Advisor News

Displaying 26690 results
Millennium Trust enters HSA market with purchase of PayFlex
RETIREMENT PLANNING APR 05, 2022
Millennium Trust enters HSA market with purchase of PayFlex

The deal pushes Millennium up to 5 million individual client accounts and $47 billion of total assets under administration.

By Jeff Benjamin
Ex-BofA employees among 6 banned by Fed over Covid loan fraud
REGULATION AND LEGISLATION APR 05, 2022
Ex-BofA employees among 6 banned by Fed over Covid loan fraud

The Federal Reserve banned the former bank employees for fraudulently obtaining loans designed to provide economic relief to small businesses during the pandemic.

By Bloomberg
Wells Fargo agrees to pay $32.5 million to settle 401(k) lawsuit
REGULATION AND LEGISLATION APR 05, 2022
Wells Fargo agrees to pay $32.5 million to settle 401(k) lawsuit

The settlement, filed in U.S. District Court for the District of Minnesota, relates to the 401(k) plan's use of the bank's own offerings.

By InvestmentNews
The limits of value-at-risk models
OPINION APR 05, 2022
The limits of value-at-risk models

Amid the current market volatility, advisers should recognize that using value-at-risk models to assess portfolio risk is not a foolproof approach.

By Andy Aziz
Burt White moves from LPL to Carson Group
INDEPENDENT BROKER DEALERS APR 05, 2022
Burt White moves from LPL to Carson Group

As chief strategy officer, LPL's former chief investment officer will join the executive board and report directly to Ron Carson.

By Jeff Benjamin
10 IBDs with the highest average payouts
INDEPENDENT BROKER DEALERS APR 04, 2022
10 IBDs with the highest average payouts

See the IBDs where advisers took home the highest payouts in 2021, and how the numbers compare with the data from 2020.

By InvestmentNews
Supreme Court ruling could add uncertainty in Finra arbitration
REGULATION AND LEGISLATION APR 04, 2022
Supreme Court ruling could add uncertainty in Finra arbitration

Petitions to confirm or vacate awards are now more likely to be heard in state courts, where judges tend to be more skeptical of arbitration than their federal counterparts.

By Mark Schoeff Jr.
Our industry is not reading the room
OPINION APR 04, 2022
Our industry is not reading the room

Here are 5 steps financial advisers can take to promote diversity, inclusion and belonging.

By Dasarte Yarnway
The challenge of standing in a giant’s shadow
OPINION APR 04, 2022
The challenge of standing in a giant’s shadow

Which elements of a firm’s culture and principles that drove growth and which its visionary leader stood for and encouraged should be retained?

By InvestmentNews
Social Security rules when widows remarry
RETIREMENT PLANNING APR 01, 2022
Social Security rules when widows remarry

Survivor benefits can continue for those who wait until they're 60 to wed.

By Mary Beth Franklin
Court orders former investment adviser to pay $530,000 in fraud case
REGULATION AND LEGISLATION APR 01, 2022
Court orders former investment adviser to pay $530,000 in fraud case

Massachusetts adviser Richard Duncan got two clients to invest in a scam that originated in Turkey.

By InvestmentNews
Morningstar ranks best and worst robo-advisers
FINTECH APR 01, 2022
Morningstar ranks best and worst robo-advisers

The latest study from the financial services firm found that top advice-oriented providers offer fairly comprehensive planning tools, ranging from online advice only to one-on-one human financial advisers who are just a phone call away. 

By Sean Allocca
How Biden's billionaire tax would hit the wealthy
RETIREMENT PLANNING APR 01, 2022
How Biden's billionaire tax would hit the wealthy

Under Biden's plan, wealthy individuals would owe taxes on the unrealized gains of their assets, in addition to realized gains, a change that would upend long-standing tax principles.

By Bloomberg
Robinhood nears debut of retirement accounts
RETIREMENT PLANNING MAR 31, 2022
Robinhood nears debut of retirement accounts

The company has begun adding support for individual retirement accounts and Roth IRAs within its app, as well as pension accounts.

By Bloomberg
Court dismisses ERISA case against Principal
RETIREMENT PLANNING MAR 31, 2022
Court dismisses ERISA case against Principal

The judge says the insurer didn’t violate its fiduciary duty by retaining agreed-upon investments.

By InvestmentNews
Massachusetts judge strikes down state’s fiduciary rule
REGULATION AND LEGISLATION MAR 31, 2022
Massachusetts judge strikes down state’s fiduciary rule

Michael Kitces says Massachusetts chief securities regulator William Galvin misfired by trying to impose fiduciary duty on brokers. Robinhood celebrates its win.

By Mark Schoeff Jr.
Schwab launches direct indexing
FINTECH MAR 31, 2022
Schwab launches direct indexing

Schwab Personalized Indexing will bring the benefits of direct indexing, like better tax management and portfolio management capabilities, to a wider spectrum of investors and advisers.

By Sean Allocca
J.P. Morgan's remote advice offering takes shape
FINTECH MAR 31, 2022
J.P. Morgan's remote advice offering takes shape

J.P. Morgan hired Boaz Lahovitsky from Vanguard in 2020 to oversee the call center and video conferencing program.

By Bruce Kelly
LPL adds SMAs to model wealth platform
INDEPENDENT BROKER DEALERS MAR 31, 2022
LPL adds SMAs to model wealth platform

The addition permits advisers to create unified managed accounts for their clients.

By InvestmentNews
Morgan Stanley spins off $15 billion RIA business
RIA NEWS MAR 31, 2022
Morgan Stanley spins off $15 billion RIA business

The asset sale suggests Morgan Stanley won't be following some competing Wall Street firms that are migrating toward the RIA space.

By Jeff Benjamin