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BlackRock backs fewer proposals on climate, social issues
ESG AUG 24, 2023
BlackRock backs fewer proposals on climate, social issues

The fund company supported almost 7% of proposals in the 12 months ended in June, down from 22% in the year-earlier period.

By Bloomberg
Schwab: Traders shake off recession fears with more optimistic sentiment
INDUSTRY NEWS AUG 24, 2023
Schwab: Traders shake off recession fears with more optimistic sentiment

But survey reveals that traders are split on whether now is a good time to invest.

By Steve Randall
Apollo faces shareholder lawsuit over nine-figure executive tax payout
REGULATION AND LEGISLATION AUG 24, 2023
Apollo faces shareholder lawsuit over nine-figure executive tax payout

Asset manager under fire as it tries to repair post Epstein damage.

By [email protected]
Social Security benefits won't be enough for retirement, most believe
RETIREMENT PLANNING AUG 24, 2023
Social Security benefits won't be enough for retirement, most believe

Concern is rising among pre-retirees and younger, but more are getting professional help.

By Steve Randall
Judge orders $500K royalties must go to R. Kelly victims
REGULATION AND LEGISLATION AUG 24, 2023
Judge orders $500K royalties must go to R. Kelly victims

The disgraced singer is serving a 30 year jail sentence.

By Bloomberg
Four major banks settle stock-lending suit
RETIREMENT PLANNING AUG 23, 2023
Four major banks settle stock-lending suit

Pension funds led by the Iowa Public Employees' Retirement System brought an antitrust action related to the banks' control of the market for stock loans used for hedging and short selling.

By Bloomberg
Advisors must document annual compliance review in writing under new SEC rule
PRACTICE MANAGEMENT AUG 23, 2023
Advisors must document annual compliance review in writing under new SEC rule

The provision was buried on page 302 of a rule focused on private-fund advisors. The SEC also reopened the comment period on its advisor custody proposal.

By Mark Schoeff Jr.
SEC adopts rules to boost oversight of private-fund advisors
RIAS AUG 23, 2023
SEC adopts rules to boost oversight of private-fund advisors

Quarterly reporting and an annual audit 'could eat into returns and be borne by investors.'

By Mark Schoeff Jr.
Single-bond ETF manager goes against current by asking SEC for mutual fund share class
RETIREMENT PLANNING AUG 23, 2023
Single-bond ETF manager goes against current by asking SEC for mutual fund share class

There has been a trend away from mutual funds toward ETFs, but not in the 401(k) world, and fund provider F/m Investments sees that an opportunity.

By Emile Hallez
David Canter stepping down as president of Bluespring
RIAS AUG 23, 2023
David Canter stepping down as president of Bluespring

Canter joined Bluespring only a year ago after spending nearly 13 years at Fidelity Investments.

By Ryan W. Neal
LPL continues strong recruiting from Securities America in 2023
BROKER DEALERS AUG 23, 2023
LPL continues strong recruiting from Securities America in 2023

LPL, Osaic and Cetera Financial Group are all 'fighting amongst themselves' to lure advisors, one recruiter notes.

By Bruce Kelly
Charles Schwab and billionaire ex-Franklin Resources CEO in clam shack scrap
INDUSTRY NEWS AUG 23, 2023
Charles Schwab and billionaire ex-Franklin Resources CEO in clam shack scrap

What happens when one financial titan wants beer with clams and another doesn’t?

By Matthew Sellers
To be or not to be like Buffett: Financial advisors weigh in
EQUITIES AUG 23, 2023
To be or not to be like Buffett: Financial advisors weigh in

Do as the Oracle of Omaha says, not as he does — that’s what advisors tend to believe when it comes to Warren Buffett.

By Gregg Greenberg
Hightower firm expands in Washington with $470M team
RIAS AUG 23, 2023
Hightower firm expands in Washington with $470M team

Highland Private Wealth Management's acquisition takes its AUM to $1.9B.

By Steve Randall
Avantax attracts $330M team to its employee-based model
RETIREMENT PLANNING AUG 23, 2023
Avantax attracts $330M team to its employee-based model

The two advisors and support staff join the firm in Minnesota.

By Steve Randall
US futures rise but markets await Nvidia, rate signals
INDUSTRY NEWS AUG 23, 2023
US futures rise but markets await Nvidia, rate signals

Data and Fed chair's Jackson Hole speech all ahead.

By Bloomberg
Gold continues to shine as a hedge against uncertainty
INDUSTRY NEWS AUG 23, 2023
Gold continues to shine as a hedge against uncertainty

Fund managers are holding or increasing allocations despite recent price decreases.

By Bloomberg
Why are big asset managers buying Japanese hotels?
INDUSTRY NEWS AUG 23, 2023
Why are big asset managers buying Japanese hotels?

Goldman Sachs, KKR, and Blackstone are among the firms loading up on the assets.

By Bloomberg
Gold IRA, rare coin sellers find a home with inexperienced investors
RETIREMENT PLANNING AUG 22, 2023
Gold IRA, rare coin sellers find a home with inexperienced investors

Regulators have taken numerous actions against metals dealers that target older customers through TV ads.

By Emile Hallez
Altruist vs. Altruist: An RIA claims digital custodian violates his trademark
RIAS AUG 22, 2023
Altruist vs. Altruist: An RIA claims digital custodian violates his trademark

Michigan RIA owner says case is a 'true David and Goliath situation' and that company name has caused significant confusion in the market.

By Ryan W. Neal