Industry News

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NEWS INDUSTRY NEWS JUL 17, 2015
Why gamblers lose to the casino and the tax man at the same time

By law, you must pay taxes on every dollar you win. Now, the IRS is proposing to lower the mandatory reporting threshold for slot machines.

By Bloomberg
NEWS BROKER DEALERS JUL 16, 2015
At Edward Jones, it's still one person, one office

Company bucks industry trend toward forming broker teams.

By Mason Braswell
Credit Suisse to focus on wealth management
NEWS WIREHOUSES JUL 16, 2015
Credit Suisse to focus on wealth management

New CEO says firm will also shrink investment bank because of "unsupportive" and "unfavorable" regulation.

By Bloomberg
SIFMA's advice to DOL on the fiduciary rule: Start over
NEWS RETIREMENT PLANNING JUL 16, 2015
SIFMA's advice to DOL on the fiduciary rule: Start over

Industry heavyweight argues the proposal would limit access to investment advice.

By Mark Schoeff Jr.
BofA wins dismissal of NFL star Dwight Freeney's $20 million suit
NEWS WIREHOUSES JUL 16, 2015
BofA wins dismissal of NFL star Dwight Freeney's $20 million suit

Bank of America has dodged a high-profile, $20 million lawsuit brought by NFL star Dwight Freeney, who sued the company and his Merrill Lynch adviser, but the star's attorney says he plans to refile.

By Mason Braswell
NEWS RETIREMENT PLANNING JUL 16, 2015
Finra says DOL fiduciary rule would confuse advisers, investors

By Mark Schoeff Jr.
NEWS INDUSTRY NEWS JUL 16, 2015
How to avoid mistakes when investing to minimize taxes

By selling stocks with high or low capital gains, you may be only looking at past performance.

By Bill DeShurko
NEWS RETIREMENT PLANNING JUL 16, 2015
What you can learn from a Harvard economist's retirement screw-up

Alicia Munnell confesses her "not-so-smart" moves and explains how she recovered. Hint: It had nothing to do with stocks or bonds.

By Bloomberg
Latest trends in the retirement income market
NEWS RETIREMENT PLANNING JUL 16, 2015
Latest trends in the retirement income market

Capturing rollovers, satisfying income seekers in low-interest rate environment.

By Mary Beth Franklin
Perez assures lawmakers DOL will make fiduciary rule work
NEWS RETIREMENT PLANNING JUL 16, 2015
Perez assures lawmakers DOL will make fiduciary rule work

By Mark Schoeff Jr.
NEWS BROKER DEALERS JUL 16, 2015
Edward Jones continues push into proprietary funds

Brokerage giant is expanding its lineup of proprietary mutual funds for its 12,000 brokers and financial advisers a year and a half after the firm launched its first fund.

By Bruce Kelly
Merrill Lynch nabs $1.3 billion UBS team
NEWS PRACTICE MANAGEMENT JUL 15, 2015
Merrill Lynch nabs $1.3 billion UBS team

The carousel of wirehouse advisers continues to spin.

By Alessandra Malito
Merrill fires $2.5 billion-plus adviser
NEWS WIREHOUSES JUL 15, 2015
Merrill fires $2.5 billion-plus adviser

A top broker in California, Marc D. Lowe was dismissed earlier this month for "inappropriate workplace behavior;" circumstances still unclear.

By Mason Braswell
Goldman's Lloyd Blankfein joins billionaire club
NEWS PRACTICE MANAGEMENT JUL 15, 2015
Goldman's Lloyd Blankfein joins billionaire club

The largest individual owner of Goldman Sachs stock has a stake in the company worth almost $500 million, plus real estate and a portfolio seeded by cash bonuses and distributions from the bank's private-equity funds.

By Bloomberg
Morningstar repeats 'not-ratable' status for Gundlach's DoubleLIne Total Return Bond Fund but can't ignore its success
NEWS MUTUAL FUNDS JUL 15, 2015
Morningstar repeats 'not-ratable' status for Gundlach's DoubleLIne Total Return Bond Fund but can't ignore its success

Even though Morningstar, for the second year in a row, has released its analysis dubbing the DoubleLine Total ReturnBond Fund not-ratable, analyst Sarah Bush is unable to get around pointing out that it's pretty good.

By Jeff Benjamin
You know investors are getting nervous when oil becomes a safe-haven play
NEWS ALTERNATIVES JUL 15, 2015
You know investors are getting nervous when oil becomes a safe-haven play

<i>Breakfast with Benjamin</i>: Oil stocks are starting to attract investors seeking safety, and that should be cause for concern.

By Jeff Benjamin
NEWS INDUSTRY NEWS JUL 15, 2015
Should you let an algorithm do your saving for you?

An increasing number of companies want to identify &amp;mdash; and whisk away &amp;mdash; your excess cash.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 15, 2015
Why Social Security should be your backup plan in retirement

Claim early only if you really need to; suspend until later if you can afford it.

By Mary Beth Franklin
NEWS FINTECH JUL 15, 2015
An identity thief explains the art of emptying your clients' bank accounts

Meet Dmitry Naskovets, the con man from Minsk.

By Bloomberg
7 reasons why financial stewardship is more valuable than a fiduciary standard
NEWS OPINION JUL 15, 2015
7 reasons why financial stewardship is more valuable than a fiduciary standard

Could financial stewardship be used as a higher professional standard of care by advisers?

By Ramon Berenguer