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Powell says Fed's taper could start this year
INDUSTRY NEWS AUG 27, 2021
Powell says Fed's taper could start this year

While the central bank could begin reducing its monthly bond purchases this year, the Fed chairman said it won't be in a hurry to begin raising interest rates.

By Bloomberg
Deutsche Bank’s DWS rejects claims it overstated ESG assets
ESG AUG 27, 2021
Deutsche Bank’s DWS rejects claims it overstated ESG assets

On Thursday, the asset manager's shares had plunged as much as 14.2% on the news that Germany’s financial markets regulator, BaFin, and U.S. prosecutors were probing claims by a former sustainability executive that DWS overstated the amount of assets adhering to social and environmental criteria.

By Bloomberg
SEC hints at tougher regulation of online brokers
REGULATION AND LEGISLATION AUG 27, 2021
SEC hints at tougher regulation of online brokers

The agency issued a wide-ranging request for comment on how online brokerages use game-like features and other tools to attract investors.

By Bloomberg
As Covid cancels industry events, advisers weigh  attending what's left
PRACTICE MANAGEMENT AUG 27, 2021
As Covid cancels industry events, advisers weigh attending what's left

FPA is cancelled, but Morningstar is still on track. The industry is on edge over how to proceed in the most responsible fashion possible.

By Jeff Benjamin
Tired of being on camera? You’re not alone
RETIREMENT PLANNING AUG 27, 2021
Tired of being on camera? You’re not alone

Being on video caused workers to become disengaged and participate less than if they spent the meeting off-camera, a recent study found.

By Emile Hallez
Average fund expense ratio now 0.41%, Morningstar finds
RETIREMENT PLANNING AUG 27, 2021
Average fund expense ratio now 0.41%, Morningstar finds

The average expense ratio on funds last year was less than half of what it was in 2000, according to Morningstar's annual study of fund fees.

By InvestmentNews
A father-son $500 million duo at Merrill Lynch moves to RBC
PRACTICE MANAGEMENT AUG 27, 2021
A father-son $500 million duo at Merrill Lynch moves to RBC

John and Ryan Birkhauser and their team are based in Lake Forest, Illinois.

By InvestmentNews
Clients both happy and unhappy
OPINION AUG 27, 2021
Clients both happy and unhappy

My happiest client thinks I’m a true investment genius. My unhappiest is, of course, no longer my client.

By Michael Broad
Captrust acquires Chicago RIA Ellwood Associates
RETIREMENT PLANNING AUG 26, 2021
Captrust acquires Chicago RIA Ellwood Associates

The deal for Ellwood, which oversees $85 billion in assets, will expand Captrust's services for endowments and foundations.

By InvestmentNews
DOL should take cue from other nations to clear up 401(k) fees: GAO
RETIREMENT PLANNING AUG 26, 2021
DOL should take cue from other nations to clear up 401(k) fees: GAO

Only about a third of U.S. savers are even aware that they pay fees on their retirement plans, a new report from the GAO found.

By Emile Hallez
How 401(k) record keepers not part of the Fab Five can survive
RETIREMENT PLANNING AUG 25, 2021
How 401(k) record keepers not part of the Fab Five can survive

There are more than 40 national record keepers, with plenty of capacity for all. And some providers are uniquely positioned.

By Fred Barstein
Serial spouse has several Social Security claiming options
TAX AUG 25, 2021
Serial spouse has several Social Security claiming options

The woman, who's twice divorced and widowed, can select the biggest of the benefits available.

By Mary Beth Franklin
Barbara Roper to serve as senior adviser to SEC chair
REGULATION AND LEGISLATION AUG 25, 2021
Barbara Roper to serve as senior adviser to SEC chair

Gary Gensler calls consumer advocate Roper 'a champion for investors'; she has worked for 35 years at the Consumer Federation of America.

By InvestmentNews
Franklin Templeton builds on its tech for 401(k) managed accounts
RETIREMENT PLANNING AUG 25, 2021
Franklin Templeton builds on its tech for 401(k) managed accounts

The company recently announced partnerships with Stadion and vWise for its Goals Optimization Engine.

By Emile Hallez
More businesses plan to increase employee benefits
LIFE INSURANCE AND ANNUITIES AUG 25, 2021
More businesses plan to increase employee benefits

Telehealth was the benefit that the most firms plan to increase, while 60% of those surveyed currently offer financial wellness.

By InvestmentNews
SEC obtains emergency relief to stop $110 million Ponzi scheme
RIAS AUG 25, 2021
SEC obtains emergency relief to stop $110 million Ponzi scheme

Federal court freezes the assets of Marietta, Georgia, registered investment adviser John Woods.

By InvestmentNews
Wells Fargo duo managing $235 million go indie
BROKER DEALERS AUG 25, 2021
Wells Fargo duo managing $235 million go indie

The two advisers are affiliating with LPL Financial through its service for breakaway brokers.

By InvestmentNews
Goldman requires vaccines and masks at work
INDUSTRY NEWS AUG 25, 2021
Goldman requires vaccines and masks at work

The firm that led Wall Street's return to the office responds to the spread of the highly contagious delta variant with more stringent safety measures.

By Bloomberg
LPL, Commonwealth start to gain traction with wirehouse reps
BROKER DEALERS AUG 24, 2021
LPL, Commonwealth start to gain traction with wirehouse reps

For decades, the prevailing wisdom among recruiters and industry executives has been that wirehouse advisers are far less likely to move to independent broker-dealers than other advisers.

By Bruce Kelly
The sky's the limit for an adviser dedicated to working with airline pilots
RIAS AUG 24, 2021
The sky's the limit for an adviser dedicated to working with airline pilots

Bob Warner's focus on airline pilots is a model for how niche practices can develop and thrive. His $15 billion RIA has been building relationships with pre-retired pilots for more than two decades.

By Jeff Benjamin