Industry News

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Why seniors need travel insurance
NEWS RETIREMENT PLANNING NOV 29, 2018
Why seniors need travel insurance

Medicare doesn't cover medical costs outside the U.S.

By Mary Beth Franklin
Annuity and mutual fund interests at odds over 401(k) disclosures
NEWS RETIREMENT PLANNING NOV 29, 2018
Annuity and mutual fund interests at odds over 401(k) disclosures

Insurance groups facing off against retirement industry stakeholders over issue of lifetime income illustrations.

By Greg Iacurci
LPL recruits $300 million Founders Federal Credit Union group from Cetera
NEWS BROKER DEALERS NOV 28, 2018
LPL recruits $300 million Founders Federal Credit Union group from Cetera

LPL seen as well-suited for the credit union's wealth management unit.

By Jeff Benjamin
Powell comment seen suggesting fewer Fed hikes
NEWS EQUITIES NOV 28, 2018
Powell comment seen suggesting fewer Fed hikes

Wall Street celebrated that news, with US stocks posting their biggest gains since March.

By Bloomberg
Finra arbitrators award $1 million to client in churning case
NEWS REGULATION AND LEGISLATION NOV 28, 2018
Finra arbitrators award $1 million to client in churning case

Barred firm Legend Securities Inc. was 'Wild Wild West,' attorney asserts.

By Mark Schoeff Jr.
Large broker-dealers expand how they work with small 401(k) plans
NEWS RETIREMENT PLANNING NOV 28, 2018
Large broker-dealers expand how they work with small 401(k) plans

UBS, Morgan Stanley, Raymond James, LPL and Merrill Lynch are among the B-Ds giving retirement plan advisers more ways to offer fiduciary investment services to 401(k) plans.

By Greg Iacurci
Independent broker-dealers fastest-growing brokerage group
NEWS BROKER DEALERS NOV 28, 2018
Independent broker-dealers fastest-growing brokerage group

IBDs registered a five-year compound annual growth rate in assets of 11%, almost double that of wirehouses, Cerulli reports.

By Bruce Kelly
Market volatility pushes more RIA owners to negotiating table
NEWS RIAS NOV 27, 2018
Market volatility pushes more RIA owners to negotiating table

With firm valuations tied to stock market levels, RIA owners look for exits.

By Jeff Benjamin
Ultra-rich seek loans in preparation for market downturn
NEWS INDUSTRY NEWS NOV 27, 2018
Ultra-rich seek loans in preparation for market downturn

Firms peg loans to billionaires and millionaires as key area for growth.

By Bloomberg
Baird and Hilliard Lyons, two established regional firms, to merge
NEWS BROKER DEALERS NOV 27, 2018
Baird and Hilliard Lyons, two established regional firms, to merge

Combined, the new firm will have 1,270 advisers and $260 billion in assets.

By Bruce Kelly
Congress tries to jam through retirement legislation by year-end
NEWS RETIREMENT PLANNING NOV 27, 2018
Congress tries to jam through retirement legislation by year-end

The chairman of the House Ways and Means Committee is upping the ante on his prior effort to pass a package of tax and retirement measures.

By Greg Iacurci
Finra bars another broker who sold $10.8 million of Woodbridge Ponzi
NEWS INDUSTRY NEWS NOV 27, 2018
Finra bars another broker who sold $10.8 million of Woodbridge Ponzi

The broker, Frank Dietrich, earned $261,000 in commissions from the sales.

By Bruce Kelly
Kovitz Investment Group acquires Northern Capital Management
NEWS RIAS NOV 26, 2018
Kovitz Investment Group acquires Northern Capital Management

Kovitz, which pushes beyond $4 billion under managment with its second deal of the year, is part of the network of Focus Financial Partners.

By Jeff Benjamin
Amid media scrutiny over sexual harassment claims, Fidelity promotes women to higher positions
NEWS INDUSTRY NEWS NOV 26, 2018
Amid media scrutiny over sexual harassment claims, Fidelity promotes women to higher positions

Harassment allegations spur increase of female leadership in stock-picking unit

By Bloomberg
The gold rush that is reshaping private banking
NEWS ALTERNATIVES NOV 26, 2018
The gold rush that is reshaping private banking

An explosion in wealth in the wake of the financial crisis has banks targeting the growing ranks of super rich.

By Bloomberg
Variable annuity sales up 25% from this time a year ago
NEWS RETIREMENT PLANNING NOV 26, 2018
Variable annuity sales up 25% from this time a year ago

Rising interest rates and slowing stock market drive assets to insurance products, Limra report says.

By Ryan W. Neal
NAIFA files suit against New York for mandating best-interest insurance sales
NEWS LIFE INSURANCE AND ANNUITIES NOV 26, 2018
NAIFA files suit against New York for mandating best-interest insurance sales

Interest group chapter argues the state's Department of Financial Services exceeded its authority with the rule.

By Mark Schoeff Jr.
Your client has a car, a gun — and Alzheimer's
NEWS RETIREMENT PLANNING NOV 26, 2018
Your client has a car, a gun — and Alzheimer's

Are you helping clients with the four key transitions in retirement?

By Stephen Gresham
Variable annuity shops eye property and casualty insurers to expand distribution
NEWS LIFE INSURANCE AND ANNUITIES NOV 26, 2018
Variable annuity shops eye property and casualty insurers to expand distribution

Jackson National and Lincoln Financial, among the largest VA providers, recently announced distribution partnerships set to kick in next year.

By Greg Iacurci
Independent Perspective: Why Reza Zamani Chose Independence
NEWS LIFE INSURANCE AND ANNUITIES NOV 26, 2018
Independent Perspective: Why Reza Zamani Chose Independence

Learn how and why one advisor decided to make the move to independence, and how his business fared.

By Gillian Albert