From financial literacy to rules for claiming Social Security at 70, here are the InvestmentNews stories that were most popular with readers this year.
Former financial adviser Dawn Bennett was sentenced to 20 years in federal prison for her conviction on 17 federal charges related to a $20 million Ponzi scheme.
By now, most financial advisers and many consumers realize that delaying Social Security benefits until age 70 can pay off big time. For every year individuals postpone claiming benefits beyond their full retirement age, they earn an extra 8% per year up to age 70.
Envestnet CEO Judson Bergman, 62, and his wife, Mary Miller, were killed in an early morning automobile accident in San Francisco. Mr. Bergman founded Envestnet in 1999 to create a software desktop for independent financial advisers.
Lacking the skills needed to make informed financial decisions hurts individuals and the economy. What can advisers do to help?
Fidelity Investments has been sued by a 401(k)-plan participant for accepting "secret payments" from certain retirement-plan business partners, allegedly allowing it to reap larger profits at the expense of its customers' retirement savings.
As is typically the case when equity markets turn choppy, financial advisers are paying closer attention to the yields their clients are earning when they turn to the safety of cash. But for custodians and brokerage platforms that often default cash to low-yielding accounts, an increased focus on cash by advisers is tantamount to poking the bear.
The new SECURE Act that was passed overwhelmingly by the House in a 417-3 vote on May 23 contains a provision to eliminate the stretch IRA and replace it with a 10-year payout for most non-spouse beneficiaries, including trusts.
In the age of #MeToo movements and campaigns for diversity and inclusion across the financial services industry, Ken Fisher, founder and chairman of Fisher Investments, has been accused of brazenly violating the limits of good taste and decorum during a presentation at an industry event this week.
Bank of America's decision to move 300 Merrill Edge advisers into its Merrill Lynch Wealth Management branch offices didn't attract much attention. But 10 years from now, people might point to it as a watershed moment in the evolution of compensation for financial advisers at major brokerage firms.
The Social Security Administration announced that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment posted this year. It marks the smallest annual increase in Social Security benefits and payroll taxes since 2017, when the COLA was 0.3%.
“It’s time for an economic reset,” wrote the California governor, in a post on X.
Masterworks was launched in 2017 but its RIA, Masterworks Advisers, is just three years old.
One 2017 form, no broker license, and a $42 million gap they say surfaced on a webinar.
Fewer than half of Americans in their peak earning years feel on track for retirement, while many say limited financial knowledge and access to professional guidance are holding them back.
Meanwhile, Wells Fargo hauled advisors overseeing $825 million in the West Coast, while Wedbush has welcomed a seasoned professional from Stifel in California.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
