Advisor News

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ESG regulations in Europe map a clear path for the US
REGULATION AND LEGISLATION MAY 03, 2021
ESG regulations in Europe map a clear path for the US

Europe has led the way in the exploding market for socially responsible investing.

By InvestmentNews
Bitcoin bears: Financial advisers still cautious of crypto
FINTECH MAY 03, 2021
Bitcoin bears: Financial advisers still cautious of crypto

Hype from retail and institutional investors on digital assets isn’t enough to sway skeptical advisers who are weighing the risk and reward of crypto before adding the asset class to clients' portfolios.

By Nicole Casperson
Lowe's settles 401(k) suit, another university targeted
RETIREMENT PLANNING APR 30, 2021
Lowe's settles 401(k) suit, another university targeted

A plan participant sued the company on behalf of the class in 2018, alleging that Lowe’s and the plan’s investment consultant, Aon Hewitt Investment Consulting, violated their fiduciary duties in connection with a fund on the plan menu.

By Emile Hallez
LPL adds 385 advisers in record-setting first quarter
INDEPENDENT BROKER DEALERS APR 30, 2021
LPL adds 385 advisers in record-setting first quarter

The largest independent broker-dealer hit record asset levels as the advisory business continues to drive growth. Advisory assets increased by 54% on a year-over-year basis.

By Jeff Benjamin
UBS trio managing $560 million moves to Rockefeller
PRACTICE MANAGEMENT APR 30, 2021
UBS trio managing $560 million moves to Rockefeller

The five-member team is joining the firm’s Newport Beach, California office

By InvestmentNews
RIA Digital Assets Council launches certificate in blockchain, Bitcoin
FINTECH APR 30, 2021
RIA Digital Assets Council launches certificate in blockchain, Bitcoin

Advisers who enroll in the program will be qualified as experts in digital assets, says RIADAC founder Ric Edelman.

By Nicole Casperson
Senate bill would allow 401(k) match for student loan payments
RETIREMENT PLANNING APR 30, 2021
Senate bill would allow 401(k) match for student loan payments

The proposal would enable Americans to build retirement savings while repaying their student debt even if they can't afford to make their own contributions to a 401(k) plan.

By Bloomberg
Helping a client work through indecision
OPINION APR 29, 2021
Helping a client work through indecision

A widow couldn't decide whether to move to a condo or to a retirement community, as her children were urging. She was just stuck.

By Michael Broad
Political reality is likely to curb, not stop, Biden's proposed tax increases
REGULATION AND LEGISLATION APR 29, 2021
Political reality is likely to curb, not stop, Biden's proposed tax increases

Narrow Democratic majorities in the House and Senate provide plenty of political obstacles that could impede the president's tax plan.

By Mark Schoeff Jr.
New York court shoots down state's annuity best-interest rule
RETIREMENT PLANNING APR 29, 2021
New York court shoots down state's annuity best-interest rule

The court found that the rule was unconstitutionally vague and gave the state too much latitude to find violations.

By Emile Hallez
RBC adds Merrill trio managing $2 billion
PRACTICE MANAGEMENT APR 29, 2021
RBC adds Merrill trio managing $2 billion

The eight-person Paulson Holman Gatto Group is opening an office in Lake Forest, Illinois.

By InvestmentNews
OneDigital acquires $240 million retirement plan manager
RETIREMENT PLANNING APR 29, 2021
OneDigital acquires $240 million retirement plan manager

Keystone Retirement & Insurance Advisors is based in Houston.

By InvestmentNews
Biden offers a unity vision with rich paying ‘fair share’
REGULATION AND LEGISLATION APR 29, 2021
Biden offers a unity vision with rich paying ‘fair share’

The president promised tax increases on the wealthy to pay for ambitious plans to spend trillions on infrastructure, education and other Democratic priorities.

By Bloomberg
SEC punts decision on Bitcoin ETFs to at least June
ETFS APR 28, 2021
SEC punts decision on Bitcoin ETFs to at least June

In a filing Wednesday, the agency said it was postponing its decision until June 17. Optimism has been growing that the SEC may finally approve a Bitcoin ETF launch this year.

By Bloomberg
SEC enforcement chief Alex Oh resigns just days after taking job
REGULATION AND LEGISLATION APR 28, 2021
SEC enforcement chief Alex Oh resigns just days after taking job

Melissa Hodgman, who previously was serving as acting director of the enforcement unit, will return to that role, the SEC said.

By Bloomberg
New investors strain online brokerages: J.D. Power
FINTECH APR 28, 2021
New investors strain online brokerages: J.D. Power

Account openings at online brokerages have skyrocketed, but the number of problems cited by customers have doubled during the past year.

By Nicole Casperson
How the 401(k) industry can help attract young advisers
RETIREMENT PLANNING APR 28, 2021
How the 401(k) industry can help attract young advisers

Training advisers to be financial coaches or mentors is more appealing to the younger generation. Rather than cold-calling or selling insurance or high-priced annuities, these younger advisers would be contacting 'clients' of their firm with the blessing, and fiduciary oversight, of their employer.

By Fred Barstein
OSJ with $2 billion switches to Cadaret Grant from Securities America
INDEPENDENT BROKER DEALERS APR 28, 2021
OSJ with $2 billion switches to Cadaret Grant from Securities America

Cedar Brook Group, led by William Glubiak, is based in Cleveland and oversees 20 licensed professionals.

By InvestmentNews
UBS adviser managing $215 million goes indie with LPL
INDEPENDENT BROKER DEALERS APR 28, 2021
UBS adviser managing $215 million goes indie with LPL

Chad Taylor launches Seapoint Wealth Advisors in San Diego using LPL's services for breakaway brokers.

By InvestmentNews
Bitcoin in annuities? Several insurers are working on it
RETIREMENT PLANNING APR 28, 2021
Bitcoin in annuities? Several insurers are working on it

The annuities business, while being an early mover, still lags where some consumers want to see it, according to NYDIG. Recently, several insurance companies have made big investments in the firm.

By Emile Hallez