Advisor News

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Why advisers are sacrificing momentum to change firms
OPINION JUN 01, 2021
Why advisers are sacrificing momentum to change firms

It seems counterintuitive that an adviser or team who may be riding the wave of their 'best year ever' would change jerseys or break for independence. Yet it’s happening in record numbers.

By Louis Diamond
The inflation conversation
OPINION MAY 31, 2021
The inflation conversation

By failing to adequately explain how inflation, compounded over time, significantly reduces our spending power, we leave clients vulnerable to the false assumption that the income they have today will still be adequate in 10 or 20 years.

By Sarah Newcomb
Biden tax plan forecast to bring in $3.6T in decade
REGULATION AND LEGISLATION MAY 28, 2021
Biden tax plan forecast to bring in $3.6T in decade

The biggest surprise in Biden’s tax proposal is that it assumes an increase in the capital gains rate would be retroactive to April 2021, which would prevent wealthy people from selling off their assets quickly to avoid the hike.

By Bloomberg
Fintech Stash weighs options for going public
FINTECH MAY 28, 2021
Fintech Stash weighs options for going public

The robo-adviser raised $125 million in a February funding round, for a $1.4 billion valuation.

By Bloomberg
Finra withdraws expungement reform proposal
REGULATION AND LEGISLATION MAY 28, 2021
Finra withdraws expungement reform proposal

The measure, which would have established a special roster of arbitrators to hear broker requests to clear their records, was criticized by PIABA as being too limited to address the problem.

By Mark Schoeff Jr.
State Street sued over 401(k); Columbia settles for $13 million
RETIREMENT PLANNING MAY 28, 2021
State Street sued over 401(k); Columbia settles for $13 million

The State Street plan did not include the lowest-cost share classes of the Target Retirement Securities Lending series, and there were some options from third parties with stronger performance records, according to the complaint.

By Emile Hallez
Older clients confused by meme stocks: Survey
FINTECH MAY 28, 2021
Older clients confused by meme stocks: Survey

Investors are curious about crypto and meme stocks, but most advisers say that clients do not understand the volatility of these investments.

By Nicole Casperson
Texas legislature passes anti-ESG bill
RETIREMENT PLANNING MAY 28, 2021
Texas legislature passes anti-ESG bill

If the governor signs the bill, the state's six public pension funds would be prohibited from investing in financial products that boycott energy companies.

By InvestmentNews
Goldman wins exemption from Labor Department's pension overseer
RETIREMENT PLANNING MAY 28, 2021
Goldman wins exemption from Labor Department's pension overseer

The Employee Benefits Security Administration gives the firm a green light to oversee retirement plan assets despite its 1MDB misdeeds

By InvestmentNews
The unified managed household and the future of advice delivery
OPINION MAY 28, 2021
The unified managed household and the future of advice delivery

How a UMH improves financial outcomes for investors, advisers and firms, and why it’s important to determine the optimal series of 'next best actions.'

By Jack Sharry
Robinhood loses bid to halt enforcement of Massachusetts fiduciary rule
REGULATION AND LEGISLATION MAY 28, 2021
Robinhood loses bid to halt enforcement of Massachusetts fiduciary rule

The online trading app sued to overturn the state's fiduciary rule after Massachusetts accused Robinhood of manipulating customers.

By Bloomberg
Biden's budget would raise annual spending to $6 billion
REGULATION AND LEGISLATION MAY 27, 2021
Biden's budget would raise annual spending to $6 billion

The budget will assume the increase in the top capital gains tax rate to 43.4% that Biden has proposed will be effective retroactive to late April.

By Bloomberg
Legislation would require ESG factors in investment decisions
RETIREMENT PLANNING MAY 27, 2021
Legislation would require ESG factors in investment decisions

The bills amend the Investment Advisers Act and federal retirement law to promote sustainable investing. The document must describe the factors advisers use in making investment decisions and they must 'align with an ESG framework'

By Mark Schoeff Jr.
Early CalPERS Long-Term Care clients squeezed by rate hikes
RETIREMENT PLANNING MAY 27, 2021
Early CalPERS Long-Term Care clients squeezed by rate hikes

Two impending hikes that would boost premiums for existing CalPERS Long-Term Care insurance customers by 90% make coverage hard to justify, one policyholder said.

By Emile Hallez
Democratic-led SEC lets investors determine ESG materiality
REGULATION AND LEGISLATION MAY 27, 2021
Democratic-led SEC lets investors determine ESG materiality

The agency likely will propose disclosure rules and has already outlined compliance shortfalls, according to experts at the InvestmentNews Global ESG Summit.

By Mark Schoeff Jr.
Fewer retirees are claiming Social Security at 62
RETIREMENT PLANNING MAY 27, 2021
Fewer retirees are claiming Social Security at 62

But unemployment resulting from Covid could temporarily reverse that positive trend.

By Mary Beth Franklin
OneDigital acquires two firms in Portland, Oregon
RETIREMENT PLANNING MAY 27, 2021
OneDigital acquires two firms in Portland, Oregon

Impact Benefits & Retirement and Strategic Employee Benefit Services will be folded in.

By InvestmentNews
Duo managing $250 million at Wells Fargo joins Janney
INDEPENDENT BROKER DEALERS MAY 27, 2021
Duo managing $250 million at Wells Fargo joins Janney

Three sole practitioners managing $297 million in total are also moving to the firm.

By InvestmentNews
Building credibility through communication
OPINION MAY 27, 2021
Building credibility through communication

People want to work with advisers who show they’re proactive and reliable by identifying problems that could have easily gone under the radar. Custom targeting reinforces the idea that you are capable of helping.

By Robert Sofia
Acorns to go public via $2 billion SPAC deal
FINTECH MAY 27, 2021
Acorns to go public via $2 billion SPAC deal

Acorns is the latest wealthtech company to go public via blank-check merger, following competitors like SoFi. Launched at the end of 2014, the fintech is a subscription-based automated investing and banking app.

By Nicole Casperson