‘mission creep’ in the agency's oversight of environmental, social and governance disclosures.
RIA consolidation returns to pre-Covid levels
The surge in activity following the pandemic-induced lull is winding down as M&A returns to normal, according to DeVoe & Co.
Beacon Pointe acquires $230 million Texas RIA
D.R. Saur Financial will be integrated into Beacon Pointe’s Plano, Texas, office.
Sequoia Financial to acquire $1.4 billion Wealthstone Advisors
The deal, which is expected to close this summer, pushes Akron, Ohio-based Sequoia's assets under management over the $7 billion mark.
Banks hone in on wealthy clients
Citigroup plans to 'double down on wealth,' while Merrill's account balances surged 31%.
Many affluent retirees reluctant to draw down savings
Some leading retirement experts are questioning whether advisers should rethink their assumptions about retirement spending when creating financial plans.
Shared emergency accounts could hint at higher savings
The results of a recent experiment show people saved more, spent less and felt more secure financially while saving as a group, according to the nonprofit Commonwealth.
Fight over board that controls Avantax coming to a head
A struggle for seats on the board of Blucora Inc., which owns the independent broker-dealer Avantax Investment Services Inc., is heading for a showdown. Blucora has purchased two broker-dealers in half-a-dozen years to expand into the wealth management business.
Duo managing $1.35 billion at Merrill Lynch moves to Janney
Andrew Meredith and Kevin Lindung are based in Towson, Maryland.
OSJ managing $550 million switches to LPL from Royal Alliance
Walnut Beech Advisors maintains offices in Michigan and New York
Providing the building blocks of financial literacy training
The pandemic has reminded us that too many Americans are being left behind economically, and the stats for financial education demonstrate that is happening in the classroom too.
The latest in financial #AdviserTech — April 2021
The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers!
What sparked today’s love of ESG?
Even for the earliest proponents of sustainability, the sudden spike in ESG investing popularity is surprising, but satisfying.
Michigan duo managing $350 million at Merrill joins Rockefeller
Low Group, a four-person team, is based in Bloomfield Hills, Michigan.
Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. 'My target is $10 trillion of money under management,' said CEO James Gorman. 'I've told the team internally, they hate that.'
SEC partially settles fraud charges against co-founder of RIA
Martin Silver of International Investment Group in Long Branch, N.J., will pay penalties to be determined.
Facet Wealth subscription model poses threat to asset-based fees
The latest challenge to advisory fee models based on client assets is carving out a niche between robos and traditional financial planning.
David Booth of DFA is taking a value victory lap
The co-founder of the quant giant is in fighting spirits after the strategy of buying cheap equities notched its best quarterly outperformance in 20 years.
Robinhood sues to overturn Massachusetts fiduciary rule
Meanwhile, Massachusetts amended its December complaint against the online brokerage seeking to revoke its registration in the state.
