Although the brokerage industry is shrinking, it's still doing well financially. Aggregate revenue for Finra-registered firms totaled $362 billion in 2020, down from $388 billion in 2019 but higher than every other year since 2016.
Despite often having unwieldy investment menus, government DC plans are concentrated in large-cap U.S. equity and stable value, according to a recent report from the Public Retirement Research Lab.
The key is knowing how to select software that solves your problems while simultaneously improving both the functionality and the profitability of your firm.
The measure proposed by Sens. Warren and Daines addresses the $8.5 billion sitting in lost retirement plan accounts.
The financial assistance appears to be on the higher end of PPP loans received by privately held broker-dealers who obtained Covid-19 business relief. Other B-Ds have reported taking larger PPP loans.
The Wealth Advisory Institute will include content from more than a dozen other major asset managers.
Craig Zaleck and Mark Hogan, who are based in Bayonne, New Jersey, will affiliate through super OSJ INC Advisors.
Los Angeles-based Lido Advisors plans to expand across the country organically and via acquisitions.
With a fresh take on adviser training, Merrill Lynch expects to increase diversity while graduating 1,000 new advisers per year. These advisers will be located in-office and report to their local market executives.
If price pressures are picking up, cash and fixed income will suffer, and stocks could offer investors the best return.
In keeping with the times, it appears that the practice of cold-calling is out and using social and business networking platforms like LinkedIn is in.
New research argues that stock photos on websites present a stale and static image. Clients want to see the real person behind the advice.
The firm is reducing fees and is adding a mutual fund version of its Retirement Blend series, which has existed since 2018 in CIT form.
The bipartisan bill aims to help the 52% of employees in the state who don't have access to a retirement plan at work.
Only 36% of Americans were able to identify a 529 as an education savings tool, and only 20% of parents say they have used a 529 account or are planning to use one.
SEC bars Emil Botvinnik, a former registered rep with Windsor Street Capital, as part of final judgment that includes $1.14 million disgorgement.
Bipartisan legislation proposed by Sens. Cardin and Portman aims to help boost savings.
A class-action lawsuit alleges that the company breached its fiduciary duties in connection with a change in the investment menu. Most of the assets in the $1.4 billion plan went into Russell Investment target-date funds, according to the complaint.
The median level of debt for people over age 50 has tripled over the past 30 years, according to a recent analysis by the Government Accountability Office.
The four-adviser group is moving to the firm’s employee unit in Augusta, Georgia and will operate as the Cypress Wealth Group.
