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Congress reaches deal on $900 billion pandemic relief plan
INDUSTRY NEWS DEC 21, 2020
Congress reaches deal on $900 billion pandemic relief plan

The plan would provide direct payments of $600 to most Americans and $300-per-week in enhanced unemployment benefits through March, according to lawmakers and aides

By Bloomberg
Bill seeks to open multiple-employer plans to 403(b)s
RETIREMENT PLANNING DEC 21, 2020
Bill seeks to open multiple-employer plans to 403(b)s

The measure follows legislation that would let nonprofits participate in pooled employer plans

By Emile Hallez
Finra hits Transamerica with $8.8 million sanction
LIFE INSURANCE AND ANNUITIES DEC 21, 2020
Finra hits Transamerica with $8.8 million sanction

The settlement includes $4.4 million in restitutions to harmed customers over the sales of unsuitable VA, mutual fund and 529 products

By Mark Schoeff Jr.
Brokers, tell the B-D when selling cannabis investments
OPINION DEC 21, 2020
Brokers, tell the B-D when selling cannabis investments

Don't risk letting your career go up in smoke

By Bruce Kelly
INmail: When lump-sum payouts make sense
RETIREMENT PLANNING DEC 21, 2020
INmail: When lump-sum payouts make sense

Requesting a lump payout can make sense for some people.

By Mary Beth Franklin
J.P. Morgan rep managing $425 million joins LPL indie group
RIAS DEC 21, 2020
J.P. Morgan rep managing $425 million joins LPL indie group

Bryan Schneider affiliates through Professional Wealth Advisor in Downers Grove, Illinois

By InvestmentNews
Yellen pressed to back strong dollar in reverse of Trump-era tone
INDUSTRY NEWS DEC 21, 2020
Yellen pressed to back strong dollar in reverse of Trump-era tone

The greenback’s tumble this year — it’s heading for the second-biggest drop in the past decade — has already stoked foreign policy makers’ concerns

By Bloomberg
Trump administration pushes regulations across finish line in waning days
REGULATION AND LEGISLATION DEC 21, 2020
Trump administration pushes regulations across finish line in waning days

DOL rules affecting investment advice and the use of ESG factors may be vulnerable under Biden

By Mark Schoeff Jr.
Darlings of 2020, ETFs expected to carry momentum into 2021
MUTUAL FUNDS DEC 21, 2020
Darlings of 2020, ETFs expected to carry momentum into 2021

Strong performance and low fees means the next leg of ETF growth might be just getting started

By Jeff Benjamin
A watershed year for wealthtech adoption
FINTECH DEC 21, 2020
A watershed year for wealthtech adoption

A confluence of environmental changes, like work from home orders, virtual events and an economic recession, have forced advisers to embrace tech tools in a matter of months

By Nicole Casperson
State fiduciary rules slow down amid pandemic, political transition
PRACTICE MANAGEMENT DEC 21, 2020
State fiduciary rules slow down amid pandemic, political transition

Efforts to implement fiduciary rules in New Jersey, Nevada and Massachusetts are in limbo

By Mark Schoeff Jr.
RBC's Women's Association celebrates 30th anniversary
INDUSTRY NEWS DEC 19, 2020
RBC's Women's Association celebrates 30th anniversary

Kristen Kimmell and Maureen Kerrigan of RBC join the podcast to discuss RBC’s Women’s Association of Financial Advisors and the initiatives the firm has implemented to benefit women in financial services.

By InvestmentNews
Why a new Betterment chief could usher in an IPO
RIAS DEC 18, 2020
Why a new Betterment chief could usher in an IPO

Founder Jon Stein wasn’t able to achieve his ultimate goal of an initial public offering, but he transformed the little-known New York-based fintech into a digital behemoth

By Sean Allocca
Robinhood under pressure for bringing ‘gamification’ to investing
FINTECH DEC 18, 2020
Robinhood under pressure for bringing ‘gamification’ to investing

The free trading app has been applauded for democratizing the market but critics, and regulators, are starting to take a closer look

By Nicole Casperson
What advisers need to know about the new DOL rule
RIAS DEC 18, 2020
What advisers need to know about the new DOL rule

The new interpretation on the definition of advice has some benefits for plan advisers, and it will be in place even if the rule is halted

By Emile Hallez
What Tesla's entry into the S&P 500 means for portfolios
INDUSTRY NEWS DEC 18, 2020
What Tesla's entry into the S&P 500 means for portfolios

The move marks the single largest addition in the history of the index

By Jeff Benjamin
Merrill Lynch duo managing $200 million joins indie team
BROKER DEALERS DEC 18, 2020
Merrill Lynch duo managing $200 million joins indie team

Patrick Fontana and Michael Dunham move to Raymond James affiliate in Dallas

By InvestmentNews
Robinhood isn't gamifying the markets. It's democratizing them
OPINION DEC 18, 2020
Robinhood isn't gamifying the markets. It's democratizing them

The fintech led a movement to virtually eliminate commissions, cut racial investing disparities in half and dramatically increase stock ownership among investors

By Aaron Brown
Citadel trading chief says Tesla poses risk to other S&P 500 stocks
INDUSTRY NEWS DEC 18, 2020
Citadel trading chief says Tesla poses risk to other S&P 500 stocks

As funds that track the benchmark add the carmaker’s shares, they will dump an equal amount of stock in existing members, producing intense selling pressure

By Bloomberg
BlackRock sees 'advantageous' trade in dividend stocks next year
INDUSTRY NEWS DEC 18, 2020
BlackRock sees 'advantageous' trade in dividend stocks next year

Dividend payers are back in favor and may continue to beat bonds in a world of historically low rates

By Bloomberg