Advisor News

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LPL kicks off program to help advisers buy or sell practices
INDEPENDENT BROKER DEALERS FEB 11, 2021
LPL kicks off program to help advisers buy or sell practices

Its new effort, called M&A Solutions, includes ‘strategic support’ and online tools to help advisers considering a transaction.

By InvestmentNews
SEC wants independent monitor to run GPB amid fraud charges
ALTERNATIVES FEB 11, 2021
SEC wants independent monitor to run GPB amid fraud charges

The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.

By Bruce Kelly
Betterment offers custom model portfolios for advisers
FINTECH FEB 11, 2021
Betterment offers custom model portfolios for advisers

Advisers can build their own custom model portfolios of exchange-traded funds if they agree to move a minimum of $2.5 million in assets to Betterment.

By Nicole Casperson
'What else am I going to do?' How COVID-19 is sending many retirees back to work
RETIREMENT PLANNING FEB 11, 2021
'What else am I going to do?' How COVID-19 is sending many retirees back to work

The new world of working from the comfort of home has made employment a touch more tolerable, leading many to stay in their current jobs indefinitely, or accept new offers for part-time or temporary work.

By Emile Hallez
SEC empowers more staff to launch investigations
PRACTICE MANAGEMENT FEB 10, 2021
SEC empowers more staff to launch investigations

The change puts pressure on firms' compliance operations, experts say. Facilitating the ability of SEC staff to issue subpoenas and take testimony is expected to make enforcement more agile and effective.

By Mark Schoeff Jr.
House bill would adjust retirees' capital gains tax for inflation
RETIREMENT PLANNING FEB 10, 2021
House bill would adjust retirees' capital gains tax for inflation

The legislation would allow an inflation adjustment for stock or business property held by people 59 ½ or older who have held the assets for more than three years. The inflation adjustments would be made according to the Chained Consumer Price Index for All Urban Consumers.

By Emile Hallez
Triad Advisors dinged $194,000 by Finra over supervision
LIFE INSURANCE AND ANNUITIES FEB 10, 2021
Triad Advisors dinged $194,000 by Finra over supervision

Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.

By Bruce Kelly
GameStop fireworks are likely to bog down in a regulatory slog
OPINION FEB 10, 2021
GameStop fireworks are likely to bog down in a regulatory slog

Those who oversee the markets are not built to react quickly to disruptions within them. Theirs is a world of study and deliberation. They have to listen to a wide range of public input. and they often leave much regulatory ambiguity in place.

By Mark Schoeff Jr.
Tips for building a generation-resilient business
OPINION FEB 10, 2021
Tips for building a generation-resilient business

Are you prepared to attract, serve and retain the next generation of clients?

By Philip E. Caminiti
DOL backs off from CalSavers lawsuit, but damage may be done
RETIREMENT PLANNING FEB 10, 2021
DOL backs off from CalSavers lawsuit, but damage may be done

While the Labor Department has ended its support for the suit seeking to invalidate California's auto-IRA, the analysis in its amicus brief is still part of the record before the court.

By Emile Hallez
Building a business plan? Keep it simple
OPINION FEB 09, 2021
Building a business plan? Keep it simple

As an industry, we’ve probably made business planning more complex than it needs to be. Keep it simple; it’s better to write something down than nothing, and there’s no need to put everything down.

By Kristine McManus
SEC charges former Minneapolis-area RIA with $2.25 million fraud
REGULATION AND LEGISLATION FEB 09, 2021
SEC charges former Minneapolis-area RIA with $2.25 million fraud

Isaiah Goodman of Becoming Financial Advisory Services allegedly siphoned off most of clients’ money and spent it on himself

By InvestmentNews
Blockchange intros digital asset SMA for RIAs
FINTECH FEB 09, 2021
Blockchange intros digital asset SMA for RIAs

The new SMA tool enables RIAs to outsource the management of their client’s digital portfolios by using a framework to account for protocol maturation, ecosystem adoption rate, and project governance.

By Nicole Casperson
Securities firm owner, late scammer’s trust ordered to cough up $2.7 million
REGULATION AND LEGISLATION FEB 09, 2021
Securities firm owner, late scammer’s trust ordered to cough up $2.7 million

SEC obtains judgments against Seth Leyton and the trust of the orchestrator of a fraud involving collateralized mortgage obligations.

By InvestmentNews
Tesla's 401(k) generosity matches its cars' emissions: Zero
RETIREMENT PLANNING FEB 09, 2021
Tesla's 401(k) generosity matches its cars' emissions: Zero

The company is among a slim minority of defined-contribution plan sponsors. According to Vanguard’s 2020 How America Saves report, only 4% of its record-keeping clients did not make contributions of any kind to the company retirement plans.

By Emile Hallez
UBS nabs J.P. Morgan Private Bank team managing $6.5 billion
PRACTICE MANAGEMENT FEB 09, 2021
UBS nabs J.P. Morgan Private Bank team managing $6.5 billion

The group of five advisers, which was with J.P. Morgan for nine years, will join UBS' Century City office in Los Angeles.

By InvestmentNews
First Allied team managing $130 million forms own RIA
INDEPENDENT BROKER DEALERS FEB 09, 2021
First Allied team managing $130 million forms own RIA

Mission Financial Group in Hawaii will retain its B-D affiliations through First Allied.

By InvestmentNews
GameStop lawsuits allege 'conspiracy' bigger than Robinhood
ALTERNATIVES FEB 09, 2021
GameStop lawsuits allege 'conspiracy' bigger than Robinhood

Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.

By Emile Hallez
Here’s why we’re hosting an in-person conference in 2021
OPINION FEB 09, 2021
Here’s why we’re hosting an in-person conference in 2021

Those hosting conferences must earn the trust of on-site guests by taking every possible precaution, while creating experiences that are just as valuable for the careers of the professionals who participate remotely.

By Eric Clarke
The GameStop lawsuits are missing the point
FINTECH FEB 08, 2021
The GameStop lawsuits are missing the point

A host of discount brokerages, including Robinhood, Charles Schwab and ETrade, are now facing accusations of market manipulation. The challenges are expected to face tall legal hurdles.

By Sean Allocca