Industry News

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Hurricane-proof homes are available. Why isn't anyone buying them?
NEWS INDUSTRY NEWS JUN 22, 2018
Hurricane-proof homes are available. Why isn't anyone buying them?

Architects and engineers are devising better ways to protect buildings against extreme weather, but the innovations are slow to spread

By Bloomberg
Hillary Clinton would have saved the DOL fiduciary rule
NEWS REGULATION AND LEGISLATION JUN 22, 2018
Hillary Clinton would have saved the DOL fiduciary rule

If the presidential election had gone the other way, the Labor Department would have overcome the regulation's legal challenges — or at least still be in the fight.

By Mark Schoeff Jr.
Why the super wealthy may want to fund life insurance with a loan
NEWS RETIREMENT PLANNING JUN 22, 2018
Why the super wealthy may want to fund life insurance with a loan

If the rate of return on the policy exceeds the loan's interest rate over the life of the contract, the client comes out ahead. But beware the risks.

By Greg Iacurci
From asset manager to holistic planner
NEWS RIAS JUN 22, 2018
From asset manager to holistic planner

30-year-old Boston advisory firm rebrands as Prio Wealth and refocuses on clients.

By Jeff Benjamin
Wells Fargo team managing $150 million moves to Snowden Lane
NEWS INDUSTRY NEWS JUN 22, 2018
Wells Fargo team managing $150 million moves to Snowden Lane

Hybrid Hogan Eller Wealth Management in San Antonio, Texas, affiliates with New York firm.

By InvestmentNews
SEC charges insurance agent with $1.27 million Ponzi scheme
NEWS LIFE INSURANCE AND ANNUITIES JUN 22, 2018
SEC charges insurance agent with $1.27 million Ponzi scheme

James Hocker took money from 25 mostly elderly, unsophisticated investors.

By Bloomberg
It's official: DOL fiduciary rule is dead
NEWS REGULATION AND LEGISLATION JUN 21, 2018
It's official: DOL fiduciary rule is dead

The 5th Circuit Court of Appeals issued a mandate Thursday making its March 15 decision to strike down the regulation effective.

By Mark Schoeff Jr.
Guggenheim said to consider sale of asset management unit
NEWS FIXED INCOME JUN 21, 2018
Guggenheim said to consider sale of asset management unit

Transaction could involve Guggenheim taking on Munich Re's asset management unit

By Bloomberg
Morgan Stanley settles confidentially with departing broker
NEWS WIREHOUSES JUN 21, 2018
Morgan Stanley settles confidentially with departing broker

Daniel Abel agrees not to solicit his former clients at the firm.

By Bloomberg
Minnesota charges financial planner with fraud costing investors $200,000
NEWS LIFE INSURANCE AND ANNUITIES JUN 21, 2018
Minnesota charges financial planner with fraud costing investors $200,000

Lisa Marie Schurhammer said to have engaged in phony annuity and gold sales.

By Bloomberg
Lessons 401(k) advisers learned from the DOL fiduciary rule saga
NEWS RIAS JUN 21, 2018
Lessons 401(k) advisers learned from the DOL fiduciary rule saga

The rule regulated what was already happening within the defined-contribution industry anyway.

By Fred Barstein
Duo from JPMorgan head to Alex. Brown
NEWS INDUSTRY NEWS JUN 21, 2018
Duo from JPMorgan head to Alex. Brown

Jon DuPrau and Caspar Tudor join the team in Los Angeles, Calif.

By Sarah Min
Advisor Group acquires Signator Investors and plans on folding it into Royal Alliance
NEWS INDUSTRY NEWS JUN 21, 2018
Advisor Group acquires Signator Investors and plans on folding it into Royal Alliance

Advisor Group takes 'orphan' broker-dealer off the hands of John Hancock Financial Services.

By Jeff Benjamin
Clayton defends SEC advice rule amid congressional grilling
NEWS REGULATION AND LEGISLATION JUN 21, 2018
Clayton defends SEC advice rule amid congressional grilling

Reps. Maxine Waters, Carolyn Maloney express concerns that measure is too weak.

By Mark Schoeff Jr.
Social Security benefits lost 34% of their buying power since 2000
NEWS RETIREMENT PLANNING JUN 21, 2018
Social Security benefits lost 34% of their buying power since 2000

The past year saw the biggest loss of the decade as increases in living expenses outpaced the cost-of-living adjustment.

By Mary Beth Franklin
Former Merrill Lynch rep barred by Finra for failure to appear at hearing
NEWS INDUSTRY NEWS JUN 20, 2018
Former Merrill Lynch rep barred by Finra for failure to appear at hearing

Regulator was investigating Joseph Clottey's compensation irregularities.

By Bloomberg
Concerns about trade war play out in ETF flows
NEWS ETFS JUN 20, 2018
Concerns about trade war play out in ETF flows

Investors are hell-bent on industrials-to-small-caps rotation trade

By Bloomberg
Opaque, outdated 401(k) plan disclosures harming investors, advisers
NEWS RETIREMENT PLANNING JUN 20, 2018
Opaque, outdated 401(k) plan disclosures harming investors, advisers

Morningstar report: Lack of data on fees, investments makes advice on rollovers costlier and more challenging for investors.

By Greg Iacurci
Potter Financial shifts from Kestra to Commonwealth
NEWS RIAS JUN 20, 2018
Potter Financial shifts from Kestra to Commonwealth

Hybrid manages $130 million in Durham, N.C.

By Bloomberg
MetLife, Brighthouse sued for $500 million over missing pensioners
NEWS RETIREMENT PLANNING JUN 20, 2018
MetLife, Brighthouse sued for $500 million over missing pensioners

Lawsuit claims insurers 'betrayed' thousands of pension plan participants and beneficiaries.

By Greg Iacurci