Advisor News

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ALTERNATIVES JUN 14, 2009
Arbitration settlement lands in insurer's lap

A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.

By Bruce Kelly
RETIREMENT PLANNING JUN 14, 2009
Affluent households ignore 529 plans, study says

Two-thirds of affluent parents with children under 18 aren't using Section 529 college savings plans, according to a report by The Phoenix Cos. Inc.

By Charles Paikert
LIFE INSURANCE AND ANNUITIES JUN 14, 2009
Changing regulations mean EIA compliance challenges

As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.

By Darla Mercado
RETIREMENT PLANNING JUN 14, 2009
Health reform debate overlooks long term care, Tom Daschle says

As Congress takes up health care reform, too little attention is being paid to long term care.

By Sara Hansard
RIA NEWS JUN 14, 2009
Two cheers for automatic IRA enrollment

Something must be done to encourage employees of small companies to save for retirement. As many as 78 million such workers aren't saving for the future and ultimately will depend solely on Social Security for retirement income.

By MFXFeeder
REGULATION AND LEGISLATION JUN 14, 2009
Former chief executive sues First Allied

Keith Gregg, former president and chief executive of First Allied Securities Inc. of San Diego, is suing the firm, claiming that he was forced out after complaining about improper practices at the company. Officials at the firm deny the charges and were set to answer the complaint and file a counterclaim against him today.

By Dan Jamieson
REGULATION AND LEGISLATION JUN 14, 2009
Outlook dim for adviser SRO in financial-reform proposal

The Obama administration's sweeping proposal to tighten financial regulation is unlikely to press for the formation of a self-regulatory organization to oversee investment advisers.

By Sara Hansard
FINTECH JUN 12, 2009
Laserfiche unveils new process management software

Laserfiche this week rolled out its Avante software solution that combines <a href="//www.investmentnews.com/apps/pbcs.dll/article?AID=/20080219/REG/685102440/1102/INTechnologyNews03&amp;ht=&quot;" target="&#8221;_blank&#8221;" rel="noopener noreferrer">document management</a> with work-flow automation tools, and e-mail archiving.

By Davis Janowski
REGULATION AND LEGISLATION JUN 11, 2009
Geithner calls for SEC authority over say-on-pay

The proposal would allow the SEC to issue rules requiring companies to give shareholders more say in executive compensation.

By Bloomberg
REGULATION AND LEGISLATION JUN 11, 2009
Woodbury Financial settles with regulators over adviser background checks

As part of a settlement last month with securities regulators in Arizona, Woodbury Financial Services Inc. agreed to tighten its policy of looking into the financial backgrounds of their 1,750 reps and advisers.

By Bruce Kelly
REGULATION AND LEGISLATION JUN 10, 2009
Leave exec compensation to boards, not lawmakers, SIFMA says

Executive compensation should decided by company boards, not imposed by legislators or regulators,

By Sara Hansard
REGULATION AND LEGISLATION JUN 09, 2009
Korean-American investors allegedly bilked of $80M in affinity fraud

Two California men and the companies they ran were charged today with conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of annual returns of up to 36% from foreign currency trading,

By Sara Hansard
REGULATION AND LEGISLATION JUN 09, 2009
Judge consolidates Madoff liquidation cases

Separate efforts to sell the businesses and personal property of disgraced financier Bernard Madoff have been combined to speed the process and get more of the proceeds to those he cheated.

By Bloomberg
RETIREMENT PLANNING JUN 09, 2009
Retirement assets plummeted in '08, ICI says

U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute.

By Sue Asci
RETIREMENT PLANNING JUN 08, 2009
Small businesses considering eliminating 401(k) match

While the majority of small businesses do not think the economy will affect their ability to offer a 401(k) retirement plan, 44% said they may have to reduce or stop matching employee contributions, according to a survey released today by Nationwide Financial Services Inc. of Columbus, Ohio.

By Sue Asci
REGULATION AND LEGISLATION JUN 08, 2009
Finra’s Ketchum touts one standard for financial advisers

The difference in regulatory oversight for broker-dealers and investment advisers leaves consumers open to risks, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today.

By Bloomberg
REGULATION AND LEGISLATION JUN 08, 2009
Finra chief: Proposed oversight commission could cause cracks in system

The Obama administration&#8217;s consideration of a safety commission for financial products needs to be approached with great care, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today at NAVA&#8217;s annual legislative and regulatory conference.

By Darla Mercado
RETIREMENT PLANNING JUN 07, 2009
Funding LTC insurance absent from cliets' to-do list

Advisers are struggling to get clients &#x2014; especially baby boomers &#x2014; to think about funding long term care in the face of depleted investment portfolios.

By Darla Mercado
OPINION JUN 07, 2009
How deep is the investment canyon?

On a recent trip to Singapore, my wife and I took a cable car ride between two islands.

By Brad McMillan
OPINION JUN 07, 2009
SEC's Aguilar urges fiduciary standard

In my last Fiduciary Corner column, I wrote about the significant benefits that would result if, as a result of regulatory reform, all who provide financial advice &#8212; including broker-dealer representatives &#8212; are held to the fiduciary standard of care established under current laws.

By Blaine F. Aikin