Advisor News

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Labor Department's ESG proposal attracts ire from the anti-'woke'
RETIREMENT PLANNING DEC 14, 2021
Labor Department's ESG proposal attracts ire from the anti-'woke'

The agency received a trove of public comments on its proposed ESG changes, and many were penned by people concerned about a perceived liberal agenda.

By Emile Hallez
Planswell opens up free financial planning tech to advisers
FINTECH DEC 14, 2021
Planswell opens up free financial planning tech to advisers

A relaunch in 2020 has allowed the company to pivot to serving financial advisers, which is a more sustainable business model, according to CEO Eric Arnold.

By Sean Allocca
Hub acquires $3.4 billion plan consultant
RETIREMENT PLANNING DEC 14, 2021
Hub acquires $3.4 billion plan consultant

The principals of GRP Financial California will join Hub’s private wealth business.

By InvestmentNews
That student loan crisis is about to get real, again
RETIREMENT PLANNING DEC 14, 2021
That student loan crisis is about to get real, again

Federal student loan borrowers have been clear that they are in no shape to start making payments again.

By Emile Hallez
Prospera leaps into the acquisition game with Dorsey deal
RIA NEWS DEC 14, 2021
Prospera leaps into the acquisition game with Dorsey deal

With just two deals under its belt after nearly 40 years in the business, the $16 billion Dallas broker-dealer and RIA is ready to become more active in the M&A space.

By Jeff Benjamin
Rich business owners rethink retirement amid pandemic
RETIREMENT PLANNING DEC 14, 2021
Rich business owners rethink retirement amid pandemic

More than half of the individuals and families surveyed by BNP Paribas and Aon said they're altering the timetable for stepping away from their companies, with 41% delaying or phasing more slowly into a move.

By Bloomberg
Wealth management platforms as collaboration tools
OPINION DEC 14, 2021
Wealth management platforms as collaboration tools

The pandemic has sparked growth in collaboration tools, but for financial services firms, an enterprise-focused wealth management platform is an equally important part of solving the collaboration puzzle.

By Andy Aziz
Robinhood plans crypto gifting feature
ALTERNATIVES DEC 14, 2021
Robinhood plans crypto gifting feature

Users will be able to send cryptocurrency via digital gift cards, according to code discovered in a beta version of the company's iPhone app.

By Bloomberg
401(k) adviser M&A doubles last year's record
RETIREMENT PLANNING DEC 13, 2021
401(k) adviser M&A doubles last year's record

There will likely be at least 70 deals for retirement adviser firms before the end of the year, according to Wise Rhino Group.

By Emile Hallez
Hub notches 2 more benefits acquisitions
RETIREMENT PLANNING DEC 10, 2021
Hub notches 2 more benefits acquisitions

Hub is acquiring assets from Libertyville, Illinois-based Benefit Partners Group and Gold Sky Benefits.

By Emile Hallez
Advisers can't find information online from asset managers: J.D. Power
FINTECH DEC 10, 2021
Advisers can't find information online from asset managers: J.D. Power

Just three of the 14 companies surveyed — BlackRock Inc., Capital Group Inc. and J.P. Morgan & Co. — received top marks in the 20th percentile, according to the research.

By Sean Allocca
Energy firm Exelon sued over 401(k)
RETIREMENT PLANNING DEC 10, 2021
Energy firm Exelon sued over 401(k)

Law firms representing the plaintiffs cite fiduciary failures in moving to in-house funds and high fees for record keeping and managed accounts.

By Emile Hallez
Going fee-only can be catalyst for growth
OPINION DEC 10, 2021
Going fee-only can be catalyst for growth

Factors driving the expansion in fee-only advisers include clients' and prospects' interest in having an adviser who's a fiduciary and advisers' interest in having a simpler story to tell clients.

By Kristine McManus
What a year for broker-dealers and their advisers
REGULATION AND LEGISLATION DEC 10, 2021
What a year for broker-dealers and their advisers

Record highs for B-Ds in profits, revenues and assets give the industry much to be cheery about.

By Bruce Kelly
Why the SEC can't wait for Congress to regulate cryptocurrencies
ALTERNATIVES DEC 09, 2021
Why the SEC can't wait for Congress to regulate cryptocurrencies

Partisan differences will hamstring legislation, as Democrats stress investor protection and Republicans focus on protecting innovation.

By Mark Schoeff Jr.
Regtech RIA in a Box acquired by ComplySci
FINTECH DEC 09, 2021
Regtech RIA in a Box acquired by ComplySci

The acquisition marks the third deal for ComplySci in the fourth quarter, in the wake of a strategic investment from K1 Investment Management, a private-equity firm focused on enterprise software companies.

By Sean Allocca
Gensler targets SPAC disclosures
REGULATION AND LEGISLATION DEC 09, 2021
Gensler targets SPAC disclosures

The SEC chairman's comments were the strongest signal to date that he'll push for much tougher rules for special purpose acquisition companies.

By InvestmentNews
Raymond James adds Texas advisers managing $567 million
INDEPENDENT BROKER DEALERS DEC 09, 2021
Raymond James adds Texas advisers managing $567 million

A duo from LPL and two Wells Fargo reps are affiliating with the firm’s independent unit.

By InvestmentNews
Wells Fargo team managing $250 million goes indie with LPL
INDEPENDENT BROKER DEALERS DEC 09, 2021
Wells Fargo team managing $250 million goes indie with LPL

Humanity Wealth Advisors sets up shop in California’s Bay Area.

By InvestmentNews
2021: The year of the PEP
RETIREMENT PLANNING DEC 09, 2021
2021: The year of the PEP

It’s effectively a new market for the retirement plan industry, but it’s an incredibly big frontier.

By Emile Hallez