Industry News

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NEWS RETIREMENT PLANNING JUL 13, 2015
States act as federal legislation on auto IRAs stalls

Maryland, Connecticut aim to boost savings rates; some say the measures could be mandates on small employers.

By Mark Schoeff Jr.
Real estate crowdfunding trend presents new challenges, opportunities for financial advisers
NEWS RIAS JUL 12, 2015
Real estate crowdfunding trend presents new challenges, opportunities for financial advisers

The proliferation of digital platforms puts added emphasis on due diligence.

By Jeff Benjamin
NEWS LIFE INSURANCE AND ANNUITIES JUL 12, 2015
Freeing variable annuities from information overload

Time to allow summary prospectuses for VAs

By MFXFeeder
NEWS RIAS JUL 12, 2015
Fees from custodians fail smell test

Can advisers accepting fees from custodians really be fiduciaries?

By MFXFeeder
NEWS INDUSTRY NEWS JUL 10, 2015
Condos sell fast as for-sale signs on mansions linger

A Connecticut town — home to some of the country's largest hedge funds — is seeing a pile-up of luxury houses on the market as a real-estate rebound spurs more owners to try to sell.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 10, 2015
How an elite financial adviser created his own financial freedom

Michael Kitces saves more than half his income and still drives a Kia Spectra, despite great professional success.

By Bloomberg
Gross' fund at Janus suffers worst monthly redemptions since October
NEWS INDUSTRY NEWS JUL 10, 2015
Gross' fund at Janus suffers worst monthly redemptions since October

Investor flows remain inconsistent for Janus Unconstrained Bond Fund, with $39.8 exiting in June.

By Bloomberg
HBO's 'Ballers' and its star, 'The Rock,' play fast and loose with the financial advice industry
NEWS PRACTICE MANAGEMENT JUL 10, 2015
HBO's 'Ballers' and its star, 'The Rock,' play fast and loose with the financial advice industry

Dwayne "The Rock" Johnson plays a retired football player turned money manager trying to win professional athletes as clients.

By Alessandra Malito
Support grows for strengthening variable annuity disclosures
NEWS LIFE INSURANCE AND ANNUITIES JUL 10, 2015
Support grows for strengthening variable annuity disclosures

A so-called summary prospectus would provide information about the risks, costs and benefits of the complicated products in a streamlined manner.

By Mark Schoeff Jr.
NEWS ALTERNATIVES JUL 09, 2015
Citi to pay $180 million for hedge fund sales linked to Smith Barney

Citigroup has agreed to pay $180 million to settle charges tied to two hedge funds the SEC said were improperly marketed and sold by private bankers and Smith Barney brokers.

By Mason Braswell
Janus Capital inflows slow but CEO Weil points to positive trend
NEWS INDUSTRY NEWS JUL 09, 2015
Janus Capital inflows slow but CEO Weil points to positive trend

Investors added $200 million in the second quarter, down from $1.1 billion in the prior period.

By Randy Diamond
NEWS INDUSTRY NEWS JUL 09, 2015
Toddlers need savings accounts, too

To get control of your wallet when you're an adult, you need years of practical experience with money.

By Bloomberg
NEWS RETIREMENT PLANNING JUL 09, 2015
Why you can't give relatives scholarship money and call it charity

The IRS shuts down a scholarship fund that gave money only to family; find out how you can provide income to loved ones tax free.

By Bloomberg
Minnesota adviser gets 25 years in prison for Ponzi scheme
NEWS RIAS JUL 09, 2015
Minnesota adviser gets 25 years in prison for Ponzi scheme

Sean Meadows pleaded guilty to diverting $10 million for business and personal expenses, including gambling and “adult entertainment.”

By Mason Braswell
NEWS INDUSTRY NEWS JUL 09, 2015
Should you let a robot manage your investments?

Robo-advisers aren't right for everyone. People with complicated finances, or those who need some handholding, may benefit from a person to talk to.

By Bloomberg
NEWS INDUSTRY NEWS JUL 09, 2015
NBA star Tim Duncan says losses from financial adviser topped $20 million

Future Hall of Famer Tim Duncan says he was pushed into investments despite conflicts of interest; adviser disputes the charges. <i>(Don't miss: <a href="//www.investmentnews.com/gallery/20130812/FREE/812009998/PH/athletes-vs-advisers" target="&quot;_blank&quot;" rel="noopener noreferrer">Athletes vs. Advisers</a>)</i>

By Bloomberg
Cost of settling estates rising as states hunt for more revenue
NEWS TAX JUL 08, 2015
Cost of settling estates rising as states hunt for more revenue

Connecticut tops the nation in probate fees &amp;mdash; latest example of removing caps to fund courts.

By Liz Skinner
Adviser and former race car driver convicted of defrauding NHL players of $20M
NEWS INDUSTRY NEWS JUL 08, 2015
Adviser and former race car driver convicted of defrauding NHL players of $20M

A New York jury convicted a financial adviser and his partner, a former race car driver, in a multimillion dollar fraud that victimized several current and former professional hockey players including forward Michael Peca.

By Mark Schoeff Jr.
What you can learn from the timing of Jennifer Garner and Ben Affleck's divorce
NEWS RETIREMENT PLANNING JUL 08, 2015
What you can learn from the timing of Jennifer Garner and Ben Affleck's divorce

The benefits of filing after a key anniversary may be worth the wait.

By Liz Skinner
NEWS RETIREMENT PLANNING JUL 08, 2015
Is Billy Joel the poster child for the Viagra college fund?

Older dads can trigger Social Security benefits for young children.

By Mary Beth Franklin