Advisor News

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Team managing $221 million joins Woodbury from Raymond James
INDEPENDENT BROKER DEALERS JUN 02, 2021
Team managing $221 million joins Woodbury from Raymond James

The trio of advisers operates as Compass Wealth Solutions and is based in Portland, Indiana.

By InvestmentNews
If rates stay low, expect retirement security to take a hit
RETIREMENT PLANNING JUN 02, 2021
If rates stay low, expect retirement security to take a hit

Some of the factors that have led to the current low-interest-rate environment could remain in play for years, according to an analysis of existing research recently published by the Society of Actuaries.

By Emile Hallez
Advisers blast Biden's retroactive capital gains proposal
REGULATION AND LEGISLATION JUN 02, 2021
Advisers blast Biden's retroactive capital gains proposal

The effective date for the capital gains tax hike would be April 28, 2021, when the American Families plan was introduced, according to the Treasury Department’s Greenbook, a compendium of revenue proposals for fiscal 2022 that was released with the administration's $6 trillion budget proposal in May.

By Mark Schoeff Jr.
T. Rowe Price introduces plan tool for retirement income
RETIREMENT PLANNING JUN 02, 2021
T. Rowe Price introduces plan tool for retirement income

The goal is to help plan sponsors assess the possibilities more strategically

By InvestmentNews
Patrick Murphy steps down as CEO of John Hancock Retirement
RETIREMENT PLANNING JUN 02, 2021
Patrick Murphy steps down as CEO of John Hancock Retirement

Sue Reibel, who joined Hancock’s parent firm in 1994, will be named chief executive of the firm and was most recently the global head of Manulife Investment Management retirement.

By Emile Hallez
SEC charges former Massachusetts adviser with fraud
INDEPENDENT BROKER DEALERS JUN 02, 2021
SEC charges former Massachusetts adviser with fraud

James Couture was discharged by LPL in June 2020 and barred by Finra last October.

By InvestmentNews
Trio managing $10.5 billion moves to UBS
PRACTICE MANAGEMENT JUN 02, 2021
Trio managing $10.5 billion moves to UBS

The six-person team is leaving J.P. Morgan Private Bank in San Francisco.

By InvestmentNews
Senators propose penalty-free emergency 401(k) taps
RETIREMENT PLANNING JUN 01, 2021
Senators propose penalty-free emergency 401(k) taps

Once-a-year withdrawals from retirement plans or IRAs would have to be paid back before additional borrowing could occur.

By InvestmentNews
DOL is pursuing fewer cases — but much bigger payouts
RETIREMENT PLANNING JUN 01, 2021
DOL is pursuing fewer cases — but much bigger payouts

Last year, the Department of Labor closed less than a third of the number of cases it did in 2014, but total recoveries were six times higher.

By Emile Hallez
Finra used 2020 fines to bolster market surveillance, exams, enforcement
REGULATION AND LEGISLATION JUN 01, 2021
Finra used 2020 fines to bolster market surveillance, exams, enforcement

Last year, Finra allocated $73.8 million of fine and reserve monies to fund capital initiatives and $16.4 million to pay for investor education and firm compliance.

By Mark Schoeff Jr.
More advisers are planning to use crypto: FPA
FINTECH JUN 01, 2021
More advisers are planning to use crypto: FPA

More than a quarter of advisers indicated that they plan to increase their use or recommendation of cryptocurrencies over the next 12 months.

By Nicole Casperson
Why advisers are sacrificing momentum to change firms
OPINION JUN 01, 2021
Why advisers are sacrificing momentum to change firms

It seems counterintuitive that an adviser or team who may be riding the wave of their 'best year ever' would change jerseys or break for independence. Yet it’s happening in record numbers.

By Louis Diamond
The inflation conversation
OPINION MAY 31, 2021
The inflation conversation

By failing to adequately explain how inflation, compounded over time, significantly reduces our spending power, we leave clients vulnerable to the false assumption that the income they have today will still be adequate in 10 or 20 years.

By Sarah Newcomb
Biden tax plan forecast to bring in $3.6T in decade
REGULATION AND LEGISLATION MAY 28, 2021
Biden tax plan forecast to bring in $3.6T in decade

The biggest surprise in Biden’s tax proposal is that it assumes an increase in the capital gains rate would be retroactive to April 2021, which would prevent wealthy people from selling off their assets quickly to avoid the hike.

By Bloomberg
Fintech Stash weighs options for going public
FINTECH MAY 28, 2021
Fintech Stash weighs options for going public

The robo-adviser raised $125 million in a February funding round, for a $1.4 billion valuation.

By Bloomberg
Finra withdraws expungement reform proposal
REGULATION AND LEGISLATION MAY 28, 2021
Finra withdraws expungement reform proposal

The measure, which would have established a special roster of arbitrators to hear broker requests to clear their records, was criticized by PIABA as being too limited to address the problem.

By Mark Schoeff Jr.
State Street sued over 401(k); Columbia settles for $13 million
RETIREMENT PLANNING MAY 28, 2021
State Street sued over 401(k); Columbia settles for $13 million

The State Street plan did not include the lowest-cost share classes of the Target Retirement Securities Lending series, and there were some options from third parties with stronger performance records, according to the complaint.

By Emile Hallez
Older clients confused by meme stocks: Survey
FINTECH MAY 28, 2021
Older clients confused by meme stocks: Survey

Investors are curious about crypto and meme stocks, but most advisers say that clients do not understand the volatility of these investments.

By Nicole Casperson
Texas legislature passes anti-ESG bill
RETIREMENT PLANNING MAY 28, 2021
Texas legislature passes anti-ESG bill

If the governor signs the bill, the state's six public pension funds would be prohibited from investing in financial products that boycott energy companies.

By InvestmentNews
Goldman wins exemption from Labor Department's pension overseer
RETIREMENT PLANNING MAY 28, 2021
Goldman wins exemption from Labor Department's pension overseer

The Employee Benefits Security Administration gives the firm a green light to oversee retirement plan assets despite its 1MDB misdeeds

By InvestmentNews