Advisor News

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Ohio National fends off VA trail commission suit, others remain
LIFE INSURANCE AND ANNUITIES APR 26, 2021
Ohio National fends off VA trail commission suit, others remain

The insurer recently won a long-running case brought by several brokers, though it is fighting several other suits from broker-dealers.

By Emile Hallez
Biden's tax plan collides with  GOP, SALT rebels
REGULATION AND LEGISLATION APR 26, 2021
Biden's tax plan collides with GOP, SALT rebels

Republicans are likely to oppose the tax increases en masse, but the White House is also risking a struggle with Democratic lawmakers who want the administration to address the $10,000 cap on state and local tax deductions.

By Bloomberg
The more personal post-Covid client-adviser conversations
OPINION APR 26, 2021
The more personal post-Covid client-adviser conversations

Advisers nearly universally agree that a return to office meetings is key, and that they must change

By Joseph Coughlin
Archegos is a wake-up call for family offices
REGULATION AND LEGISLATION APR 26, 2021
Archegos is a wake-up call for family offices

Family offices traditionally were set up by wealthy families to manage their assets, along with handling taxes, estate planning and other chores. As the ranks of the rich expanded, so did the number of family offices.

By InvestmentNews
In face of pandemic, IBDs proved resilient in 2020
INDEPENDENT BROKER DEALERS APR 26, 2021
In face of pandemic, IBDs proved resilient in 2020

Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.

By Bruce Kelly
Wall Street's ESG club sees huge tax perks
RIA NEWS APR 23, 2021
Wall Street's ESG club sees huge tax perks

Big banks' finance work involving environmental, social and governance projects saves them a lot on taxes.

By Bloomberg
Principal, Salesforce prevail in 401(k) lawsuits
RETIREMENT PLANNING APR 23, 2021
Principal, Salesforce prevail in 401(k) lawsuits

After a six-day bench trial in U.S. District Court in the Southern District of Iowa Central Division, a judge ruled in favor of Principal on all counts. Salesforce also won a case, while a new one was filed against Kimberly-Clark, and another was settled by John Hancock.

By Emile Hallez
Wealthfront, Betterment, SoFi expand offerings
FINTECH APR 23, 2021
Wealthfront, Betterment, SoFi expand offerings

Robos are continuing to make incremental product expansions to make their digital advice platforms more competitive with incumbent banks.

By Nicole Casperson
State-registered investment advisers hold steady at more than 17,000
REGULATION AND LEGISLATION APR 23, 2021
State-registered investment advisers hold steady at more than 17,000

Most state-level advisory firms are one- or two-person shops staffed exclusively by financial professionals.

By Mark Schoeff Jr.
Cetera forms diversity and inclusion council
INDEPENDENT BROKER DEALERS APR 23, 2021
Cetera forms diversity and inclusion council

A 12-member group at the independent broker-dealer will work on company and industrywide initiatives.

By InvestmentNews
Biden eyeing capital gains tax rate as high as 43.4% for wealthy
REGULATION AND LEGISLATION APR 22, 2021
Biden eyeing capital gains tax rate as high as 43.4% for wealthy

The administration reportedly is considering boosting the tax rate on the capital gains to 39.6% from the current base rate of 20%.

By Bloomberg
Gensler taps Alex Oh as  SEC enforcement chief
REGULATION AND LEGISLATION APR 22, 2021
Gensler taps Alex Oh as SEC enforcement chief

She is another in a line of recent SEC enforcement directors who comes to the agency with experience as a federal prosecutor.

By Mark Schoeff Jr.
OneDigital continues acquisition tear with purchase of $6B plan adviser
RETIREMENT PLANNING APR 22, 2021
OneDigital continues acquisition tear with purchase of $6B plan adviser

The deal announced Thursday will add about $6 billion in assets across 71 retirement plans to Atlanta-based OneDigital Investment Advisors’ business.

By Emile Hallez
Retirement confidence resilient despite pandemic
RETIREMENT PLANNING APR 22, 2021
Retirement confidence resilient despite pandemic

The annual EBRI survey underscores workers' and retirees' optimism about the outlook for Social Security and Medicare.

By Mary Beth Franklin
Ancora outsiders lose fight for seats on Blucora board
INDEPENDENT BROKER DEALERS APR 22, 2021
Ancora outsiders lose fight for seats on Blucora board

The newcomers had criticized Blucora for mishandling the broker-dealer, Avantax, calling it a potential 'gem of the wealth management industry.' The shareholders reelected the 10 current board members.

By Bruce Kelly
Trio managing $550 million at Merrill moves to RBC
PRACTICE MANAGEMENT APR 22, 2021
Trio managing $550 million at Merrill moves to RBC

MMC Group will be based in RBC’s office in Jericho, New York.

By InvestmentNews
SEC to examine fund disclosure rules after Archegos
REGULATION AND LEGISLATION APR 22, 2021
SEC to examine fund disclosure rules after Archegos

Agency officials reportedly are looking at ways to increase transparency for the types of derivative bets that sank Archegos Capital Management.

By Bloomberg
SEC obtains final judgment against Connecticut RIA
REGULATION AND LEGISLATION APR 22, 2021
SEC obtains final judgment against Connecticut RIA

Former adviser Lester Burroughs was also found guilty of wire fraud in a criminal case.

By InvestmentNews
How do you know if it’s time to break away from the wirehouse?
WIREHOUSES APR 22, 2021
How do you know if it’s time to break away from the wirehouse?

Here are a few telltale indicators that say you’re ready—and some tips to get your journey started.

By Commonwealth Financial Network
Lawmakers renew push to increase SIMPLE plan contributions
RETIREMENT PLANNING APR 21, 2021
Lawmakers renew push to increase SIMPLE plan contributions

The legislation would bump up the annual contribution limit, taking it from the current maximum of $13,500 to $16,500. Sens. Susan Collins and Mark Warner note the proposed increase is the midpoint between SIMPLE plans and traditional 401(k)s.

By Emile Hallez