Retirement plan providers’ investments in technology are paying off
A quarter of plan participants now prefer to receive 401(k) account information via email, up from 9% in 2020, according to Cerulli Associates.
Allworth acquires two firms, adding $640 million in AUM
Second Opinion Partners and Muchler Financial Services are folded into the firm.
NAPFA teams with FP Transitions to offer succession planning help
The custom program will provide the group's fee-only planners with counseling and matching, including an annual valuation and an annual continuity plan.
ESG industry begins to defend against woke investment critics
Amid a growing anti-ESG movement, sustainable investors want to correct misinformation.
Borrowers could face state tax bills on forgiven student loans
Thirteen states have tax laws that would treat forgiven debt as income, meaning it's subject to state levies on earnings.
UBS dumped from Texas municipal bond deal
The bank won’t be part of the underwriting syndicate for transaction after state Comptroller Glenn Hegar included UBS on list of firms he deems “boycott” the fossil-fuel industry.
Commonwealth taps ex-LPL attorney for cybersecurity oversight
In the newly created position, Michelle Kelley will lead the firm’s legal department and provide counsel on cybersecurity and privacy laws.
Top retirement providers ranked on digital experience
As the market sell-off erodes investors’ savings, they’re becoming more critical of the platforms provided by their retirement plans.
SEC strategic plan emphasizes best-interest enforcement
The document may be an indication that the agency will pursue more complex Reg BI violations.
Kovack Securities dinged by Finra for A-share trades
The firm was fined $210,000 for falling short on its supervision of short-term mutual fund trades, the regulator said.
Powell warns rates will stay high for some time
The Federal Reserve chair pushed back against the notion that the central bank would soon reverse course.
Delaware becomes 16th state to join auto-IRA ranks
Gov. John Carney signed the Delaware EARNS Act, which requires businesses with more than five employees that don't offer a retirement plan to enroll in the state program.
Bank platform managing $2.6 billion moves to LPL
The assets of the People’s United Bank's retail brokerage and advisory business are joining those of its new parent, M&T Bank, at LPL.
Hub unit launches financial wellness service
Companies can use Hub FinPath to give their workers access to financial coaches as well as online tools.
Broker-dealers’ assets bounce back in July
Raymond James and LPL both report higher levels of assets for last month following the market's rough first half.
Wells Fargo adviser managing $220 million goes indie with Steward Partners
Thomas Barr will operate his firm, Barr Wealth Management, from Steward's New York City offices.
Vanguard preps global environmental fund
The active fund will be subadvised by Ninety One North America and will hold about 25 global 'environmental companies' in its portfolio.
Loan forgiveness unlikely to dramatically swell inflation, say economists
Student loan forgiveness will diffuse through the economy, blunting its direct impact.
Merit acquires $830 million Wisconsin team
Mersberger Financial Group will form the base of Merit’s new retirement plan business.
Goldman rethinking consumer unit’s online checking feature
Goldman has been straining to prepare a feature that would let users set up direct deposits and pay their bills online, but it's constrained by the accelerating losses on its online platform, Marcus.
