Advisor News

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SEC to assess when 'psychological nudges' become recommendations
FINTECH OCT 12, 2021
SEC to assess when 'psychological nudges' become recommendations

Securities and Exchange Commission Chairman Gary Gensler said his agency will determine when digital engagement practices used by online platforms cross the line into investment advice.

By Mark Schoeff Jr.
A plan for yourself is a plan for the future of your firm
OPINION OCT 12, 2021
A plan for yourself is a plan for the future of your firm

The No. 1 reason given for the increase in advisory firm M&A is the desire to create a succession plan. Advisers nearing retirement should consider their alternatives.

By Scott Hanson
Halo Investing raises $100 million
ALTERNATIVES OCT 12, 2021
Halo Investing raises $100 million

The platform, which provides structured notes, annuities and other investments, plans to use the funds to expand its product offerings.

By InvestmentNews
Bond market dilemma: How to lower duration without sacrificing yield
OPINION OCT 12, 2021
Bond market dilemma: How to lower duration without sacrificing yield

Investors could benefit from investing in a lower-duration, diversified fixed-income solution that invests in high income-producing sectors, such as high-quality high yield or emerging market debt.

By Edward Kerschner and Ronald Stahl
Acorns to launch custom portfolios in push toward active investing
FINTECH OCT 12, 2021
Acorns to launch custom portfolios in push toward active investing

Active engagement is part of the fintech’s larger mission to incentivize healthy investing behaviors that align with customers' best interest, according to CEO Noah Kerner.

By Nicole Casperson
Vestwell names Rob Molchon CTO
RETIREMENT PLANNING OCT 12, 2021
Vestwell names Rob Molchon CTO

The digital record-keeping platform also promoted Ryan Anderson to chief product officer.

By InvestmentNews
OneDigital hires CIO from Carson Group
RETIREMENT PLANNING OCT 12, 2021
OneDigital hires CIO from Carson Group

Saumen Chattopadhyay fills a role that had been vacant since former OneDigital CIO Jamie Battmer left the company in March.

By Emile Hallez
Exposing clients to financial plans in unexpected places
OPINION OCT 11, 2021
Exposing clients to financial plans in unexpected places

American Express Co. believes a consumer may want to create a full financial plan, complete with toggles for job promotions and inflation as well as important life events. They're not the only company that thinks so.

By Dani Fava
Finra targets SPACs in latest exam sweep
REGULATION AND LEGISLATION OCT 11, 2021
Finra targets SPACs in latest exam sweep

Proponents say special purpose acquisition companies help ordinary investors participate in private equity markets. Regulators are concerned about conflicts and fees in the complicated public offerings.

By Mark Schoeff Jr.
Fidelity's HSA business grew 50% in a year
RETIREMENT PLANNING OCT 11, 2021
Fidelity's HSA business grew 50% in a year

The biggest players are getting bigger, with the top four increasing their share of the health savings account market from 56% to 60%, according to a recent report by Morningstar Inc.

By Emile Hallez
Morgan Stanley rep managing $200 million goes indie with LPL
INDEPENDENT BROKER DEALERS OCT 11, 2021
Morgan Stanley rep managing $200 million goes indie with LPL

The financial adviser Douglas Chin has affiliated with the independent broker-dealer through Gladstone Wealth Partners in Red Bank, New Jersey

By InvestmentNews
Anticipating the future direction of the business
RETIREMENT PLANNING OCT 11, 2021
Anticipating the future direction of the business

As lawmakers called on Wells Fargo to be broken up last month, retirees and near-retirees are focusing less on wealth aspects of retirement.

By InvestmentNews
In search of adviser tech’s holy grail
FINTECH OCT 11, 2021
In search of adviser tech’s holy grail

An ecosystem is emerging whose ultimate goal is to increase advisers’ wallet share by enabling them to unify a client’s entire financial world onto a single platform.

By Nicole Casperson
Congress must help make emergency savings automatic
OPINION OCT 09, 2021
Congress must help make emergency savings automatic

People already use retirement savings to manage short-term needs through 401(k) plan loans, hardship withdrawals and by cashing out during job transitions. Any retirement legislation should include provisions for emergency savings.

By Timothy Flacke
SEC enforcement director stresses ‘proactive compliance’ on Reg BI
PRACTICE MANAGEMENT OCT 08, 2021
SEC enforcement director stresses ‘proactive compliance’ on Reg BI

The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.

By Mark Schoeff Jr.
UBS sued over muni-bond snafu that cost clients
FIXED INCOME OCT 08, 2021
UBS sued over muni-bond snafu that cost clients

UBS Financial Services misreported interest paid on taxable munis, resulting in higher tax bills for clients, according to a lawsuit.

By Bruce Kelly
AT&T fends off 401(k) fee suit
RETIREMENT PLANNING OCT 08, 2021
AT&T fends off 401(k) fee suit

The company recently received summary judgment in the case filed against it. Another company, Wesco Distribution, won a motion to dismiss in a separate case, and tech firm PTC appears to have reached a settlement in another.

By Emile Hallez
Lessons from Beijing’s toothless crypto ban
OPINION OCT 08, 2021
Lessons from Beijing’s toothless crypto ban

For crypto-skeptic advisers, the fact that the ban proved to be a tempest in a teapot should be a wake-up call. Crypto as an asset class is here to stay.

By Dan Eyre
Wall Street could get four Bitcoin futures ETFs this month
ALTERNATIVES OCT 08, 2021
Wall Street could get four Bitcoin futures ETFs this month

The applications the SEC will consider, for ETFs that hold Bitcoin futures, all follow a format that SEC Chair Gary Gensler has indicated could be received favorably by the regulator.

By Bloomberg
What's coming for RIAs from Washington: New regs
RETIREMENT PLANNING OCT 07, 2021
What's coming for RIAs from Washington: New regs

Tax changes are coming too, but the experts — like everyone else — await details.

By InvestmentNews