April 26, 2021
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Featured News
In face of pandemic, IBDs proved resilient in 2020
Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.
Biden tax proposal draws ire from financial advisers
The idea of hiking taxes on capital gains from the current top rate of 23.8% is viewed by some as a trial balloon to test levels of support and resistance. The top tax rate would apply to those with annual incomes of at least $1 million, which is about 500,000 American taxpayers.
Morgan Stanley sells ETrade’s custody business in $55 million deal
CEO James Gorman never could muster much enthusiasm for ETrade Advisor Services, which would have been a direct competitor to the bank's 16,000 financial advisers.
Keeping ESG investment performance in perspective
After 12-month returns in the triple digits, investors got a wake-up call when ESG funds came crashing back down to earth.
Third of near-retirees fail basic Social Security quiz
The level of knowledge is improving but the public still needs guidance on decisions about claiming benefits.
