Advisor News

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SEC charges crypto exchange BitConnect with $2 billion fraud scheme
ALTERNATIVES SEP 02, 2021
SEC charges crypto exchange BitConnect with $2 billion fraud scheme

The regulator sued five BitConnect promoters in May for their roles in promoting the scheme by creating testimonials on YouTube, sometimes multiple times a day.

By Bloomberg
SEC's Gensler orders review of funds' ESG disclosures
REGULATION AND LEGISLATION SEP 02, 2021
SEC's Gensler orders review of funds' ESG disclosures

The agency is considering more stringent disclosure requirements for investment funds amid concerns that some fund managers are making unfounded ESG claims.

By InvestmentNews
Snappy Kraken pushes annual conference to 2022
FINTECH SEP 02, 2021
Snappy Kraken pushes annual conference to 2022

The conference, originally scheduled for Oct. 20-22, will now take place on May 4-6, 2022 at the Aria in Las Vegas. The move follows other recent postponements of tech-related events.

By Nicole Casperson
Building a better portfolio with ESG ETFs
OPINION SEP 02, 2021
Building a better portfolio with ESG ETFs

ESG ETFs have investments related to solving social issues in the country such as racial disparities and better health care.

By Lyle Solomon
Pierce wins small-firm seat on Finra board
REGULATION AND LEGISLATION SEP 01, 2021
Pierce wins small-firm seat on Finra board

Paige Pierce, chief executive of Bley Investment Group, emphasized updating the Finra rulebook during her campaign. Timothy Sheve, chief executive of Janney Montgomery Scott, and James Crowley, chief executive of Pershing Advisor Solutions, also were elected to the board.

By Mark Schoeff Jr.
Kathleen Kennedy Townsend joins DOL in retirement advisory role
RETIREMENT PLANNING SEP 01, 2021
Kathleen Kennedy Townsend joins DOL in retirement advisory role

The former lieutenant governor of Maryland has been one of the driving forces in that state's forthcoming auto IRA program.

By Emile Hallez
Goldman Sachs hires tech veteran Cynthia Loh from Charles Schwab
FINTECH SEP 01, 2021
Goldman Sachs hires tech veteran Cynthia Loh from Charles Schwab

Loh served as vice president of digital advice and innovation and oversaw the Intelligent Portfolio automated advice platform at Schwab. The hire emphasizes the bank’s recent push to utilize technology offerings to serve the mass affluent market.

By Nicole Casperson
Regulators scrutinize ESG more closely as greenwashing explodes
REGULATION AND LEGISLATION SEP 01, 2021
Regulators scrutinize ESG more closely as greenwashing explodes

Researchers have raised questions about the credentials of money managers who claim they are marketing funds designed to address the climate crisis and social injustice.

By Bloomberg
A student loan crisis is looming. RPAs can help clients prepare
RETIREMENT PLANNING SEP 01, 2021
A student loan crisis is looming. RPAs can help clients prepare

Plan sponsors are clamoring for solutions to help employees with their financial issues. Student loans and emergency savings programs are two easy, simple and impactful ways that the DC industry can help.

By Fred Barstein
Raymond James affiliate managing $625 million moves to LPL
INDEPENDENT BROKER DEALERS SEP 01, 2021
Raymond James affiliate managing $625 million moves to LPL

The six-adviser team at TBT Financial Services is based in Tyler and Longview, Texas

By InvestmentNews
Four-person Merrill team managing $391 million joins UBS
PRACTICE MANAGEMENT SEP 01, 2021
Four-person Merrill team managing $391 million joins UBS

Brenner Wealth Management Group is based in Santa Barbara, California.

By InvestmentNews
Fintech firm offers annuity selection tool
RETIREMENT PLANNING SEP 01, 2021
Fintech firm offers annuity selection tool

Luma Financial Technologies' new tool, Luma Compare, lets advisers compare a variety of products.

By InvestmentNews
4 key Olympic lessons for advisers
OPINION SEP 01, 2021
4 key Olympic lessons for advisers

Here are the top four lessons I walked away from the Olympics with and that I will strive to instill in my team.

By Kay Lynn Mayhue
Repeat RIA offender charged with fraud
RIA NEWS SEP 01, 2021
Repeat RIA offender charged with fraud

The SEC says Dean Tellone and his California firm hid information from mortgage investors.

By InvestmentNews
Small acts of kindness that build your advisory business
OPINION SEP 01, 2021
Small acts of kindness that build your advisory business

Treating clients as we would our dearest friends is not only the right thing to do, but tends to result in a lot of referrals from happy, well-cared-for clients.

By Barbara Healy
Wells Fargo risks regulatory action over pace of restitutions
WIREHOUSES AUG 31, 2021
Wells Fargo risks regulatory action over pace of restitutions

Regulators are privately signaling that they're still not satisfied with the bank's progress in compensating victims and shoring up controls.

By Bloomberg
Social Security trust fund to be depleted 1 year sooner than expected
RETIREMENT PLANNING AUG 31, 2021
Social Security trust fund to be depleted 1 year sooner than expected

The 2021 Trustees Report shows the trust funds will run dry in 2034 as a result of the economic fallout from the pandemic.

By Mary Beth Franklin
SEC inquiry into online brokers could redefine recommendations
REGULATION AND LEGISLATION AUG 31, 2021
SEC inquiry into online brokers could redefine recommendations

The agency could be on the path toward clarifying whether online trading platforms are giving investment advice. The examination will also consider potential conflicts of interest between brokers and investors.

By Mark Schoeff Jr.
401(k) brokerage accounts on the rise: Charles Schwab
RETIREMENT PLANNING AUG 31, 2021
401(k) brokerage accounts on the rise: Charles Schwab

The average account balance was more than $348,000, up from nearly $287,000 a year prior, according to a new study. Brokerage accounts are favored by investors who want to be more active in managing their retirement assets.

By Emile Hallez
PayPal to launch stock trading on its mobile app
FINTECH AUG 31, 2021
PayPal to launch stock trading on its mobile app

The payments giant enters a competitive but flourishing marketplace for online brokerages as it evolves its app to enable millions to trade individual stocks. PayPal currently has approximately 400 million users.

By Nicole Casperson