Industry News

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BlackRock partners with tech vendor to help advisers embrace model portfolios
NEWS INDUSTRY NEWS DEC 11, 2019
BlackRock partners with tech vendor to help advisers embrace model portfolios

The new platform automatically transfers asset to a BlackRock model portfolio in a tax-efficient manner, which the company hopes will encourage adoption in nonqualified accounts.

By Ryan W. Neal
Jud Bergman remembered, and what happened at Envestnet when the CEO suddenly died
NEWS INDUSTRY NEWS DEC 11, 2019
Jud Bergman remembered, and what happened at Envestnet when the CEO suddenly died

At the MarketCounsel Summit, a moving discussion about the firm's founder, and what his death can teach RIAs about succession planning.

By Bruce Kelly
RIAs bite their nails when deciding to sell the firm
NEWS INDUSTRY NEWS DEC 11, 2019
RIAs bite their nails when deciding to sell the firm

Seventy percent experience anxiety over the decision, HighTower study finds.

By InvestmentNews
State regulators encourage brokerages to use insurance to fund arbitration losses
NEWS INDUSTRY NEWS DEC 11, 2019
State regulators encourage brokerages to use insurance to fund arbitration losses

NASAA says step would help address problem of unpaid arbitration awards

By Mark Schoeff Jr.
Wentworth acquires hybrid managing $2.7 billion
NEWS INDUSTRY NEWS DEC 11, 2019
Wentworth acquires hybrid managing $2.7 billion

Aurora Private Wealth is based in Rockaway, N.J.

By InvestmentNews
Fed leaves rates unchanged; forecasts show no change in 2020
NEWS INDUSTRY NEWS DEC 11, 2019
Fed leaves rates unchanged; forecasts show no change in 2020

FOMC says current monetary policy is "appropriate to support sustained expansion of economic activity."

By Bloomberg
Pennsylvania RIA acquires $200 million RIA
NEWS INDUSTRY NEWS DEC 11, 2019
Pennsylvania RIA acquires $200 million RIA

EHD Advisory Services was formerly affiliated with EHD Insurance in Lancaster, Pa.

By InvestmentNews
Medicare and health savings accounts don't mix
NEWS RETIREMENT PLANNING DEC 11, 2019
Medicare and health savings accounts don't mix

Unwary older workers can face tax penalties for funding an HSA after 65.

By Mary Beth Franklin
Where does the SECURE Act stand?
NEWS OPINION DEC 11, 2019
Where does the SECURE Act stand?

The measure, which seems to have stalled in the Senate, would eliminate stretch IRAs for some beneficiaries.

By Jamie Hopkins
Wells Fargo eliminates commissions from stocks and ETFs on WellsTrade
NEWS INDUSTRY NEWS DEC 10, 2019
Wells Fargo eliminates commissions from stocks and ETFs on WellsTrade

The self-directed trading platform is the latest to announce zero-fee trades as the industry embraces a new business model.

By Ryan W. Neal
HighTower could double M&A in 2020 and soon hit $100 billion in assets: Oros
NEWS RIAS DEC 10, 2019
HighTower could double M&A in 2020 and soon hit $100 billion in assets: Oros

CEO believes firm could double the half-dozen deals it has closed or initiated this year

By Bruce Kelly
Advisers bypass zero expense ratios for brand-name ETFs
NEWS INDUSTRY NEWS DEC 10, 2019
Advisers bypass zero expense ratios for brand-name ETFs

Fund that pays investors 5 basis points annually attracts just $6 million

By Jeff Benjamin
$120M firm transitions to 100% ESG investing
NEWS INDUSTRY NEWS DEC 10, 2019
$120M firm transitions to 100% ESG investing

Gitterman Wealth Management sees an opportunity for advisers to gain market share by tapping into the ESG space.

By Jeff Benjamin
Mercer acquires $230 million wealth management firm
NEWS INDUSTRY NEWS DEC 10, 2019
Mercer acquires $230 million wealth management firm

Houston-based Republic Wealth Advisors will add to Mercer's presence in Texas.

By InvestmentNews
HighTower could double M&A in 2020 and soon hit $100 billion in assets: Oros
NEWS RIAS DEC 10, 2019
HighTower could double M&A in 2020 and soon hit $100 billion in assets: Oros

CEO believes the firm could double the half-dozen deals it has closed or initiated this year.

By Bruce Kelly
Indie managing $270 million moves to Cetera from LPL
NEWS INDUSTRY NEWS DEC 10, 2019
Indie managing $270 million moves to Cetera from LPL

HMC Partners is based in Greensboro, N.C.

By InvestmentNews
NEWS INDUSTRY NEWS DEC 10, 2019
ESG investors have nothing to lose but 'indifference'

Sophisticated investors are asking about ESG in discussions with their financial professionals, some motivated by research showing that sustainable investing improves returns. Others — especially wealthy individuals — want their investments to improve the world.

By Liz Skinner
Paul Volcker, inflation tamer who set bank risk rule, dies at 92
NEWS INDUSTRY NEWS DEC 09, 2019
Paul Volcker, inflation tamer who set bank risk rule, dies at 92

The former Federal Reserve chairman served six presidents as an economic adviser in a career spanning more than half a century.

By Bloomberg
Donald Marron, Wall Street veteran active in the IBD business, dies at 85
NEWS INDUSTRY NEWS DEC 09, 2019
Donald Marron, Wall Street veteran active in the IBD business, dies at 85

A Wall Street veteran who led Paine Webber for 20 years until its $16 billion sale to UBS in 2000, Mr. Marron was also active most recently in the independent broker-dealer business.

By Bloomberg
Morgan Stanley lays off approximately 1,500 workers
NEWS INDUSTRY NEWS DEC 09, 2019
Morgan Stanley lays off approximately 1,500 workers

The job cuts, mostly in tech and operations, are part of a year-end efficiency push.

By InvestmentNews