Advisor News

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Few are prepared for long-term care costs
RETIREMENT PLANNING OCT 05, 2021
Few are prepared for long-term care costs

Families continue to provide the bulk of unpaid care, according to a new report that estimates more than one-third of individuals don't have the resources for even a year of minimal care.

By Mary Beth Franklin
Murder victim's son can get money from 401(k) linked to killers
RETIREMENT PLANNING OCT 05, 2021
Murder victim's son can get money from 401(k) linked to killers

The son of a man murdered by a Colombian guerrilla group had sued for access to a 401(k) account connected to the perpetrators.

By InvestmentNews
Crypto gains appeal as inflation hedge
ALTERNATIVES OCT 05, 2021
Crypto gains appeal as inflation hedge

Research shows that investors in digital currencies also see inflation as a longer-term reality.

By Jeff Benjamin
How do I market my RIA?
OPINION OCT 04, 2021
How do I market my RIA?

The compliance friction points that advisers detest the most are almost always centered around marketing.

By [email protected]
J.P. Morgan launches augmented reality tool for advisers
FINTECH OCT 04, 2021
J.P. Morgan launches augmented reality tool for advisers

J.P. Morgan Asset Management’s Guide to Markets content is now available through an augmented reality experience accessible via smartphones.

By Nicole Casperson
Trader who blew up IFS Securities charged with fraud
PRACTICE MANAGEMENT OCT 04, 2021
Trader who blew up IFS Securities charged with fraud

The trader, Keith Wakefield, was charged with one count of securities fraud, which carries a maximum sentence of one year in prison.

By Bruce Kelly
Adviser managing $170 million at Wells Fargo goes indie with LPL
INDEPENDENT BROKER DEALERS OCT 04, 2021
Adviser managing $170 million at Wells Fargo goes indie with LPL

Sean Khaligh, who joined Wells in 2007, is affiliating with LPL through The Financial Services Network and has formed EQ Private Wealth Advisors in Palos Verdes, California.

By InvestmentNews
What we talk about when we talk about risk profiles
OPINION OCT 04, 2021
What we talk about when we talk about risk profiles

Client risk profiles can be messy and complex, and even the language is confusing. Here are guidelines advisers can use to properly vet the tools they use to create client risk profiles.

By Sarah Newcomb
The rise of insurtech
OPINION OCT 04, 2021
The rise of insurtech

Just 10 years ago, there was little crossover between securities and insurance, as insurance agents, health insurance agents and Wall Street advisers traditionally stayed in separate lanes. But that has started to change.

By Arron Price
SEC charges California firms with misleading clients about markups
REGULATION AND LEGISLATION OCT 04, 2021
SEC charges California firms with misleading clients about markups

TCFG in Laguna Nigel marked up ticket charges 60% of the time, but told advisory clients that markups were imposed only 'in some limited instances,' the agency says.

By InvestmentNews
Bipartisan aura around retirement savings diminishes in reconciliation
RETIREMENT PLANNING OCT 01, 2021
Bipartisan aura around retirement savings diminishes in reconciliation

Republicans are upset about auto-IRA and other proposals in the $3.5 trillion budget reconciliation package. Will their ire carry over to SECURE 2.0?

By Mark Schoeff Jr.
LPL to pay $4.8 million over anti-money laundering charges
INDEPENDENT BROKER DEALERS OCT 01, 2021
LPL to pay $4.8 million over anti-money laundering charges

Last year, the SEC charged the unregistered adviser at the heart of the matter with defrauding a town in Puerto Rico and misappropriating $7.1 million.

By Bruce Kelly
Lawsuit over AutoZone's 401(k) targets new defendant: Northern Trust
RETIREMENT PLANNING OCT 01, 2021
Lawsuit over AutoZone's 401(k) targets new defendant: Northern Trust

In other cases, claims have been dismissed against several plan sponsors, including Prudential and Eversource Energy.

By Emile Hallez
Ultra-rich have a tax problem: Not knowing when to sell
RETIREMENT PLANNING OCT 01, 2021
Ultra-rich have a tax problem: Not knowing when to sell

Legislators are preparing to raise taxes on those earning more than $400,000, but almost everything about the tax package is up in the air, including the new rates and when the various provisions go into effect.

By Bloomberg
How technology can embrace ‘financial therapy’
OPINION OCT 01, 2021
How technology can embrace ‘financial therapy’

Advisers can use their tech stack to seamlessly track the opportunities best suited for each client and recommend appropriate actions that result in long-term change.

By Sarah Rasmuss
Former Merrill CEO David Komansky dies at 82
WIREHOUSES OCT 01, 2021
Former Merrill CEO David Komansky dies at 82

Komansky, who joined Merrill Lynch as a stockbroker, expanded the firm around the globe as its chairman and CEO during the bull markets of the 1990s.

By Bloomberg
Finra proposes $100 annual fee to ensure industry reentry
REGULATION AND LEGISLATION SEP 30, 2021
Finra proposes $100 annual fee to ensure industry reentry

A recent Financial Industry Regulatory Authority Inc. rule change gives reps five years to return without having to retake qualifying exams.

By Mark Schoeff Jr.
Schwab to investigate harassment claim made by former employee
PRACTICE MANAGEMENT SEP 30, 2021
Schwab to investigate harassment claim made by former employee

A discussion about what to wear on a casual Friday took an ugly turn, according to the former TD Ameritrade employee. CEO Walt Bettinger said harassment is unacceptable, and the firm will investigate the claims.

By Bruce Kelly
3 drivers of record M&A activity
OPINION SEP 30, 2021
3 drivers of record M&A activity

With valuations of financial planning and wealth management shops at record highs and private equity focusing on the space, it would seem prudent for firms to at least research their options.

By Scott Hanson
Former fund CEO agrees to pay $5.5 million over fraud charge
REGULATION AND LEGISLATION SEP 30, 2021
Former fund CEO agrees to pay $5.5 million over fraud charge

The SEC charged Robert Press, the former CEO of TCA Fund Management, and Donna Silverman, its former chief portfolio manager, with inflating net asset values.

By InvestmentNews