Advisor News

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How RPAs can decommoditize their 401(k) services
RETIREMENT PLANNING FEB 08, 2021
How RPAs can decommoditize their 401(k) services

Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.

By Fred Barstein
SEC charges repeat scammer with investment fraud
REGULATION AND LEGISLATION FEB 08, 2021
SEC charges repeat scammer with investment fraud

Stephen Moleski, who was arrested for a 1989 scheme, was alleged to be running an unregistered offering and acting as an unregistered broker.

By InvestmentNews
RIAs led in a year of recruiting slowed by the pandemic
RIA NEWS FEB 08, 2021
RIAs led in a year of recruiting slowed by the pandemic

A year of remote work appeared to accelerate the trend of advisers going independent for more control over their business, and in many cases, opportunities for higher take-home pay. Independent broker-dealers also saw a year of positive gains, though on net the channel was down from 2019.

By Devin McGinley
RIAs leverage TAMP tech the most: Report
FINTECH FEB 08, 2021
RIAs leverage TAMP tech the most: Report

Turnkey asset management platforms hold more than $2 trillion in managed wealth, and RIAs are the group that's funneling the most assets into TAMPs.

By Nicole Casperson
Finra arbitrators order J.P. Morgan, former brokers to pay $19 million
REGULATION AND LEGISLATION FEB 08, 2021
Finra arbitrators order J.P. Morgan, former brokers to pay $19 million

A retailing matriarch won the decision against her grandsons, who invested her money in complex products. J.P. Morgan and the grandsons were also found liable for elder abuse under Florida law.

By Mark Schoeff Jr.
Cetera plans to offer retention bonuses to 900 Voya advisers
INDEPENDENT BROKER DEALERS FEB 08, 2021
Cetera plans to offer retention bonuses to 900 Voya advisers

Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.

By Bruce Kelly
Women’s retirement plans torpedoed by COVID
RETIREMENT PLANNING FEB 08, 2021
Women’s retirement plans torpedoed by COVID

Nearly three-quarters of women with investible assets of $100,000 or more say the pandemic has negatively impacted their ability to retire, but as that is happening, more women are turning to financial professionals for advice, according to a Nationwide survey.

By Mary Beth Franklin
SEC's new marketing rules mean transformative change for advisory firms
OPINION FEB 08, 2021
SEC's new marketing rules mean transformative change for advisory firms

Word-of-mouth from satisfied clients has always been an important channel for generating new business. Now advisers can directly reach out to potential clients and share testimonials.

By Robb Fahrion
ESG credentials in demand by pension funds
RETIREMENT PLANNING FEB 08, 2021
ESG credentials in demand by pension funds

Survey finds most institutional investors look for sustainable investing and diversity criteria when hiring equity managers.

By Bloomberg
Cetera to buy Voya Financial Advisors' broker-dealer reps and assets
INDEPENDENT BROKER DEALERS FEB 08, 2021
Cetera to buy Voya Financial Advisors' broker-dealer reps and assets

Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.

By Bruce Kelly
Talent fight erupts as Wells Fargo exits foreign wealth business
WIREHOUSES FEB 08, 2021
Talent fight erupts as Wells Fargo exits foreign wealth business

UBS, Banco BTG Pactual, Insigneo and Andbank are among those seeking to hire from the roughly 330 advisers who were part of Wells' international wealth unit.

By Bloomberg
Elevating wealth for women
FINTECH FEB 08, 2021
Elevating wealth for women

Ellevest CEO Sallie Krawcheck goes beyond investment management and traditional financial planning to help female clients be strategic about career paths, salary negotiations and other topics that provide real value.

By Nicole Casperson
Welcoming the return of industry conferences
OPINION FEB 08, 2021
Welcoming the return of industry conferences

Betting that conditions will improve and restrictions be lessened in coming months, a sprinkling of fintech companies and others in and around the financial advice business have announced a resumption of live conferences to be held later in the year.

By InvestmentNews
Leaders need new skills to support their diverse workforce
OPINION FEB 06, 2021
Leaders need new skills to support their diverse workforce

As society becomes less racially and ethnically homogenous, leaders must develop new skills to support their diverse workforce. This includes acting as mentor, visionary and ally combined

By Cheryl Cole
Three principles for inclusive leadership
OPINION FEB 06, 2021
Three principles for inclusive leadership

I will outline three leadership principles and associated tactics that increase diverse representation, expand equity and enhance inclusion.

By Shundrawn Thomas
FSI opposes union organizing bill because of potential effect on advisers
INDEPENDENT BROKER DEALERS FEB 05, 2021
FSI opposes union organizing bill because of potential effect on advisers

A change in test governing whether workers are classified as employees or independent contractors could upend the business models of FSI members.

By Mark Schoeff Jr.
HSAs cut into 401(k) contributions: Report
RETIREMENT PLANNING FEB 05, 2021
HSAs cut into 401(k) contributions: Report

Health savings accounts can be one of the best ways to save for retirement. But the money to fund them must come from somewhere, and for many, the most obvious place appears to be the 401(k).

By Emile Hallez
Two-thirds of Americans sat tight financially during pandemic
RETIREMENT PLANNING FEB 05, 2021
Two-thirds of Americans sat tight financially during pandemic

Relatively few people tapped their retirement accounts, but 20% drew on their emergency savings and 18% increased their credit card debt.

By InvestmentNews
Increasing diversity increases diversity of thought
OPINION FEB 05, 2021
Increasing diversity increases diversity of thought

It’s important to form a pipeline so that younger minorities can be aware of the finance industry’s prospects and become educated on money matters and career opportunities within the finance industry.

By InvestmentNews Staff
Cryptocurrency hedge fund founder admits to massive fraud
REGULATION AND LEGISLATION FEB 05, 2021
Cryptocurrency hedge fund founder admits to massive fraud

Stefan He Qin stole investor money from his Virgil Sigma Fund and attempted to dip into his VQR Multistrategy Fund to pay back investors in the first fund, prosecutors say.

By Bloomberg