Industry News

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BlackRock plans ETF focused on remote-work companies
NEWS MUTUAL FUNDS JUN 16, 2020
BlackRock plans ETF focused on remote-work companies

Its move follows Direxion's April announcement of a 'work-from-home' fund

By Bloomberg
NEWS INDUSTRY NEWS JUN 15, 2020
Jay Clayton’s legacy as SEC chairman, broker pay cuts and the quirky investigation of a lawyer

The second weekly episode of the InvestmentNews Podcast with senior columnists Jeff Benjamin and Bruce Kelly

By InvestmentNews
Ex-Raymond James broker faces criminal charges for defrauding elderly customers
NEWS RETIREMENT PLANNING JUN 15, 2020
Ex-Raymond James broker faces criminal charges for defrauding elderly customers

The SEC filed a parallel civil complaint against Frederick M. Stow for stealing nearly $1 million

By Mark Schoeff Jr.
Auto-IRA bill awaits governor's signature in Colorado
NEWS RETIREMENT PLANNING JUN 15, 2020
Auto-IRA bill awaits governor's signature in Colorado

It will become the latest state to move forward with a retirement savings program for private-sector workers

By Emile Hallez
$500M adviser team drops Merrill Lynch for Sanctuary Wealth
NEWS BROKER DEALERS JUN 15, 2020
$500M adviser team drops Merrill Lynch for Sanctuary Wealth

Muirwood Wealth Partners marks the second team to transition away from the wirehouse in favor of an independent platform this month

By Nicole Casperson
INmail: Claiming strategy for nonworking spouse
NEWS RETIREMENT PLANNING JUN 15, 2020
INmail: Claiming strategy for nonworking spouse

What’s the best Social Security claiming strategy for a married couple where the husband is 67 and the wife, who has no earnings history of her own, is 65?

By Mary Beth Franklin
Social Security underpays more than 15,000 survivors
NEWS RETIREMENT PLANNING JUN 15, 2020
Social Security underpays more than 15,000 survivors

An audit shows many retired widows and widowers are due higher survivor benefits

By Mary Beth Franklin
Morgan Stanley economists stick with call for V-shaped recovery
NEWS WIREHOUSES JUN 15, 2020
Morgan Stanley economists stick with call for V-shaped recovery

Their forecast cites the sizable policy support from central banks and finance ministries

By Bloomberg
Tax refunds for IRAs? How about groceries instead?
NEWS RETIREMENT PLANNING JUN 15, 2020
Tax refunds for IRAs? How about groceries instead?

If the CARES Act stimulus checks are any indication, more people will need the money for basic expenses

By Emile Hallez
Small broker-dealers are facing a dilemma
NEWS OPINION JUN 14, 2020
Small broker-dealers are facing a dilemma

B-Ds must ask themselves whether they’re in the advice or the sales business

By InvestmentNews
Taming your inner bear
NEWS RETIREMENT PLANNING JUN 14, 2020
Taming your inner bear

Behavioral economics explains a lot about investors’ jitters over the pandemic, and advisers who employ its insights can help clients avoid irrational decisions

By Emile Hallez
401(k) lawsuits keep piling up
NEWS RETIREMENT PLANNING JUN 12, 2020
401(k) lawsuits keep piling up

At least four lawsuits involving plans with more than $1 billion have been filed over the past few weeks

By Emile Hallez
Market volatility shines spotlight on client risk tolerance
NEWS INDUSTRY NEWS JUN 12, 2020
Market volatility shines spotlight on client risk tolerance

Advisers say clients are staying grounded, focused on long-term investing

By Jeff Benjamin
Just 2 states require their investment advisers to file Form CRS
NEWS RIAS JUN 12, 2020
Just 2 states require their investment advisers to file Form CRS

Rhode Island, Oklahoma advisers join SEC-registered advisers in meeting June 30 deadline

By Mark Schoeff Jr.
Alliance for Lifetime Income sponsors Rolling Stones ‘tour’
NEWS LIFE INSURANCE AND ANNUITIES JUN 12, 2020
Alliance for Lifetime Income sponsors Rolling Stones ‘tour’

The radio special, which will be broadcast on stations in six cities, will raise money for pandemic relief efforts

By InvestmentNews
Finra bars former J.P. Morgan bank rep for stealing
NEWS REGULATION AND LEGISLATION JUN 12, 2020
Finra bars former J.P. Morgan bank rep for stealing

David Austin took $144,000 from three customers for his personal use

By InvestmentNews
Tegra118 acquires retirement planning fintech RetireUp
NEWS FINTECH JUN 11, 2020
Tegra118 acquires retirement planning fintech RetireUp

The technology uses illustrations like charts and graphs to simplify financial concepts for clients

By Nicole Casperson
Cetera Financial tightens its belt on staff compensation: Sources
NEWS BROKER DEALERS JUN 11, 2020
Cetera Financial tightens its belt on staff compensation: Sources

The network of broker-dealers is said to have frozen merit pay bumps for staff until 2022

By Bruce Kelly
401(k) savers pull back on account trading
NEWS RETIREMENT PLANNING JUN 11, 2020
401(k) savers pull back on account trading

After seeing median returns of -20% during the first quarter, participants did not make many trades in May, according to two reports

By Emile Hallez
Impact investing rides the waves of social unrest
NEWS ESG JUN 11, 2020
Impact investing rides the waves of social unrest

Investors are happy with both the portfolio performance and the impact, according to a recent study

By Jeff Benjamin