Advisor News

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OPINION JUL 30, 2009
Fire, reload, Re-Hire

Wow, I read this morning that Merrill Lynch has already started aggressively hiring trainee Financial Advisors

By Danny Sarch
FINTECH JUL 29, 2009
Interactive Advisory Software partners with MoneyGuidePro

One of the most popular goal-based financial planning products available for advisers, MoneyGuidePro, has been integrated with Interactive Advisory Software Inc., a comprehensive, cash-flow based system.

By Davis Janowski
REGULATION AND LEGISLATION JUL 29, 2009
Surprise! Audits could cost up to $24,000 per pop

If a Securities and Exchange Commission proposal that advisers deducting fees from client accounts conduct annual surprise audits is enacted, such audits could cost as much as $24,000 apiece, some three times the $8,000 estimated by the SEC, according to the Financial Planning Association.

By Sara Hansard
OPINION JUL 28, 2009
Whatever happened to confidentiality?

By Danny Sarch
RETIREMENT PLANNING JUL 28, 2009
55- to 64-year-olds most likely to have health insurance in '07, EBRI study says

Adults 55 to 64 were most likely to have health care coverage in 2007, according to a study from the Employee Benefits Research Institute.

By Bloomberg
REGULATION AND LEGISLATION JUL 27, 2009
Compensation reform not aimed at brokers, says Frank

The so-called say-on-pay legislation that the House Financial Services Committee is scheduled to act on tomorrow will apply to top brokerage executives, not stockbrokers, Committee Chairman Barney Frank, D-Mass., said today.

By Sara Hansard
REGULATION AND LEGISLATION JUL 26, 2009
Fodder for Congress

The effect of stock market volatility on families' retirement savings is just one issue that Congress should be concerned about, according to a report issued July 14 by the Congressional Research Service in Washington.

By Sara Hansard
LIFE INSURANCE AND ANNUITIES JUL 26, 2009
ACLI concerned about disability insurance program

The American Council of Life Insurers is worried about efforts to establish a voluntary disability in-surance program.

By Sara Hansard
RETIREMENT PLANNING JUL 26, 2009
IRS kills 72(t) payment correction request

The Internal Revenue Service recently ruled that an improper transfer of funds from an individual retirement account from which the client was taking 72(t) payments triggered the 10% early-withdrawal penalty.

By MFXFeeder
LIFE INSURANCE AND ANNUITIES JUL 26, 2009
SEC's EIA rule may resurface

The Securities and Exchange Commission will likely reissue a rule that classifies equity index annuities as securities and subjects them to federal oversight.

By Sara Hansard
REGULATION AND LEGISLATION JUL 26, 2009
Reform efforts on compensation aim at industry

Tucked into proposed legislation that would place new compensation regulations on top corporate executives, Rep. Barney Frank, D-Mass., has specifically called for financial institutions to adhere to stricter executive pay programs that could potentially be subject to government approval.

By Mark Bruno
RETIREMENT PLANNING JUL 26, 2009
Analysts assess winners and losers in health care reform

Depending on the outcome of health care reform, investment opportunities could be found in a variety of related sectors, including pharmaceuticals, biotechnology and even certain insurers.

By Darla Mercado
REGULATION AND LEGISLATION JUL 24, 2009
Geithner, Bernanke clash over consumer financial protection agency

The case for the proposed consumer financial protection agency is clear, Treasury Secretary Timothy Geithner told Congress today — but not to Federal Reserve Chairman Ben Bernanke.

By Sara Hansard
FINTECH JUL 24, 2009
Covestor launches retail multimanaged accounts

The people that brought the world Covestor.com, a portfolio-sharing service for do-it-yourself investors and for those wishing to track them, have launched the Covestor Investment Management multimanaged account, or CVIM MMA for short.

By Davis Janowski
OPINION JUL 23, 2009
Myths, lies and recruiting truisms

Veteran recruiter Danny Sarch kicks off his exclusive <i>InvestmentNews</i> blog by debunking what passes for conventional wisdom in the world of broker and adviser hiring.

By Danny Sarch
REGULATION AND LEGISLATION JUL 23, 2009
New law adds requirements for CPAs who practice in New York

Certified public accountants who practice in New York &#8212; even if they are licensed in other states &#8212; will have to register with the New York State Education Department Office of the Professions when a new law goes into effect July 26.

By Bloomberg
REGULATION AND LEGISLATION JUL 23, 2009
SEC, FDIC heads want new council to be supercop

Key regulators on today broke with the Obama administration, reaffirming their belief that some new powers to monitor big institutions against financial threats should go to an interagency council not the Federal Reserve.

By Bloomberg
Retirement plans not targets of proposed panel, Frank says
REGULATION AND LEGISLATION JUL 22, 2009
Retirement plans not targets of proposed panel, Frank says

Concerns that a new consumer watchdog agency proposed by the Obama administration could play a role in overseeing retirement plan products are unfounded, Rep. Barney Frank, D-Mass., said today at a press conference on Capitol Hill.

By Doug Halonen
RETIREMENT PLANNING JUL 22, 2009
For young couples, renting may be a better option

Slumping home prices and financial incentives may make homeownership all the more tantalizing for young newlyweds, but advisers warn that renting may be the smarter choice.

By Darla Mercado
RETIREMENT PLANNING JUL 22, 2009
Workplace planning boost is one upside of the downturn

The financial crisis is helping to boost financial planning in the workplace.

By Charles Paikert