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Estimate for 2024 Social Security COLA drops with inflation
RETIREMENT PLANNING JUN 13, 2023
Estimate for 2024 Social Security COLA drops with inflation

The Senior Citizens League estimates that the cost-of-living adjustment to Social Security benefits could drop to 2.7% for 2024, down from the 2023 COLA of 8.7%. 

By Gregg Greenberg
Retirement ages around the world
RETIREMENT PLANNING JUN 13, 2023
Retirement ages around the world

As French citizens protest the government’s decision to boost the retirement age, we take a look at the age at which people can collect state retirement benefits in other countries.

By Gregg Greenberg
White House dismisses GOP tax cut plan as handout to wealthy
REGULATION AND LEGISLATION JUN 12, 2023
White House dismisses GOP tax cut plan as handout to wealthy

President Joe Biden's top economic adviser, Lael Brainard, signaled the White House is unwilling to entertain the GOP proposal, which would cut income and corporate taxes.

By Bloomberg
Tony Soprano's guide to a secure retirement
RETIREMENT PLANNING JUN 12, 2023
Tony Soprano's guide to a secure retirement

If things are getting better on the retirement front, or at the very least not getting worse, why all the glum faces?

By Gregg Greenberg
Wells Fargo adds sports and entertainment program
PRACTICE MANAGEMENT JUN 12, 2023
Wells Fargo adds sports and entertainment program

The firm cited the sports and entertainment accredited wealth management advisor designation rolled out in 2022 by the College for Financial Planning as a factor that will help advisors meet such clients' needs.

By Bruce Kelly
DOL has its say in court on ESG challenge
RETIREMENT PLANNING JUN 12, 2023
DOL has its say in court on ESG challenge

The plaintiffs and defendant recently filed cross motions for summary judgment of the challenge over the Labor Department's recently implemented ESG rule for retirement plans.

By Emile Hallez
House GOP tax package launches effort to pass reform legislation
REGULATION AND LEGISLATION JUN 12, 2023
House GOP tax package launches effort to pass reform legislation

The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.

By Mark Schoeff Jr.
New bull market doesn't take recession off the table
RIAS JUN 12, 2023
New bull market doesn't take recession off the table

Market watchers warn against falling for the head fake of a tech-driven stock market that isn't accurately reflecting broader economic risks.

By Jeff Benjamin
With Credit Suisse deal done, UBS sets team to lead wealth management
PRACTICE MANAGEMENT JUN 12, 2023
With Credit Suisse deal done, UBS sets team to lead wealth management

Veteran UBS wealth management executive Tom Naratil is not part of the new team, however.

By Bruce Kelly
Quakers divesting $17 million from Vanguard over climate change
ESG JUN 12, 2023
Quakers divesting $17 million from Vanguard over climate change

Earth Quaker Action Team is planning to announce the withdrawals this week at Vanguard's headquarters.

By Emile Hallez
ETF niche players combine to form nearly $8 billion suite of specialty funds
RIAS JUN 12, 2023
ETF niche players combine to form nearly $8 billion suite of specialty funds

Amplify ETFs is acquiring the assets of ETF Managers Group, bringing under one roof funds that offer exposure to marijuana, blockchain, artificial intelligence and more.

By Jeff Benjamin
$200 million team from Valic signs on with LPL
BROKER DEALERS JUN 12, 2023
$200 million team from Valic signs on with LPL

Rodney Van Buren and Whitney Colton have launched Van Buren Wealth Management in Melbourne, Florida.

By InvestmentNews
JPMorgan to pay $290 million to settle suit from Epstein victim
REGULATION AND LEGISLATION JUN 12, 2023
JPMorgan to pay $290 million to settle suit from Epstein victim

The firm reached an agreement to settle a proposed class action alleging that it knowingly benefited from former client Jeffrey Epstein's sex trafficking.

By Bloomberg
UBS completes Credit Suisse takeover, creating wealth management titan
WIREHOUSES JUN 12, 2023
UBS completes Credit Suisse takeover, creating wealth management titan

The closing of the deal allows UBS to move forward with the integration of its former rival, a process that's likely to involve thousands of job cuts.

By Bloomberg
'700 Club' founder Pat Robertson's death raises estate planning questions
RETIREMENT PLANNING JUN 09, 2023
'700 Club' founder Pat Robertson's death raises estate planning questions

The conservative religious leader and televangelist leaves behind a considerable estate and various nonprofit organizations.

By Emile Hallez
SEC warns advisors about disclosures for testimonials in exam alert
PRACTICE MANAGEMENT JUN 09, 2023
SEC warns advisors about disclosures for testimonials in exam alert

The SEC wants advisors to disclose whether the person who's touting them is a client, is being compensated or has any conflicts of interest.

By Mark Schoeff Jr.
Finra hits TD Ameritrade with $500,000 fine for disclosures on callable securities
REGULATION AND LEGISLATION JUN 09, 2023
Finra hits TD Ameritrade with $500,000 fine for disclosures on callable securities

TD Ameritrade self-reported the lack of disclosure, which occurred from January 2016 to June 2021, to Finra, according to the settlement.

By Bruce Kelly
Former Morgan Stanley advisor pleads guilty to ripping off own mother
WIREHOUSES JUN 09, 2023
Former Morgan Stanley advisor pleads guilty to ripping off own mother

Doug McKelvey of South Lake, Texas, misused at least $1.5 million of funds held in brokerage accounts belonging to clients that included his mother and another elderly family member. 

By Gregg Greenberg
$1.7 billion team exits Avidian to form new RIA affiliated with Hightower
RIAS JUN 09, 2023
$1.7 billion team exits Avidian to form new RIA affiliated with Hightower

Houston-based Presidio Wealth Partners is leaving with nearly half of Avidian's $4 billion in assets and aspires to reach $5 billion in five years.

By Jeff Benjamin
UBS CEO Ermotti predicts 'bumpy' months as Credit Suisse deal closes
WIREHOUSES JUN 09, 2023
UBS CEO Ermotti predicts 'bumpy' months as Credit Suisse deal closes

UBS will see its workforce, costs and balance sheet swell next week when the Credit Suisse deal likely closes, prompting it to weigh deep cuts to staffing levels and wind down riskier assets.

By Bloomberg