Industry News

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World's biggest pension fund takes $52 billion hit as stocks sink
NEWS EQUITIES AUG 25, 2016
World's biggest pension fund takes $52 billion hit as stocks sink

Japan's Government Pension Investment Fund loses 3.9%, erasing gains from previous six quarters.

By CNELSON
California poised to pass state retirement savings law
NEWS RETIREMENT PLANNING AUG 25, 2016
California poised to pass state retirement savings law

Within days, the governor of America's largest state is expected to provide access to nearly 7 million people without a retirement plan through the workplace.

By Greg Iacurci
Edward Jones faces proposed class action lawsuit over excessive 401(k) fees
NEWS RETIREMENT PLANNING AUG 25, 2016
Edward Jones faces proposed class action lawsuit over excessive 401(k) fees

The lawsuit continues a barrage of litigation filed in recent weeks related to fiduciary breaches in retirement plans.

By Greg Iacurci
Social Security drops cell phone mandate
NEWS RETIREMENT PLANNING AUG 25, 2016
Social Security drops cell phone mandate

Agency apologizes and says it will pursue other security authentication options.

By Mary Beth Franklin
Wells Fargo names David Kowach to head brokerage business
NEWS INDUSTRY NEWS AUG 25, 2016
Wells Fargo names David Kowach to head brokerage business

Mr. Kowach replaces Mary Mack, who now oversees community banking.

By Christine Idzelis
California, fund industry spar over automatic retirement savings plan Secure Choice
NEWS RETIREMENT PLANNING AUG 25, 2016
California, fund industry spar over automatic retirement savings plan Secure Choice

The Investment Company Institute blasts the state over its plans to exclude mutual funds from the proposed Secure Choice program.

By John Waggoner
Americans vote 'yes' to free college, 'no' to taxes to pay for it
NEWS INDUSTRY NEWS AUG 25, 2016
Americans vote 'yes' to free college, 'no' to taxes to pay for it

While 62% said they support debt-free university tuition in a recent poll, 48% said they would not be willing to pay more in federal taxes to fund free college.

By Bloomberg
NEWS BROKER DEALERS AUG 25, 2016
Medical Capital executive gets 10-year sentence for private placement fraud

Joseph J. Lampariello also ordered to pay nearly $40 million in restitution.

By Bruce Kelly
NEWS RETIREMENT PLANNING AUG 25, 2016
How millennials can establish good credit scores

These strategies can help young investors build a strong credit histories — even if they eschew owning credit cards.

By Bloomberg
Why broker-dealers and financial advisers should be required to carry insurance
NEWS PRACTICE MANAGEMENT AUG 25, 2016
Why broker-dealers and financial advisers should be required to carry insurance

Finra does not require its members to carry insurance, which lets big risks to investors materialize.

By Benjamin P. Edwards
NEWS RETIREMENT PLANNING AUG 25, 2016
Some retirement plan record keepers resort to aggressive sales tactics with proprietary products

Some retirement plan record keepers resort to aggressive sales tactics with their proprietary products, offering discounted record-keeping services if proprietary funds are used. </br><i><b>(More on plan advice: <a href="//www.investmentnews.com/article/20160327/BLOG09/303279999/how-to-choose-a-plan-sponsor-partner-to-adapt-to-dol-fiduciary-rule&quot;" target="&quot;_blank&quot;" rel="noopener">How to choose a plan-sponsor partner to adapt to DOL fiduciary</a>)</b></i>

By Greg Iacurci
Robo-advice drives 22% jump in clients for SEC-registered advisers, study shows
NEWS RIAS AUG 24, 2016
Robo-advice drives 22% jump in clients for SEC-registered advisers, study shows

SEC-registered advisers reach record number of clients through automated investment models and mobile apps. <i>(Plus: For more on the pros and cons of going robo, <a href=&quot;http://www.investmentnews.com/section/video?playerType=PracticeMakeover&amp;seasonID=PM04&amp;bctid=4680106199001&amp;date=20160111&quot; target=&quot;_blank&quot;>watch this video</a>.)</i>

By Christine Idzelis
When outperformance puts active managers out of business
NEWS EQUITIES AUG 24, 2016
When outperformance puts active managers out of business

Taking on too much risk to stay on top.

By Jeff Benjamin
Money-market funds scramble ahead of SEC's floating NAV rule
NEWS MUTUAL FUNDS AUG 24, 2016
Money-market funds scramble ahead of SEC's floating NAV rule

Fund companies, investors move to avoid new fees and restrictions

By Jeff Benjamin
NEWS EQUITIES AUG 24, 2016
Keep index funds in perspective in the active-passive debate

The debate favors active because calculations are often skewed.

By Jeff Benjamin
What's active management's best hope? Look to the king of passive investing, Vanguard
NEWS EQUITIES AUG 24, 2016
What's active management's best hope? Look to the king of passive investing, Vanguard

By Bloomberg
NEWS RETIREMENT PLANNING AUG 24, 2016
DOL fiduciary rule gets it half right on the municipal bond market

Shrinking the pool of muni sellers does not help investors

By Jeff Benjamin
NEWS EQUITIES AUG 24, 2016
Gender diversity becomes an investment strategy

<i>Breakfast with Benjamin</i> In the wake of the March launch of the SPDR SSGA Gender Diversity Index ETF (SHE), out rolls the Bloomberg Financial Services Gender Equity Index.

By Jeff Benjamin
Follow the data to ID the best prospects
NEWS PRACTICE MANAGEMENT AUG 24, 2016
Follow the data to ID the best prospects

Advisers play an important role in grooming the next generation of savvy consumers, which can be a win-win for clients and advisers alike.

By MFXFeeder
Industry responses to confronting advice's diversity issues reveal racial divide
NEWS PRACTICE MANAGEMENT AUG 24, 2016
Industry responses to confronting advice's diversity issues reveal racial divide

Survey results indicate the advice industry is no exception to the divided perceptions of race that persist in American society

By Matt Sirinides