Industry News

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NEWS RETIREMENT PLANNING FEB 02, 2017
Getting married in America is more expensive than ever

Couples spend an average of $78,464 to get married in the most expensive wedding location — and the honeymoon isn't included.

By Bloomberg
NEWS RIAS FEB 02, 2017
Clean shares could revolutionize the fund industry

Divorce distribution and management fees

By John Waggoner
NEWS FINTECH FEB 02, 2017
Big data for analyzing adviser businesses, clients part of TD's fintech strategy for 2017

TD Ameritrade Institutional will add new tools to its Veo One platform that employ analytics to help financial advisers understand their practices better and a dashboard to pinpoint client-service issues.

By Liz Skinner
NEWS RETIREMENT PLANNING FEB 02, 2017
Trump is acting on everything except your retirement

Social Security simply doesn't provide enough income for people without defined benefit pensions and 401(k)s who can't afford to save, or to save more.

By Bloomberg
NEWS REGULATION AND LEGISLATION FEB 02, 2017
House Republican Pete Sessions calls on Trump to delay DOL fiduciary rule

The chairman of the House Rules Committee said in a letter that the rule would foist “mountains of paperwork” on financial planners while denying “access to quality investment advice” to millions of investors.

By Mark Schoeff Jr.
NEWS PRACTICE MANAGEMENT FEB 02, 2017
TD's Nally urges evolution of RIA fee model

How advisers charge needs to start matching up with their value.

By Liz Skinner
NEWS RIAS FEB 02, 2017
Another salvo in the fee wars: Schwab cuts expense ratios on index funds

Offers guarantee on services.

By John Waggoner
NEWS RIAS FEB 01, 2017
Boston-area acquisition creates $4.7 billion RIA

Adviser Investments buys Braver Wealth Management, creating 80-person firm

By InvestmentNews
NEWS LIFE INSURANCE AND ANNUITIES FEB 01, 2017
Buffer annuities, an index-variable hybrid, garner mixed reactions

While some call the annuities 'odious' due to complexity, others believe they're more straightforward than other annuity products.

By Greg Iacurci
NEWS INDUSTRY NEWS FEB 01, 2017
Edward Scissorhands slices into business manager with fiduciary lawsuit

In a lawsuit that has ramifications for financial advisers actor Johnny Depp has sued his former business managers, The Management Group, claiming that the firm engaged in gross mismanagement, self-dealing and fraud.

By InvestmentNews
Ask the Ethicist: What happens when an adviser gets caught in the middle of divorcing clients?
NEWS PRACTICE MANAGEMENT FEB 01, 2017
Ask the Ethicist: What happens when an adviser gets caught in the middle of divorcing clients?

There are several ethical breaches in this tale, and not all of them land at the feet of the adviser.

By Dan Candura
NEWS REGULATION AND LEGISLATION FEB 01, 2017
Justice Department continues to defend DOL fiduciary rule in court

Some experts anticipate the Trump administration will abandon the legal fight, but that hasn't happened yet.

By Mark Schoeff Jr.
Conditions fertile for annuities if industry can connect with investors
NEWS LIFE INSURANCE AND ANNUITIES FEB 01, 2017
Conditions fertile for annuities if industry can connect with investors

A number of factors — DOL fiduciary, low interest rates and longevity — are coming together in favor of annuities if certain impediments are eliminated.

By Evan Cooper
NEWS WIREHOUSES FEB 01, 2017
Merrill Lynch trying to make fees more transparent

The wirehouse will break out fees for asset management services and products including mutual funds, alternative investments and commodities when it mails January account statements later this week

NEWS RETIREMENT PLANNING JAN 31, 2017
Aon Hewitt sued for 401(k) 'kickback' scheme with Financial Engines

The record keeper joins three others — Fidelity, Voya and Xerox — in being sued over its relationship with the advice provider.

By Greg Iacurci
NEWS RETIREMENT PLANNING JAN 31, 2017
Many wealthy Americans haven't planned for the transfer of their assets

Adviser's approach can overcome client worries, such as that children won't have an incentive to work if they know how much they will inherit.

By Liz Skinner
NEWS INDUSTRY NEWS JAN 31, 2017
Man accused of $17M 'pump-and-dump' scheme walks free

Judge dismisses case, saying government took too long to indict brokerage owner Guy Gentile

By Bloomberg
NEWS FINTECH JAN 31, 2017
Betterment now offering human advice with its robo

Clients can get live advice if they have enough assets, and those seeking a dedicated adviser will be referred to an RIA who is using Betterment for Advisors.

By Liz Skinner
NEWS REGULATION AND LEGISLATION JAN 31, 2017
DOL fiduciary rule not yet caught up in Trump maelstrom

Speculation is mounting as to what is taking the administration so long to act. Is President Trump waiting for his DOL secretary nominee to be approved? Or is he finding it harder to repeal than expected?

By Mark Schoeff Jr.
Bank of America's Merrill Lynch reports a 1% increase in number of financial advisers
NEWS PRACTICE MANAGEMENT JAN 31, 2017
Bank of America's Merrill Lynch reports a 1% increase in number of financial advisers

Bank's wealth management unit reports higher earnings on lower revenue.

By Bruce Kelly