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INDUSTRY NEWS JUL 13, 2017
Protecting your kids from identity theft

Once they have a child's Social Security number, hackers can apply for government benefits, open bank and credit card accounts, apply for a loan or rent a place to live.

By Bloomberg
RETIREMENT PLANNING JUL 13, 2017
Why Americans can't seem to retire

The share of older people in the workforce is higher than at any point since before the creation of Medicare.

By Bloomberg
RETIREMENT PLANNING JUL 13, 2017
Social Security reserves still expected to be depleted by 2034: annual report

Depletion of Disability (DI) trust fund pushed back five years due to a temporary increase of its share of the payroll tax.

By Mary Beth Franklin
RETIREMENT PLANNING JUL 13, 2017
Appointing and monitoring a 401(k) investment manager under ERISA

A recent district court decision has implications for how retirement plan sponsors should monitor their adviser.

By Marcia S. Wagner
REGULATION AND LEGISLATION JUL 13, 2017
Democrats diss draft legislation to scrap DOL fiduciary rule, set best-interest advice standard for brokers

Bill's sponsor, Republican Rep. Ann Wagner, still hopes to get bipartisan support.

By Mark Schoeff Jr.
RIAS JUL 13, 2017
In states slow to recover economically, advisers sometimes have to be the bearers of bad news

Recommendations include staying in jobs longer, moving to less expensive houses and even relocating out of state.

By Liz Skinner
LIFE INSURANCE AND ANNUITIES JUL 13, 2017
Manulife weighs a John Hancock IPO or spin-off

Persistently low interest rates have hammered insurance company profitability.

By InvestmentNews
INDUSTRY NEWS JUL 13, 2017
Vanguard CEO McNabb to step down

Tim Buckley, firm's current chief investment officer, will become president immediately and take the chief executive role Jan. 1.

By Bloomberg
RETIREMENT PLANNING JUL 13, 2017
LPL to roll out new mutual fund platform as DOL fiduciary rule takes effect

Broker-dealer hasn't yet determined whether the platform will be mandatory when it launches next year, given the fluid regulatory environment.

By Greg Iacurci
PRACTICE MANAGEMENT JUL 12, 2017
Finra hits State Street with $1.5 million fine for electronic record-keeping violations

Regulator censured the firm for failing to maintain copies of messages.

By InvestmentNews
MUTUAL FUNDS JUL 12, 2017
Asset management revenue, profits down in 2016 for first time since 2008

Investors are increasingly shifting their money to passively managed strategies.

By Bloomberg
RIAS JUL 12, 2017
Former broker gets 30 months for defrauding investors

Stephen Eubanks of Hingham, Mass., claimed to be an RIA running a hedge fund.

By InvestmentNews
RIAS JUL 12, 2017
New aggregator takes stake in three RIAs managing $11 billion

Wealth Partners Capital buys into Forbes Family Trust, MAI Capital and EP Wealth Advisors.

By InvestmentNews
RIAS JUL 12, 2017
Mercer Advisors acquires $160 million RIA

Wealth Design Services in Rochester, New York, also provides tax services.

By InvestmentNews
INDUSTRY NEWS JUL 12, 2017
Merrill Lynch brokers managing $1 billion move to UBS

Cincinnati sister-brother team and duo in Michigan shift firms.

By InvestmentNews
REGULATION AND LEGISLATION JUL 12, 2017
SEC's Jay Clayton makes fiduciary duty a priority, acknowledges issue is 'complex'

In his first major speech as agency chairman, he says a guiding principle is 'long-term interests of Mr. and Ms. 401(k).'

By Mark Schoeff Jr.
PRACTICE MANAGEMENT JUL 12, 2017
Seeking to protect client assets, SEC may have hurt the client

The custody rule can put unnecessary burdens on both the adviser and the client.

By Edward H. Klees and James W. Van Horn, Jr.
REGULATION AND LEGISLATION JUL 12, 2017
Promises by Congress to protect retirement-savings incentives don't ease advocates

Concern about 'Rothification' as part of larger tax reform spurs lobbying.

By Mark Schoeff Jr.
REGULATION AND LEGISLATION JUL 11, 2017
Rep. Wagner drafts bill to kill DOL fiduciary rule, replace it with best-interest standard

Legislation would require brokers to 'avoid, disclose or otherwise reasonably manage' conflicts of interest.

By Mark Schoeff Jr.
RIAS JUL 11, 2017
Merrill Lynch loses $1 billion Beverly Hills team

Matthew Calenza forms Boulevard Family Wealth RIA.

By InvestmentNews