Advisor News

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Top Cambridge advisers bolt in wake of private partnership dispute
INDEPENDENT BROKER DEALERS AUG 12, 2016
Top Cambridge advisers bolt in wake of private partnership dispute

A side firm has brought a Finra arbitration claim against five of the advisers, who have filed a counterclaim in federal court.

By Bruce Kelly
Donald Trump in Detroit speech offers revised tax plan and curb on regulations
REGULATION AND LEGISLATION AUG 12, 2016
Donald Trump in Detroit speech offers revised tax plan and curb on regulations

The Republican nominee is trying to reset his presidential campaign after a string of missteps.

By Bloomberg
INDEPENDENT BROKER DEALERS AUG 11, 2016
Stifel to acquire Indiana underwriter, wealth manager

City Financial Corp., which is being acquired by Stifel, is an independent investment bank focused on wealth management and municipal underwriting in the Midwest.

By Bruce Kelly
REGULATION AND LEGISLATION AUG 11, 2016
Camardas want documents unsealed for appeal of fee-only case against CFP Board

A hearing is set for Wednesday; the adviser couple says the documents show the organization singled them out for discipline in use of compensation label.

By Mark Schoeff Jr.
Millennials are freaking out about retirement — but not doing much about it
RETIREMENT PLANNING AUG 11, 2016
Millennials are freaking out about retirement — but not doing much about it

Despite the best of intentions, young workers aren't saving enough.

By Bloomberg
Even popular changes to DOL fiduciary rule are proving problematic
PRACTICE MANAGEMENT AUG 11, 2016
Even popular changes to DOL fiduciary rule are proving problematic

Revised revenue allowances and other adjustments, originally praised by advisers, are turning out to be less advantageous than expected.

By Liz Skinner
Emory University sued in latest fiduciary-breach suit
REGULATION AND LEGISLATION AUG 11, 2016
Emory University sued in latest fiduciary-breach suit

The lawsuit alleges the university and a university-affiliated health system breached their fiduciary duties by causing participants in their 403(b) plans to pay excessive fees.

By Meaghan Kilroy
SEC charges San Francisco adviser with stealing money from client
RIA NEWS AUG 11, 2016
SEC charges San Francisco adviser with stealing money from client

Nicholas Mitsakos and Matrix Capital Markets pretended to manage millions, SEC alleges.

By Christine Idzelis
RETIREMENT PLANNING AUG 11, 2016
Here's why your net worth might really be negative

Add up all your possessions — cash, property, retirement accounts — and subtract all your debts, and you could end up in the red.

By Bloomberg
Harmonizing multiple fiduciary standards should be priority
REGULATION AND LEGISLATION AUG 11, 2016
Harmonizing multiple fiduciary standards should be priority

Regulators should coordinate these different standards as soon as possible to minimize confusion for investors.

By Bloomberg
Finra panel directs broker to pay Wells Fargo almost $1 million after his termination
PRACTICE MANAGEMENT AUG 11, 2016
Finra panel directs broker to pay Wells Fargo almost $1 million after his termination

Robert Edward Loftus was discharged in 2013 and found in breach of a promissory note

By Christine Idzelis
Social Security Administration steps up privacy protections
RETIREMENT PLANNING AUG 11, 2016
Social Security Administration steps up privacy protections

Online users now require cell phone for text message verification.

By Mary Beth Franklin
Active ETFs produce few stars and even fewer fans
EQUITIES AUG 11, 2016
Active ETFs produce few stars and even fewer fans

Mutual fund firms move defensively toward active ETFs.

By Jeff Benjamin
WIREHOUSES AUG 11, 2016
Wells Fargo's Mary Mack moving to a new post

Head of bank's brokerage will now be in charge of community banking.

By Christine Idzelis
XY Planning Network on the hunt for innovative financial adviser technology for young clients
FINTECH AUG 11, 2016
XY Planning Network on the hunt for innovative financial adviser technology for young clients

Young advisers want more technology suitable for student loans, cash flow and debt management.

By Alessandra Malito
INDEPENDENT BROKER DEALERS AUG 11, 2016
Inside the death of the regional broker-dealer

Many have either been acquired or are trying to become national firms.

By Bruce Kelly
ALTERNATIVES AUG 10, 2016
DOL fiduciary rule's unintended consequence: higher fees for investors

As broker-dealers move toward uniform commissions to comply with Labor Department rule, investors could end up paying higher prices than in an unregulated environment. <b><i>(More: <a href=&quot;http://www.investmentnews.com/section/fiduciary-focus&quot; target=&quot;_blank&quot;>The DOL rule from all angles</a>)</i></b>

By Bruce Kelly
DOL issues final rule to help states establish workplace retirement savings programs
RETIREMENT PLANNING AUG 10, 2016
DOL issues final rule to help states establish workplace retirement savings programs

State plans would not be subject to ERISA, which some in the industry fear will give them a leg up on private plans.

By Mark Schoeff Jr.
Finra bars former Independent Financial Group broker for failing to disclose trading accounts
PRACTICE MANAGEMENT AUG 10, 2016
Finra bars former Independent Financial Group broker for failing to disclose trading accounts

Brian James Egan agreed to be barred from the brokerage industry.

By Christine Idzelis
Finra fines Cetera $75,000 for records snafu
INDEPENDENT BROKER DEALERS AUG 10, 2016
Finra fines Cetera $75,000 for records snafu

Brokerage firm failed to notify customers of changes in their account records as a result of a computer coding error, regulator claims.

By Bloomberg