Industry News

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Stifel adds wirehouse teams managing $1.1 billion in assets
RIAS INDUSTRY NEWS APR 05, 2019
Stifel adds wirehouse teams managing $1.1 billion in assets

Nine reps, from Merrill Lynch, Raymond James and Wells Fargo, join firm.

By InvestmentNews
Indexed annuity sales projected to grow nearly 40% by 2023
INVESTING LIFE INSURANCE AND ANNUITIES APR 05, 2019
Indexed annuity sales projected to grow nearly 40% by 2023

Continued market volatility and rising interest rates will push fixed annuities to new highs, Limra estimates.

By Greg Iacurci
Finra fines former LPL rep $5,000 over viatical sale
INVESTING LIFE INSURANCE AND ANNUITIES APR 05, 2019
Finra fines former LPL rep $5,000 over viatical sale

LPL terminated Scott Klor in 2017 for violating firm policies.

By InvestmentNews
Kestra loses $11 billion retirement group to LPL
ADVISOR NEWS RETIREMENT PLANNING APR 04, 2019
Kestra loses $11 billion retirement group to LPL

Strategic Retirement Partners is joining GRP Financial, an LPL super-OSJ.

By Greg Iacurci
Air Force veteran-turned-adviser clashes with First Command
ADVISOR NEWS INDEPENDENT BROKER DEALERS APR 04, 2019
Air Force veteran-turned-adviser clashes with First Command

Adviser seeks $10 million in damages in dispute over copyrighted sales materials.

By Bruce Kelly
RIAs see new competition from Schwab subscription pricing
RIAS INDUSTRY NEWS APR 04, 2019
RIAs see new competition from Schwab subscription pricing

Some advisers are confident they can provide enough value to justify their fees.

By Ryan W. Neal
F.L. Putnam acquires Financial Focus and $275 million in AUM
RIAS INDUSTRY NEWS APR 03, 2019
F.L. Putnam acquires Financial Focus and $275 million in AUM

Acquisition adds presence in Wolfeboro, N.H., to firm's New England footprint.

By InvestmentNews
UBS considers sale, acquisition and other options for its asset management business
RIAS INDUSTRY NEWS APR 03, 2019
UBS considers sale, acquisition and other options for its asset management business

Unit has been hit particularly hard by investor flight to cheaper funds.

By Bloomberg
No CEO and no plan in sight for Wells Fargo
RIAS INDUSTRY NEWS APR 03, 2019
No CEO and no plan in sight for Wells Fargo

The next chief executive faces a daunting challenge, with more than a dozen investigations targeting the bank.

By Bloomberg
Marsh & McLennan acquires Centurion, a $16 billion retirement group
ADVISOR NEWS RETIREMENT PLANNING APR 03, 2019
Marsh & McLennan acquires Centurion, a $16 billion retirement group

Acquisitions in the retirement plan market are heating up.

By Greg Iacurci
Alternative strategies earn their keep over six months of market extremes
RIAS INDUSTRY NEWS APR 03, 2019
Alternative strategies earn their keep over six months of market extremes

The key is looking beyond the broad category averages to focus on portfolio managers and the investment process

By Jeff Benjamin
New SEC nominee may not have time to influence Reg BI
ADVISOR NEWS REGULATION AND LEGISLATION APR 03, 2019
New SEC nominee may not have time to influence Reg BI

Allison H. Lee could arrive just as the agency is finishing its advice reform rule, or get stuck awaiting Senate confirmation.

By Mark Schoeff Jr.
Maryland fiduciary bill killed in committee
ADVISOR NEWS REGULATION AND LEGISLATION APR 03, 2019
Maryland fiduciary bill killed in committee

Further action appears unlikely with legislature set to adjourn April 8.

By Mark Schoeff Jr.
Captrust acquires $13 billion in AUA through FiduciaryVest spin out
RIAS INDUSTRY NEWS APR 02, 2019
Captrust acquires $13 billion in AUA through FiduciaryVest spin out

Co-founder Philly Jones and team leave; remaining partner continues as FiduciaryVest

By InvestmentNews
Cerity Partners buys Blue Prairie Group to create $21 billion advisory firm
ADVISOR NEWS RETIREMENT PLANNING APR 02, 2019
Cerity Partners buys Blue Prairie Group to create $21 billion advisory firm

Blue Prairie's retirement plan business gives Cerity Partners an 'end-to-end' solution.

By Jeff Benjamin
United Capital adds $800 million in AUM through two acquisitions
RIAS INDUSTRY NEWS APR 02, 2019
United Capital adds $800 million in AUM through two acquisitions

Irongate International of Moline, Ill., and Atlanta's Peachtree Investment Advisors join firm.

By InvestmentNews
Fidelity says retirees can expect to spend $285,000 on health care
ADVISOR NEWS RETIREMENT PLANNING APR 02, 2019
Fidelity says retirees can expect to spend $285,000 on health care

Annual study says total estimated cost has risen more slowly in past two years.

By Bloomberg
California wins auto-IRA lawsuit
ADVISOR NEWS RETIREMENT PLANNING APR 02, 2019
California wins auto-IRA lawsuit

The case, the first to address the issue of ERISA pre-emption, is a positive sign for other states.

By Greg Iacurci
How mid-cap growth funds owned the first quarter
RIAS INDUSTRY NEWS APR 02, 2019
How mid-cap growth funds owned the first quarter

Investors who stayed put during the fourth-quarter market meltdown were rewarded by mid-cap managers.

By Jeff Benjamin
Hybrid firm managing $390 million switches from Foresters to LPL
RIAS INDUSTRY NEWS APR 02, 2019
Hybrid firm managing $390 million switches from Foresters to LPL

Firenze Wealth Management is based in metro Portland, Ore.

By InvestmentNews