Advisor News

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5 industry trends that could continue in the new decade
OPINION FEB 03, 2020
5 industry trends that could continue in the new decade

Many of last year's trends in the financial advice industry will be front and center again this year, including consolidation, fees and fiduciary regulation

By Jamie Hopkins
Advisers want age to continue to climb for mandatory retirement savings withdrawals
RETIREMENT PLANNING JAN 31, 2020
Advisers want age to continue to climb for mandatory retirement savings withdrawals

The SECURE Act raised the age to 72 from 70 1/2; another bill would boost it to 75

By Mark Schoeff Jr.
Financial advisers continued to bolt from Wall Street in 2019
INDEPENDENT BROKER DEALERS JAN 31, 2020
Financial advisers continued to bolt from Wall Street in 2019

Independent broker-dealers and RIAs scored sizable net gains of advisers at Wall Street's expense

By Bruce Kelly
LPL to broaden recruiting reach in 2020
INDEPENDENT BROKER DEALERS JAN 31, 2020
LPL to broaden recruiting reach in 2020

CEO Dan Arnold says the firm recruited advisers with $35 billion in AUM last year, a new annual high

By Bruce Kelly
Former Pennsylvania broker convicted on 11 counts of wire and mail fraud
REGULATION AND LEGISLATION JAN 31, 2020
Former Pennsylvania broker convicted on 11 counts of wire and mail fraud

Anthony Diaz faces 220 years in jail for filing paperwork inflating clients’ net worth

By InvestmentNews
Citi partners with Invesco's Jemstep to launch robo-adviser
FINTECH JAN 30, 2020
Citi partners with Invesco's Jemstep to launch robo-adviser

Citi Wealth Builder will be free for clients with at least $50,000 at the bank

By Ryan W. Neal
As Voya Financial sells off insurance groups, attention turns to its broker-dealer
INDEPENDENT BROKER DEALERS JAN 30, 2020
As Voya Financial sells off insurance groups, attention turns to its broker-dealer

Voya Financial Advisors faces questions about its future as parent restructures

By Bruce Kelly
401(k) savings up, but still too low: Fidelity survey
RETIREMENT PLANNING JAN 30, 2020
401(k) savings up, but still too low: Fidelity survey

Most Americans are aware they save too little for retirement, giving themselves a letter grade of "C" or lower

By Emile Hallez
Finra censures Wells Fargo for failure to stop rep's churning
WIREHOUSES JAN 30, 2020
Finra censures Wells Fargo for failure to stop rep's churning

Firm was also fined $175,000 after rep's 88-year-old client paid $300,000 in commissions

By InvestmentNews
Catalyst Capital Advisors to pay $1.3 million in CFTC settlement
REGULATION AND LEGISLATION JAN 30, 2020
Catalyst Capital Advisors to pay $1.3 million in CFTC settlement

The firm also will disgorge almost $9 million over misstatements about its futures fund

By InvestmentNews
Secure Act's big impact on affluent clients
RIA NEWS JAN 30, 2020
Secure Act's big impact on affluent clients

The massive changes to the rules around retirement savings are creating opportunities for advisers

By Emile Hallez
8 predictions for IBDs in 2020
RIA NEWS JAN 29, 2020
8 predictions for IBDs in 2020

This year, independent broker-dealers will be watching such trends as merger madness, competitive recruiting costs and the arrival of Reg BI

By Bruce Kelly and Mark Schoeff Jr.
Fidelity adds fractional share trading to retail online brokerage
FINTECH JAN 29, 2020
Fidelity adds fractional share trading to retail online brokerage

The company is gauging adviser demand before making the capability available on Fidelity's custody and clearing platform

By Ryan W. Neal
Schwab’s Intelligent Income is an important advance, but only if all your money is at Schwab
OPINION JAN 29, 2020
Schwab’s Intelligent Income is an important advance, but only if all your money is at Schwab

Be on the lookout for more firms to offer income solutions that don’t require investors to sell assets at a large cost

By Jack Sharry
Former adviser blames paperwork in fraud trial
REGULATION AND LEGISLATION JAN 29, 2020
Former adviser blames paperwork in fraud trial

Anthony Diaz faces fraud charges stemming from sales of REITs and annuities

By Bruce Kelly
Stevens led ICI through era of turbulent policy, strong growth in mutual funds
MUTUAL FUNDS JAN 29, 2020
Stevens led ICI through era of turbulent policy, strong growth in mutual funds

As he announces his retirement, Stevens defines the trade association’s hallmark during his tenure: ‘We try to bring facts to the table.’

By Mark Schoeff Jr.
Finra fines rep for borrowing $150,000 from 90-year-old customer
RETIREMENT PLANNING JAN 29, 2020
Finra fines rep for borrowing $150,000 from 90-year-old customer

Kerry Wills also accepted $19,500 in luxury travel gifts he didn’t disclose

By InvestmentNews
Not ready to retire? Consider the sell-and-stay approach
OPINION JAN 29, 2020
Not ready to retire? Consider the sell-and-stay approach

If RIA founder/owners want to keep working but worry the red-hot M&A market will run out of steam, there's a third option

By Carolyn Armitage
Planning for a 21st century retirement
OPINION JAN 28, 2020
Planning for a 21st century retirement

Working longer and delaying Social Security can significantly boost retirees' income

By Mary Beth Franklin
FSI denounces ‘regulation by enforcement’ despite strong rebuke from SEC's Jackson
INDEPENDENT BROKER DEALERS JAN 28, 2020
FSI denounces ‘regulation by enforcement’ despite strong rebuke from SEC's Jackson

Group says Reg BI enforcement probably won’t draw same criticism as share-class crackdown

By Mark Schoeff Jr.