Industry News

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NEWS EQUITIES JUL 05, 2016
BlackRock's stock buyback plan at odds with CEO Larry Fink's statements

<i>Breakfast with Benjamin</i> Larry Fink has been critical of the buyback trend, but that hasn't stopped BlackRock from buying back $275 million worth of its own stock on a quarterly basis.

By Jeff Benjamin
Despite congressional relief, impending Puerto Rico debt default could trip up municipal bond investors
NEWS MUTUAL FUNDS JUL 05, 2016
Despite congressional relief, impending Puerto Rico debt default could trip up municipal bond investors

OppenheimerFunds, Franklin Templeton maintain big exposure to the troubled island's debt.

By Jeff Benjamin
Betterment's move to halt trading following Brexit vote sparks controversy
NEWS FINTECH JUL 05, 2016
Betterment's move to halt trading following Brexit vote sparks controversy

By Alessandra Malito
Thomas Perez points to two factors in DOL fiduciary rule's favor to prevail in lawsuits
NEWS REGULATION AND LEGISLATION JUL 05, 2016
Thomas Perez points to two factors in DOL fiduciary rule's favor to prevail in lawsuits

Labor secretary says the extensive rulemaking process and the regulation's merits of consumer protection will protect the measure.

By Mark Schoeff Jr.
NEWS PRACTICE MANAGEMENT JUL 05, 2016
What really happens when wealth is transferred

Advisers and clients often do a great job preparing the money for the family, but they fail to prepare the family for the money.

By Shawn Sparks
NEWS PRACTICE MANAGEMENT JUL 05, 2016
It's time to make way for next-gen

Boomer advisers must assure successors a future, or they won't stick around to help you cash out

By Joni Youngwirth
The world's richest people lost $19 billion in 2015
NEWS EQUITIES JUL 05, 2016
The world's richest people lost $19 billion in 2015

Warren Buffett, the world's third-richest person, shed $11.3 billion as Berkshire Hathaway Inc. had its first negative annual return since 2011.

By Bloomberg
Don't you wish you could own a piece of Vanguard (the company)?
NEWS INDUSTRY NEWS JUL 01, 2016
Don't you wish you could own a piece of Vanguard (the company)?

...investors would be clamoring to buy it. In the U.S., the low-cost mutual fund giant has taken in about $1 billion a day over the past 18 months.

By Bloomberg
NEWS INDUSTRY NEWS JUL 01, 2016
5 go-to strategies for when market volatility strikes

Now's the time to assess how you felt and what you did in response to Brexit, and what you might be tempted to do in the coming weeks and months.

By Bloomberg
Unlike other active funds, First Eagle's fund champions its passion for cash
NEWS EQUITIES JUL 01, 2016
Unlike other active funds, First Eagle's fund champions its passion for cash

First Eagle Overseas Fund's large cash holdings gives it a 'leg up' when markets turn choppy.

By Jeff Benjamin
Financial advisers reach out to clients as stocks plunge in Brexit wake
NEWS EQUITIES JUL 01, 2016
Financial advisers reach out to clients as stocks plunge in Brexit wake

Advisers tried to prepare investors for Friday's wild ride as global markets digested the United Kingdom's surprising vote to exit the European Union after 43 years.

By Liz Skinner
NEWS BROKER DEALERS JUL 01, 2016
Indicted broker a poster boy for industry critics like Sen. Elizabeth Warren

Anthony Diaz, under federal indictment for fraudulent sales of alternatives, embodies the criticisms of the likes of Sen. Elizabeth Warren.

By Bruce Kelly
Schwab's Sonders and OppenheimerFunds' Memani fear Donald Trump's policies could hurt U.S. economy
NEWS INDUSTRY NEWS JUL 01, 2016
Schwab's Sonders and OppenheimerFunds' Memani fear Donald Trump's policies could hurt U.S. economy

The top investment strategists say Mr. Trump's anti-trade, anti-immigration and isolationist policies would also hurt the U.S.'s standing in the world.

By pgraham
Merrill Lynch hit with multiple fines by SEC, Finra
NEWS PRACTICE MANAGEMENT JUN 30, 2016
Merrill Lynch hit with multiple fines by SEC, Finra

Bank of America's brokerage unit admits wrongdoing in unprecedented <a href=&quot;http://www.investmentnews.com/article/20160623/FREE/160629959/merrill-lynch-to-pay-415m-to-settle-sec-charges-it-misused-customer&quot;>$415M consumer protection settlement </a> with SEC; slapped with two other fines the same day.

By Christine Idzelis
The Department of Labor, 401(k)s and technology
NEWS FINTECH JUN 30, 2016
The Department of Labor, 401(k)s and technology

While the new fiduciary rule could be interpreted as an unnecessary compliance burden, it may also present an opportunity with regard to 401(k) accounts.

By Sheryl Rowling
Retirement industry leader calls for united front in Washington
NEWS REGULATION AND LEGISLATION JUN 30, 2016
Retirement industry leader calls for united front in Washington

Edmund F. Murphy III, president of Empower Retirement, says reforms need to be led by the private sector.

By Mark Schoeff Jr.
Private bankers look to profit off the rise of robo-advice
NEWS INDUSTRY NEWS JUN 30, 2016
Private bankers look to profit off the rise of robo-advice

Artificial intelligence investment-advice services are likely to become more popular as banks expand services for the less-than-fabulously rich.

By Bloomberg
House passes Puerto Rico debt-crisis plan
NEWS INDUSTRY NEWS JUN 30, 2016
House passes Puerto Rico debt-crisis plan

The bill still requires passage by the Senate, which plans to take it up in the next several weeks.

By Bloomberg
Finra targets variable annuities as 'sweet spot' of scrutiny
NEWS LIFE INSURANCE AND ANNUITIES JUN 30, 2016
Finra targets variable annuities as 'sweet spot' of scrutiny

Following record MetLife fine, regulator says VAs are now at the core of their focus: complex products marketed to seniors.

By Mark Schoeff Jr.
Let brokers be brokers: A response to the lawsuit against the DOL fiduciary rule
NEWS OPINION JUN 30, 2016
Let brokers be brokers: A response to the lawsuit against the DOL fiduciary rule

The original industry regulations from 1934 and 1940 were perfect &#8212; just not perfectly enforced.

By Luke Dean