Advisor News

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Woman in NYC bird-watcher case sues Franklin Templeton over firing
PRACTICE MANAGEMENT MAY 27, 2021
Woman in NYC bird-watcher case sues Franklin Templeton over firing

Amy Cooper says the company falsely claimed that it conducted an investigation before firing her.

By Bloomberg
SEC chairman signals more scrutiny of crypto, SPACs
REGULATION AND LEGISLATION MAY 26, 2021
SEC chairman signals more scrutiny of crypto, SPACs

Gensler told lawmakers Wednesday that special purpose acquisition companies and digital coins pose significant policy and investor-protection questions.

By Bloomberg
Encouraging clients to invest in their dreams
OPINION MAY 26, 2021
Encouraging clients to invest in their dreams

Sometimes, rather than stopping clients from overspending, we need to convince them that they can afford something they want.

By Michael Broad
Ex-SEC commissioner targets rogue brokers turning to insurance sales
REGULATION AND LEGISLATION MAY 26, 2021
Ex-SEC commissioner targets rogue brokers turning to insurance sales

Study co-authored by Robert Jackson Jr. shows that 'wandering advisers' who leave one regulator and continue operating under another are more likely to commit misconduct.

By Mark Schoeff Jr.
Bank CEOs scolded by senators
REGULATION AND LEGISLATION MAY 26, 2021
Bank CEOs scolded by senators

Banking Committee Chairman Sherrod Brown challenged the executives 'to be as good to the American people as the nation has been to you.'

By Bloomberg
Crypto may 'force' SEC to modernize rules: Hester Peirce
PRACTICE MANAGEMENT MAY 26, 2021
Crypto may 'force' SEC to modernize rules: Hester Peirce

The regulator is taking ownership of the work that is needed to provide some comfort around custody issues in the crypto space. 'The bottom line message I have is that we have work to do,' she said.

By Nicole Casperson
RPA plan pricing is in dire need of a refresh
RETIREMENT PLANNING MAY 26, 2021
RPA plan pricing is in dire need of a refresh

Though RPAs loathe comparisons to law firms, advisers are professional service providers like lawyers and accountants who charge based on the work and time spent. More experienced professionals can charge a higher hourly rate – and last time I checked, few of them are hurting.

By Fred Barstein
ICMA-RC upgrades its managed accounts platform
RETIREMENT PLANNING MAY 26, 2021
ICMA-RC upgrades its managed accounts platform

The manager of public sector retirement plans will offer personalized advice to participants.

By InvestmentNews
Number of registered reps and brokerages declined again in 2020: Finra
REGULATION AND LEGISLATION MAY 25, 2021
Number of registered reps and brokerages declined again in 2020: Finra

Although the brokerage industry is shrinking, it's still doing well financially. Aggregate revenue for Finra-registered firms totaled $362 billion in 2020, down from $388 billion in 2019 but higher than every other year since 2016.

By Mark Schoeff Jr.
Half of the money in public DC plans is in just two asset classes
RETIREMENT PLANNING MAY 25, 2021
Half of the money in public DC plans is in just two asset classes

Despite often having unwieldy investment menus, government DC plans are concentrated in large-cap U.S. equity and stable value, according to a recent report from the Public Retirement Research Lab.

By Emile Hallez
How to choose and implement technology
OPINION MAY 25, 2021
How to choose and implement technology

The key is knowing how to select software that solves your problems while simultaneously improving both the functionality and the profitability of your firm.

By Adi Garg
Onramp Invest debuts crypto asset management for RIAs
FINTECH MAY 25, 2021
Onramp Invest debuts crypto asset management for RIAs

Onramp Invest emerges from beta mode amid a rapidly evolving crypto marketplace that historically kept financial advisers on the sidelines.

By Nicole Casperson
Bipartisan bill creating retirement ‘lost and found’ reintroduced
RETIREMENT PLANNING MAY 25, 2021
Bipartisan bill creating retirement ‘lost and found’ reintroduced

The measure proposed by Sens. Warren and Daines addresses the $8.5 billion sitting in lost retirement plan accounts.

By InvestmentNews
First Allied duo managing $275 million shifts to LPL
INDEPENDENT BROKER DEALERS MAY 25, 2021
First Allied duo managing $275 million shifts to LPL

Craig Zaleck and Mark Hogan, who are based in Bayonne, New Jersey, will affiliate through super OSJ INC Advisors.

By InvestmentNews
The latest in financial #AdviserTech — May 2021
FINTECH MAY 25, 2021
The latest in financial #AdviserTech — May 2021

The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers.

By Michael Kitces
Square takes aim at big banks with checking, savings accounts
FINTECH MAY 25, 2021
Square takes aim at big banks with checking, savings accounts

The payments processor plans to offer both types of accounts to the small businesses that use its app, according to hidden code in a recent update to its app.

By Bloomberg
Merrill Lynch details adviser development program
PRACTICE MANAGEMENT MAY 24, 2021
Merrill Lynch details adviser development program

With a fresh take on adviser training, Merrill Lynch expects to increase diversity while graduating 1,000 new advisers per year. These advisers will be located in-office and report to their local market executives.

By Nicole Casperson
Rising inflation? Keep calm and invest in equities
OPINION MAY 24, 2021
Rising inflation? Keep calm and invest in equities

If price pressures are picking up, cash and fixed income will suffer, and stocks could offer investors the best return.

By Charles Lemonides
Merrill Lynch to launch new adviser training course, ends cold-calling
PRACTICE MANAGEMENT MAY 24, 2021
Merrill Lynch to launch new adviser training course, ends cold-calling

In keeping with the times, it appears that the practice of cold-calling is out and using social and business networking platforms like LinkedIn is in.

By Bruce Kelly
T. Rowe to cut target-date fees, add fund line
RETIREMENT PLANNING MAY 24, 2021
T. Rowe to cut target-date fees, add fund line

The firm is reducing fees and is adding a mutual fund version of its Retirement Blend series, which has existed since 2018 in CIT form.

By Emile Hallez