Since 2017, the firm has been on the hook for $16 million in legal settlements and restitution to clients, with the lion's share stemming from one broker's sale of alternative investments to a Native American tribe in Michigan.
More and more of the industry's clients are women, and the share of global wealth controlled by women is increasing.
Personal information used to cross-sell other services is not a plan asset, a court found. Two new 401(k) lawsuits were also filed against Icon Clinical Research and Wesco Distribution.
Errors in computer-generated reports on mutual funds lead to a classic Twitter dust-up in which a disgruntled fund manager challenged the company's analysis of his funds.
Dan Berkovitz, a Democratic commissioner on the Commodity Futures Trading Commission, blasted his own agency for taking too light a touch with the investment funds.
Five-person Adapt Partners is joining Rockefeller in San Antonio
The SEC and other regulators want to keep firms and advisers on their toes — and toeing the line.
There's a sense of urgency to make moves to take advantage of today's low tax rates because they may be going up soon. A $2.3 trillion package contains a proposal to increase the corporate tax rate from 21% to 28%.
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers. That makes the present a very good time to consider becoming part of a larger firm.
Arnerich Massena is shedding retirement assets to focus on private wealth management, endowments and foundations.
The flipside of the new Innovator Capital Management products is the performance is capped and they can be more expensive than some of the cheaper indexed options.
Pacific Investment Consultants is based in Folsom, California.
In the final part of a three-part series, the authors examine planning's role in the changing preferences of next-generation clients.
The deal will add more than $1 billion to Beacon Pointe's assets under management.
“Mega teams” with the scale to grow, greater diversity, sophisticated tools and the flexibility to adapt to any environment will lead the way.
Not having a retirement income solution within a DC plan is like having the pilots on a commercial flight parachute off midflight, forcing passengers to land the plane.
The companies are concerned about bias on the arbitration panel. But an attorney for the claimants said the two failed to warn investors of red flags detected in their accounts.
In the past week alone, at least three PEPs have been announced. Those include plans from American Trust, Access Retirement Solutions and a new entity from venture capital firm Magis Capital Partners, Sallus Retirement.
The deal for the Pittsburgh-based investment boutique adds $400 million to Boenning's assets under management.
The two asset management giants were among 43 firms with more than $22.8 trillion of assets that signed onto the Net Zero Asset Managers initiative.
