The Labor Department's fiduciary rule and the SEC's Reg BI pose a real threat to the retirement savings of investors, but the Biden administration can put an end to the threat.
As scrutiny of the online brokerage mounts and as it prepares for an IPO expected later this year, it has recruited two officials from its front-line regulator.
The bank is reportedly in talks to sell the unit to a private equity consortium led by GTCR and Reverence Capital Partners.
“We need comprehensive capital gains reform,” incoming Senate Finance Committee Chairman Ron Wyden, D-Ore., said. “This is a kitchen-table issue.”
The majority of U.S. households, even those that save and invest diligently, place the bulk of their investible assets in tax-deferred retirement accounts and bank accounts, while ignoring 'middle liquidity' options, the report published by Hearts & Wallets notes.
In a curious development to a strange, twisting tale, Butowsky, managing director of Chapwood Capital Investment Management, offered an apology to the brother of former DNC staffer Seth Rich on Twitter — then deleted the tweet.
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
Two pairs of advisers in Lincoln, Nebraska, make the move, along with their staffs.
West Texas WealthCare will use JFC Financial as its office of supervisory jurisdiction.
Firm announces it will work with digital payments upstart Marqeta on Marcus checking accounts. Marqeta's CEO says Goldman plans to use the firm's technology to issue debit cards into mobile wallets.
Pooled employer plans, or PEPs, could dramatically change the 401(k) business, but only if employers decide to adopt them.
The bank is combining its consumer wealth management and private banking units into a single entity, encompassing operations handling money for clients with $200,000 to tens of millions, or much more. The new business will be led by Jim O'Donnell.
Financial wellness programs depend on data about what workers need, but employees may have concerns about the privacy of their personal information.
The brokerage said a "hyper-partisan environment" led to its decision to stop contributing to political campaigns. However, the company will continue to lobby lawmakers in Washington.
The firm's acquisition of the record keeper may be a harbinger for other distributors. Does Raymond James see opportunities to monetize participants in retirement plans, especially given the launch of pooled employer plans?
That guidance comes years after it was requested by industry groups. The Department of Labor regularly investigates employers for the issue of missing participants, but until now it hadn't provided clear steps on how to remedy the problem.
Washington trade associations that represent financial firms and advisers are wrestling with whether and how to change their political action committee policies on donations in the wake of the riot at the U.S. Capitol.
Boston-based Alpha is a retirement consulting firm with 572 clients and about $2.9 billion in assets.
Future innovations in DC plans will come as much from retirement plan advisers and their clients as from the institutional market.
Eldridge and Atlas Merchant Capital combine forces in the latest example of private equity firms taking stakes in the wealth management industry.
