Advisor News

Displaying 26748 results
160 at MassMutual face layoffs due to Empower deal
RETIREMENT PLANNING OCT 23, 2020
160 at MassMutual face layoffs due to Empower deal

About 90% of a group of 2,000 MassMutual workers have been informed that they will receive job offers, according to the companies

By Emile Hallez
Wells Fargo abandons plans to cut 401(k) match for high earners
PRACTICE MANAGEMENT OCT 23, 2020
Wells Fargo abandons plans to cut 401(k) match for high earners

The change comes just two days after the original cost-cutting measure was unveiled

By Jeff Benjamin
Auto-IRA states, AARP blast CalSavers lawsuit claims
RETIREMENT PLANNING OCT 23, 2020
Auto-IRA states, AARP blast CalSavers lawsuit claims

Oregon, Illinois and others are backing California in a legal attack on the state's auto-IRA system, while the Trump administration has taken the opposite side

By Emile Hallez
UBS taps Refinitiv data for adviser workstation
FINTECH OCT 23, 2020
UBS taps Refinitiv data for adviser workstation

The partnership builds on the $3.5 billion the wirehouse spends annually on technology investments

By Nicole Casperson
Adviser managing $300 million goes indie with Raymond James
INDEPENDENT BROKER DEALERS OCT 23, 2020
Adviser managing $300 million goes indie with Raymond James

Roark Head spins off his practice from Wedbush in Fairbanks, Alaska

By InvestmentNews
Wells Fargo said to discuss sale of asset management unit
WIREHOUSES OCT 23, 2020
Wells Fargo said to discuss sale of asset management unit

Selling the business could bring in more than $3 billion

By Bloomberg
Are free trades next for digital advice?
OPINION OCT 23, 2020
Are free trades next for digital advice?

Prominent digital providers have added zero-commission brokerage features in recent months — and billions in new assets

By Sean Allocca
Wells Fargo cuts 401(k) match for high earners, hurting advisers
PRACTICE MANAGEMENT OCT 22, 2020
Wells Fargo cuts 401(k) match for high earners, hurting advisers

"This is a loss of thousands of dollars," one adviser says

By Bruce Kelly
Securities America loses top executive to Carson Group
INDEPENDENT BROKER DEALERS OCT 22, 2020
Securities America loses top executive to Carson Group

The departure of Kevin Miller, formerly executive vice president, adds to a growing list of high-level employees to leave the firm in recent months

By Bruce Kelly
Senate Democrats urge SEC to scrap proposed boost in stock reporting threshold
REGULATION AND LEGISLATION OCT 22, 2020
Senate Democrats urge SEC to scrap proposed boost in stock reporting threshold

Lawmakers say SEC lacks authority to lift current $100 million ceiling and the change risks reducing transparency

By Mark Schoeff Jr.
Goldman hit with $2.9 billion fine in 1MDB case
REGULATION AND LEGISLATION OCT 22, 2020
Goldman hit with $2.9 billion fine in 1MDB case

CEO David Solomon and his predecessor, Lloyd Blankfein, will return some compensation as part of the deal

By Bloomberg
Former Wells Fargo manager alleges age, race, disability bias
PRACTICE MANAGEMENT OCT 22, 2020
Former Wells Fargo manager alleges age, race, disability bias

A 65-year-old Black executive in the bank's wealth and investment management arm filed a complaint after losing his job while on medical leave for cancer

By Bloomberg
LPL adds $350 million team after bank merger
INDEPENDENT BROKER DEALERS OCT 22, 2020
LPL adds $350 million team after bank merger

CenterState wealth management program includes eight advisers

By InvestmentNews
Betterment stacks impact investing as demand soars
FINTECH OCT 22, 2020
Betterment stacks impact investing as demand soars

The robo-adviser is just the latest money manager to address the accelerating investor appetite for a more sustainable approach to investing

By Nicole Casperson
UBS rolls out small-business 401(k) fiduciary program
RETIREMENT PLANNING OCT 22, 2020
UBS rolls out small-business 401(k) fiduciary program

The firm is also adding student-loan guidance for workplace wealth clients

By Emile Hallez
Empower Retirement posts $110 billion in new-client sales
RETIREMENT PLANNING OCT 22, 2020
Empower Retirement posts $110 billion in new-client sales

The No. 2 record keeper added smaller adviser-sold plans as well as megaplans

By InvestmentNews
401(k) record keepers near final stage of ‘consolidation curve’
RETIREMENT PLANNING OCT 21, 2020
401(k) record keepers near final stage of ‘consolidation curve’

There are lessons from numerous other industries that have gone through the full consolidation process

By Fred Barstein
CFP hopefuls slow to embrace remote exams
REGULATION AND LEGISLATION OCT 21, 2020
CFP hopefuls slow to embrace remote exams

Only 6% of 2,153 candidates who sat for the test in September exercised the option to take it from home

By Mark Schoeff Jr.
Fiduciary insurance costs soar amid new 401(k) litigation
RETIREMENT PLANNING OCT 21, 2020
Fiduciary insurance costs soar amid new 401(k) litigation

It is arguably a scary time to be a retirement plan sponsor, and many might forgo liability coverage

By Emile Hallez
Wirehouse advisers more productive than others, Cerulli finds
PRACTICE MANAGEMENT OCT 21, 2020
Wirehouse advisers more productive than others, Cerulli finds

Investing in technology seems to pay off, but greater staff support could help

By InvestmentNews