Texas publishes fund blacklist for state pensions
BlackRock, UBS and Schroders are among the financial firms called out by the state comptroller for their 'boycott' of fossil-fuel companies.
Student debt relief lets clients use their money more productively
But advisers have concerns that the loan forgiveness may contribute to inflation and that it transfers the repayment burden to taxpayers.
Dynasty Financial Partners signals IPO is still the plan
An updated filing with the SEC appears to squash reports that Dynasty is shelving its plans to go public.
Merrill chief cites health care, energy, tech as top sectors to consider now
'This is where investors want to be putting cash to work,' said Andy Sieg, president of Merrill Lynch Wealth Management.
Inflationary trend lands advisers in unfamiliar territory
The Biden administration's plan to cancel billions in student debt could drive inflation even higher.
Biden to forgive $10,000 in student debt
The plan would set a $125,000 income cap for individuals and $250,000 for households, and would provide up to $20,000 in loan forgiveness for those who also received Pell Grants.
Beacon Pointe acquires $600 million bank unit in Texas
Benchmark Private Wealth Management, with offices in Dallas, Waco, Plano, Austin and Houston, will retain its ties to Benchmark Bank.
Offshore loophole helps Americans evade taxes, Senate report says
Setting up shell companies abroad and registering them with the IRS as offshore financial institutions lets Americans sidestep FATCA, according to the report.
Hedge fund guru Julian Robertson dies at 90
The billionaire founder of Tiger Management became one of his generation's most successful hedge fund managers and a mentor to a wave of investors known as Tiger Cubs.
Scholarship targets people underrepresented in financial planning
The CFP Board Center for Financial Planning and Mission Wealth Management launched a program that will award $5,000 scholarships to students seeking the credential.
$4 billion team breaks away from Wells Fargo Advisors to form RIA
A desire to act in the best interests of the firm's clients leads to launch of Moran Wealth Management in Naples, Florida, with 36 employees.
Free trading costs retail investors $34 billion a year, study says
An academic study finds retail stock trades are getting done at significantly different prices, depending on the brokerage.
Duo from TIAA manages $600 million at Raymond James
Nicholas Troiano and Mathew Mattice join the firm's employee unit in Colorado.
‘ESG integration’ a sticking point in SEC proposals
In comment letters, fund companies and industry groups ask for more clarity from the regulator.
Annuity sales smash records in final Q2 count: Limra
Total U.S. annuity sales rose 16% to $79.4 billion in the second quarter, nearly the exact opposite of the S&P 500's return.
iCapital acquires UBS legacy alternative investment feeder fund platform
The fintech has purchased UBS Fund Advisor, the wirehouse’s legacy proprietary U.S. alternative investment manager and feeder fund platform that represents $7 billion in client assets.
Plan sponsors are encouraging adviser competition: Fidelity
A new survey shows 47% of plan sponsors are considering changing advisers and 48% are thinking about switching record keepers.
Legislation would help senior investors obtain legal help
Bills in both the House and Senate would establish an SEC grant program to support investor advocacy clinics at law schools.
David Lerner’s latest proprietary fund snag
The brokerage firm's in-house energy fund, Energy 11 L.P., reports $45 million in 'unpaid distributions' to investors.
John Hancock settles with NY state after long-term care insurance probe
The insurer will pay almost $21.6 million to consumers and their beneficiaries, along with $2.2 million to the New York State Medicaid program and a $2.5 million penalty to New York state.
