Advisor News

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Dangers advisers may face due to record-keeper consolidation
RETIREMENT PLANNING OCT 20, 2021
Dangers advisers may face due to record-keeper consolidation

The larger providers produced by consolidation will cater to larger RPA groups like aggregators and major broker-dealers at the expense of smaller, independent RPAs.

By Fred Barstein
The new rules for a tech-driven world post-pandemic
FINTECH OCT 20, 2021
The new rules for a tech-driven world post-pandemic

'There is no remote work. There is only work,' futurist Mike Walsh said during a session on the future of the industry at the Schwab Impact conference.

By Emile Hallez
Adviser Josh Brown launches wealth management event
FINTECH OCT 20, 2021
Adviser Josh Brown launches wealth management event

Future Proof, which will cover technology and trends, is set for Huntington Beach, California, in September 2022.

By InvestmentNews
Team managing $250 million leaves Ameriprise for LPL
INDEPENDENT BROKER DEALERS OCT 20, 2021
Team managing $250 million leaves Ameriprise for LPL

The father-and-son Riolo Financial Group is based in New City, New York.

By InvestmentNews
Passage of infrastructure bill could mean more spending in future
REGULATION AND LEGISLATION OCT 20, 2021
Passage of infrastructure bill could mean more spending in future

Congress likely would propose more sustainable infrastructure investment once the ball gets rolling, expert says at Schwab Impact.

By Mark Schoeff Jr.
Nationwide, Capital Group create target-date with annuity
RETIREMENT PLANNING OCT 19, 2021
Nationwide, Capital Group create target-date with annuity

The product, which will be offered in defined-contribution plans, is engineered to deliver 6% income at retirement.

By InvestmentNews
SageView Advisory acquires $1.8 billion Michigan RIA
RIA NEWS OCT 19, 2021
SageView Advisory acquires $1.8 billion Michigan RIA

The purchase of Bloomfield Hills Financial brings SageView 50 employees and six locations.

By InvestmentNews
Should celebrity profiles be considered investment advice?
FINTECH OCT 19, 2021
Should celebrity profiles be considered investment advice?

Investing apps allow investors to trade securities and share those strategies with like-minded traders. Regulators may need to consider whether they're also providing investment advice.

By Sean Allocca
Finra set to review rules on sales of complex products
ALTERNATIVES OCT 19, 2021
Finra set to review rules on sales of complex products

The broker-dealer regulator's move comes as the SEC launches a study of the risks associated with complex exchange-traded products that could lead to rulemaking.

By Mark Schoeff Jr.
CalSavers lawsuit floated to Supreme Court
RETIREMENT PLANNING OCT 19, 2021
CalSavers lawsuit floated to Supreme Court

The case has big implications for similar state programs that require small businesses with as few as five employees to provide retirement plans, unless they register for the state-sponsored option.

By Emile Hallez
TD Bank to offer robo-adviser
FINTECH OCT 19, 2021
TD Bank to offer robo-adviser

The bank is strengthening its investment advice offerings by adding both a robo-adviser and a hybrid adviser.

By InvestmentNews
SEC GameStop report backs Gensler push to toughen rules
REGULATION AND LEGISLATION OCT 19, 2021
SEC GameStop report backs Gensler push to toughen rules

The report says the volatile trading in meme stocks early last year warrants a close look at factors that led brokers to restrict customer trading, as well as at gamification, short-selling and payment for order flow.

By Bloomberg
State-regulated advisers want a piece of testimonial marketing action
PRACTICE MANAGEMENT OCT 18, 2021
State-regulated advisers want a piece of testimonial marketing action

Smaller state advisers want to be able to post client endorsements and quote them in ads when bigger SEC-registered firms get the green light.

By Mark Schoeff Jr.
Middle-class Americans are asset poor: Report
RETIREMENT PLANNING OCT 18, 2021
Middle-class Americans are asset poor: Report

The National Institute on Retirement Security found the middle class can longer afford retirement, according to a new report.

By InvestmentNews
Fidelity, MassMutual point to student-loan perks for workers
RETIREMENT PLANNING OCT 18, 2021
Fidelity, MassMutual point to student-loan perks for workers

Fidelity is increasing its limit for student loan contributions for its employees, and MassMutual is letting people apply vacation time to payments.

By Emile Hallez
Edward Jones loses $30 million cyberbullying claim over fake sex ads
FINTECH OCT 18, 2021
Edward Jones loses $30 million cyberbullying claim over fake sex ads

The former broker, Dalas Gundersen, sued Edward Jones in 2015, seeking damages, after three fake gay-sex ads were posted on Craigslist earlier that year listing his business phone number.

By Bruce Kelly
First US Bitcoin-linked ETF raises concerns for advisers
ALTERNATIVES OCT 18, 2021
First US Bitcoin-linked ETF raises concerns for advisers

While the ProShares Bitcoin Strategy ETF is the first of its kind, there are a host of other versions coming soon. The futures-based strategy could make the tech stock volatility of the 1990s look tame by comparison, according to experts.

By Jeff Benjamin
The latest in financial #AdviserTech — October 2021
FINTECH OCT 18, 2021
The latest in financial #AdviserTech — October 2021

This month’s #AdviserTech roundup includes Franklin Templeton’s purchase of O’Shaughnessy Asset Management and its Canvas direct index platform; Morningstar’s acquisition of Moorgate Benchmarks; Betterment for Advisors’ shift from TAMP to RIA custodian competitor; and the SEC’s inquiry into when fintech-driven nudges become bona fide investment advice.

By Michael Kitces and Kyle Van Pelt
TIAA faces class action over rollovers
RETIREMENT PLANNING OCT 15, 2021
TIAA faces class action over rollovers

TIAA settled claims in July from the SEC and New York State. Deloitte was recently sued over its plan, and Aon prevailed in a lawsuit.

By Emile Hallez
RIAs should brace for technology disruption
RIA NEWS OCT 15, 2021
RIAs should brace for technology disruption

Fintech experts say the next disruption could come from out of the blue, and that advisers should avoid embracing tech for tech's sake.

By Jeff Benjamin