Advisor News

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SEC considers whether to increase oversight of model portfolio, index, pricing service providers
REGULATION AND LEGISLATION JUN 21, 2022
SEC considers whether to increase oversight of model portfolio, index, pricing service providers

The agency has released a request for public comment to assess whether they're offering investment advice rather than just information and should be regulated as advisers.

By Mark Schoeff Jr.
Hub acquires $205 million Pennsylvania RIA
RIA NEWS JUN 21, 2022
Hub acquires $205 million Pennsylvania RIA

Michael Finnell, president of Heritage Wealth Management Group, and the Heritage team will join Hub.

By InvestmentNews
Value of a financial adviser clear, questions remain about Social Security: Study
RETIREMENT PLANNING JUN 21, 2022
Value of a financial adviser clear, questions remain about Social Security: Study

Planning with the assistance of a professional helps retirees feel more confident, but there's still uncertainty about Social Security benefits.

By Gregg Greenberg
Classic 60/40 strategy set for worse quarter than in 2008
RETIREMENT PLANNING JUN 20, 2022
Classic 60/40 strategy set for worse quarter than in 2008

With stocks and Treasuries tumbling anew amid the Fed's hawkish moves, the time-honored allocation has plunged about 14% so far this quarter.

By Bloomberg
A bear market is not the time to hibernate
RIA NEWS JUN 20, 2022
A bear market is not the time to hibernate

In the turmoil and economic uncertainty surrounding a bear market, guidance from a trusted financial adviser is more valuable than ever.

By InvestmentNews
Fintech Bytes: Vise, CapIntel and Morningstar
FINTECH JUN 17, 2022
Fintech Bytes: Vise, CapIntel and Morningstar

Fintech companies are responding to the first bear market many have experienced. Here are the rest of the week's fintech stories.

By Ryan W. Neal
SEC returns to full strength, not yet full speed
REGULATION AND LEGISLATION JUN 17, 2022
SEC returns to full strength, not yet full speed

The Senate confirmed Jaime Lizárraga, who fills the Democratic seat of departing Commissioner Allison Herren Lee, and Mark Uyeda, who replaces former Republican Commissioner Elad Roisman.

By Mark Schoeff Jr.
Pershing launches next-gen NetX360 at annual adviser conference
FINTECH JUN 16, 2022
Pershing launches next-gen NetX360 at annual adviser conference

BNY Mellon Pershing revealed the next generation of its wealth management technology at its annual INSITE conference this week in Grapevine, Texas.

By Ryan W. Neal
Beware of incorrect advice about claiming Social Security benefits
RETIREMENT PLANNING JUN 16, 2022
Beware of incorrect advice about claiming Social Security benefits

Filing for benefits online can help individuals avoid faulty guidance from well-meaning Social Security Administration reps.

By Mary Beth Franklin
Fintech startups tighten belts, bracing for extended bear market
FINTECH JUN 16, 2022
Fintech startups tighten belts, bracing for extended bear market

Tifin laid off 10% of its workforce this month in response to the market environment, and it isn't alone.

By Ryan W. Neal
SEC takes first substantive Reg BI enforcement action
REGULATION AND LEGISLATION JUN 16, 2022
SEC takes first substantive Reg BI enforcement action

Investor advocates differ on whether the case against brokers selling risky bonds — L bonds offered by GWG Holdings — fulfills Reg BI's investor-protection promises.

By Mark Schoeff Jr.
New LPL program gives advisers more tools to attract, serve the rich
RIA NEWS JUN 16, 2022
New LPL program gives advisers more tools to attract, serve the rich

The Private Client Service Network will help select LPL advisers assist their clients with such tasks as the sale of small or midsize businesses; hedging concentrated stock positions; and specialty lending.

By Jeff Benjamin
Investors willing to sacrifice returns for ESG goals
RETIREMENT PLANNING JUN 16, 2022
Investors willing to sacrifice returns for ESG goals

Betterment survey also finds sustainable options would lead 401(k) participants to contribute more.

By Emile Hallez
Billion-dollar Merrill trio bolts for Cetera
INDEPENDENT BROKER DEALERS JUN 15, 2022
Billion-dollar Merrill trio bolts for Cetera

The three advisers are setting up shop as Harvest Wealth in the Maryland suburbs of Washington.

By InvestmentNews
Top Democrat seeks probe on crypto use in retirement accounts
RETIREMENT PLANNING JUN 15, 2022
Top Democrat seeks probe on crypto use in retirement accounts

Rep. Richard Neal, chairman of the House Ways and Means Committee, asked the Government Accountability Office to assess the use of cryptocurrency investments in 401(k) plans.

By Bloomberg
How to prepare your clients for 401(k) statement shock
RETIREMENT PLANNING JUN 15, 2022
How to prepare your clients for 401(k) statement shock

With 401(k) savers likely to be getting some unpleasant news in their next statement, their financial advisers might want to reach out in advance.

By Gregg Greenberg
Senate GOP proposal offers investment tax relief to fight inflation
REGULATION AND LEGISLATION JUN 15, 2022
Senate GOP proposal offers investment tax relief to fight inflation

The bill would more than double the 0% tax bracket for long-term capital gains and dividends, but its political prospects in the Democratic-controlled Congress are cloudy.

By Mark Schoeff Jr.
Another former head of Wells Fargo Advisors leaves the bank
PRACTICE MANAGEMENT JUN 15, 2022
Another former head of Wells Fargo Advisors leaves the bank

David Kowach is the second senior Wells Fargo executive with deep ties to wealth management to retire in the past two months.

By Bruce Kelly
SEC’s Goldman, BNY moves hint at more ESG investigations
REGULATION AND LEGISLATION JUN 15, 2022
SEC’s Goldman, BNY moves hint at more ESG investigations

The latest developments follow notices the agency released last year around ESG enforcement.

By Emile Hallez
Wells team managing $630 million goes indie with Raymond James
INDEPENDENT BROKER DEALERS JUN 15, 2022
Wells team managing $630 million goes indie with Raymond James

Four advisers in Columbia, South Carolina, form Vision Wealth Advisors.

By InvestmentNews