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The college admissions scandal and the unwarranted reputation of top-tier schools
INDUSTRY NEWS MAR 15, 2019
The college admissions scandal and the unwarranted reputation of top-tier schools

From my standpoint, the education such colleges and universities provide is different, not better.

By Carolyn McClanahan
Envestnet MoneyGuide deal will have a massive impact on the advice industry
FINTECH MAR 15, 2019
Envestnet MoneyGuide deal will have a massive impact on the advice industry

Transaction leaves two big players in the market for financial planning software, Envestnet MoneyGuide and Fidelity's eMoney.

By Ryan W. Neal
Indexed universal life insurance sales continue hot streak
LIFE INSURANCE AND ANNUITIES MAR 15, 2019
Indexed universal life insurance sales continue hot streak

Sales broke a record last year despite rules that observers believed would slow them down.

By Greg Iacurci
Morgan Stanley team managing $240 million leaves for Raymond James
INDUSTRY NEWS MAR 14, 2019
Morgan Stanley team managing $240 million leaves for Raymond James

Gregory Stevens and Vince Spires join employee unit in Ocala, Fla.

By Bloomberg
Sweeping Ed Butowsky lawsuit takes on 'left-wing media bias'
RIAS MAR 14, 2019
Sweeping Ed Butowsky lawsuit takes on 'left-wing media bias'

Texas financial adviser claims'false allegations' by New York Times, CNN, Turner Broadcasting and Democratic National Committee 'upended' his life and business

By Jeff Benjamin
Wells Fargo CEO Tim Sloan gets 5.7 percent pay boost, $2 million bonus
PRACTICE MANAGEMENT MAR 14, 2019
Wells Fargo CEO Tim Sloan gets 5.7 percent pay boost, $2 million bonus

He received $2.4 million in salary and $14 million of restricted stock linked to performance goals.

By Bloomberg
Investment bank launches digital loan platform for advisers
RIAS MAR 14, 2019
Investment bank launches digital loan platform for advisers

SkyView Partners says 16 banks currently have access to online marketplace.

By InvestmentNews
Wedbush to pay $250,000 penalty to settle SEC charges
REGULATION AND LEGISLATION MAR 14, 2019
Wedbush to pay $250,000 penalty to settle SEC charges

Firm also censured for ignoring 'red flags' of pump-and-dump scheme.

By InvestmentNews
House Democrats call on SEC to strengthen Regulation Best Interest
REGULATION AND LEGISLATION MAR 14, 2019
House Democrats call on SEC to strengthen Regulation Best Interest

At subcommittee hearing Thursday, congress members express concerns about investor protection under agency's advice reform proposal.

By Mark Schoeff Jr.
Ameriprise getting ready to launch its bank
INDUSTRY NEWS MAR 14, 2019
Ameriprise getting ready to launch its bank

Firm's advisers will soon have access to lending products such as mortgages.

By Bruce Kelly
Genworth move could signal big shift in distribution of long-term-care insurance
RETIREMENT PLANNING MAR 14, 2019
Genworth move could signal big shift in distribution of long-term-care insurance

Insurers may turn to direct-to-consumer sales only, bypassing brokers and insurance agents.

By Greg Iacurci
Wealth managers ignore 401(k) plans at their peril
RETIREMENT PLANNING MAR 14, 2019
Wealth managers ignore 401(k) plans at their peril

Wealth managers may scoff at 401(k) clients, but they become susceptible to losing current clients as a result.

By Fred Barstein
Be sure your clients use nondeductible IRA contributions correctly
RETIREMENT PLANNING MAR 14, 2019
Be sure your clients use nondeductible IRA contributions correctly

Advisers need to help their clients avoid common tax mistakes that can complicate things later in life.

By Tim Steffen
Envestnet acquires MoneyGuide for $500 million
FINTECH MAR 14, 2019
Envestnet acquires MoneyGuide for $500 million

Deal will allow Envestnet to deepen integrations between MoneyGuide and its other wealth management solutions.

By Ryan W. Neal
Brown University settles 403(b) lawsuit for $3.5 million
RETIREMENT PLANNING MAR 13, 2019
Brown University settles 403(b) lawsuit for $3.5 million

Brown is one of a handful of universities to settle claims over alleged retirement plan mismanagement.

By Greg Iacurci
Brookfield buys Oaktree to build an alternatives giant
ALTERNATIVES MAR 13, 2019
Brookfield buys Oaktree to build an alternatives giant

The deal produces a combination that can rival Blackstone Group.

By Bloomberg
Mortgage industry seeks to revive most hated loan in America
RETIREMENT PLANNING MAR 13, 2019
Mortgage industry seeks to revive most hated loan in America

Replacing actors such as Tom Selleck in TV ads, academics with interests in the industy are putting a positive spin on reverse mortgages.

By Bloomberg
First Republic snags another Wall Street veteran, this time from J.P. Morgan
INDUSTRY NEWS MAR 13, 2019
First Republic snags another Wall Street veteran, this time from J.P. Morgan

Michael S. Lee will run the New York territory for First Republic's wealth management business.

By Bruce Kelly
Morgan Stanley threatens to pull out of Nevada over state's fiduciary rule
REGULATION AND LEGISLATION MAR 13, 2019
Morgan Stanley threatens to pull out of Nevada over state's fiduciary rule

Wirehouse says it would not be able to work there under state's current proposal.

By Bruce Kelly
Advisers see college admissions scandal as tip of the iceberg
RIAS MAR 13, 2019
Advisers see college admissions scandal as tip of the iceberg

Parents' conduct is described as 'disgusting' but not surprising given the current state of higher education.

By Jeff Benjamin