Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.
Those who oversee the markets are not built to react quickly to disruptions within them. Theirs is a world of study and deliberation. They have to listen to a wide range of public input. and they often leave much regulatory ambiguity in place.
CFP holders helped 7,839 underserved individuals last year, the Financial Planning Association says.
While the Labor Department has ended its support for the suit seeking to invalidate California's auto-IRA, the analysis in its amicus brief is still part of the record before the court.
The company is among a slim minority of defined-contribution plan sponsors. According to Vanguard’s 2020 How America Saves report, only 4% of its record-keeping clients did not make contributions of any kind to the company retirement plans.
It's the second round of announced layoffs after last year's mega merger. In October, Schwab said it was laying off 1,000 employees, or about 3% of the combined workforce.
The group of five advisers, which was with J.P. Morgan for nine years, will join UBS' Century City office in Los Angeles.
Mission Financial Group in Hawaii will retain its B-D affiliations through First Allied.
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
The traditional mix of 60% equities and 40% bonds has come under threat of late as losses in the stock market are sometimes met with little more than a shrug in U.S. Treasuries, rather than a rally that protects the entire portfolio.
A host of discount brokerages, including Robinhood, Charles Schwab and ETrade, are now facing accusations of market manipulation. The challenges are expected to face tall legal hurdles.
Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.
A year of remote work appeared to accelerate the trend of advisers going independent for more control over their business, and in many cases, opportunities for higher take-home pay. Independent broker-dealers also saw a year of positive gains, though on net the channel was down from 2019.
Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.
Nearly three-quarters of women with investible assets of $100,000 or more say the pandemic has negatively impacted their ability to retire, but as that is happening, more women are turning to financial professionals for advice, according to a Nationwide survey.
Survey finds most institutional investors look for sustainable investing and diversity criteria when hiring equity managers.
Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.
UBS, Banco BTG Pactual, Insigneo and Andbank are among those seeking to hire from the roughly 330 advisers who were part of Wells' international wealth unit.
The fifth annual InvestmentNews Icons & Innovators shows the depths of the innovative spirit thriving in the financial advice business today. We highlight one Icon, 10 Innovators and 13 Innovation Award firm finalists this year out of hundreds of nominations and suggestions we received.
A change in test governing whether workers are classified as employees or independent contractors could upend the business models of FSI members.
