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Morgan Stanley duo managing $380 million goes indie with LPL
ADVISOR MOVES APR 20, 2022
Morgan Stanley duo managing $380 million goes indie with LPL

Chad Keeler, Brock Rouch set up Platte River Private Wealth in Casper, Wyoming.

By InvestmentNews
GWG Holdings files for bankruptcy
ALTERNATIVES APR 20, 2022
GWG Holdings files for bankruptcy

The market has been anticipating the move for more than two weeks; the company has struggled of late and repeatedly missed the deadline to file audited financial statements in the past couple of years.

By Bruce Kelly
Independent paths for advisers managing more than $500 million
OPINION APR 20, 2022
Independent paths for advisers managing more than $500 million

Here are the four options that provide the highest level of freedom and control for advisers managing more than $500 million.

By Joshua Tomolak
Orion buys CRM provider Redtail
FINTECH APR 19, 2022
Orion buys CRM provider Redtail

The transaction is expected to close in the second quarter, with Redtail CEO Brian McLaughlin becoming president of Orion.

By InvestmentNews
Millennials save for retirement years earlier than boomers
RETIREMENT PLANNING APR 19, 2022
Millennials save for retirement years earlier than boomers

Schwab study shows the YOLO generation is beating boomers when it comes to starting and stuffing their 401(k)s.

By Bloomberg
LPL creates paraplanning unit to help advisers build plans
BROKER DEALERS APR 19, 2022
LPL creates paraplanning unit to help advisers build plans

Team of paraplanners will gather data and input it into planning software to provide financial plans for advisers' clients.

By InvestmentNews
Cannabis investments mellow as Congress tarries on decriminalization
EQUITIES APR 19, 2022
Cannabis investments mellow as Congress tarries on decriminalization

With the Biden administration having let them down, the marijuana industry is now betting on a Republican takeover of Congress.

By Jeff Benjamin
Retirement savers stayed the course in 2021 despite pandemic
RETIREMENT PLANNING APR 19, 2022
Retirement savers stayed the course in 2021 despite pandemic

Only small fractions of workers took withdrawals from or stopped contributing to their company plans last year, according to an Investment Company Institute study.

By Mark Schoeff Jr.
Finra bars no-show rep fired for fake account statements
PRACTICE MANAGEMENT APR 19, 2022
Finra bars no-show rep fired for fake account statements

The rep, Philip Riposo of New Bedford, Massachusetts, admitted to creating and providing clients with phony statements.

By Bruce Kelly
Former Morgan Stanley adviser accused of Ponzi scheme in SEC suit
REGULATION AND LEGISLATION APR 19, 2022
Former Morgan Stanley adviser accused of Ponzi scheme in SEC suit

Shawn E. Good, from Wilmington, North Carolina, had clients send funds to his personal bank account to supposedly make low-risk investments in real-estate development projects,

By Bloomberg
AI can help amid industry consolidation, staffing shortages
OPINION APR 19, 2022
AI can help amid industry consolidation, staffing shortages

While artificial intelligence is often seen as a job killer, the Great Resignation has spotlighted the limitations of support and integration operations reliant on traditional workforces and approaches.

By Sindhu Joseph
Lessons from journalism: Pay your diverse talent
OPINION APR 19, 2022
Lessons from journalism: Pay your diverse talent

It’s important that we avoid the pay perils of journalism and make good on our promise to help diverse individuals build generational wealth.

By Ana Trujillo Limon
Social Security rules when divorcing a younger husband
RETIREMENT PLANNING APR 18, 2022
Social Security rules when divorcing a younger husband

An ex-wife must wait for her former husband to turn 62 to claim benefits on his record.

By Mary Beth Franklin
SEC freezes assets of alleged $449 million Ponzi schemers
REGULATION AND LEGISLATION APR 18, 2022
SEC freezes assets of alleged $449 million Ponzi schemers

Three in Las Vegas charged in scheme involving purported personal injury settlements.

By InvestmentNews
Mortgage rate spike changes house-hunting strategy
INDUSTRY NEWS APR 18, 2022
Mortgage rate spike changes house-hunting strategy

Some hopeful first-time buyers may have to downsize their dream home with 30-year mortgage rates at their highest level since 2011.

By Mark Schoeff Jr.
Former UBS adviser pleads guilty to $5.8 million fraud
REGULATION AND LEGISLATION APR 18, 2022
Former UBS adviser pleads guilty to $5.8 million fraud

South Florida resident German Nino, who faces up to 60 years in jail, is scheduled for sentencing in June.

By InvestmentNews
Supreme Court rejects state challenge to SALT deduction cap
REGULATION AND LEGISLATION APR 18, 2022
Supreme Court rejects state challenge to SALT deduction cap

The court refused to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed in the 2017 tax law.

By Bloomberg
Bank of America wealth group sees head count drop as revenues climb
ALTERNATIVES APR 18, 2022
Bank of America wealth group sees head count drop as revenues climb

Adviser ranks are falling, but the bank reports 7,800 net new client relationships and a growing thirst for alternative investments.

By Jeff Benjamin
Goldman Sachs sees US recession odds at 35% in next two years
FINTECH APR 18, 2022
Goldman Sachs sees US recession odds at 35% in next two years

The Fed’s main challenge is to reduce the gap between jobs and workers, and to slow wage growth to a pace consistent with its 2% inflation goal.

By Bloomberg
Has the SEC reached peak politicization?
REGULATION AND LEGISLATION APR 18, 2022
Has the SEC reached peak politicization?

The SEC's growing political rift reflects Washington's widening partisanship and threatens to diminish the agency's stature.

By Mark Schoeff Jr.