Health savings accounts, often confused with flexible spending accounts, are prized for their tax leniency. But many things hold them back, including the high-deductible health plans to which they are tethered.
Pittsburgh-based PWA Wealth Management was founded in 2003 and advises individuals, small business owners and institutional clients.
Market volatility related to a surge in trading of shorted stocks has drawn the attention of regulators and lawmakers. But it’s not clear whether there's a role for them to play.
Across age, income and education levels, people who are still paying down college debt on average had much smaller defined-contribution plan balances and in some cases were less likely to own a home, according to a study from the Employee Benefit Research Group.
The real fun is just getting started, now that everybody and their mother knows what a short squeeze is.
Moody's Investors Service this month gave a shot in the arm to the parents of Advisor Group and Cetera Financial Group when it raised its credit outlook from negative to stable for both. Advisor Group is home to 10,500 reps and advisers and Cetera has about 7,500 under its roof.
Robinhood drew millions from bank credit lines as well as raising more than $1 billion from its existing investors.
While users of the trading platforms claim in court filings that they suffered losses from the restrictions, legal experts say brokerages have broad powers to block or restrict transactions — all of which is spelled out as part of customer agreements everyone signs to gain access to the services.
The company was far from being the first to register with the Department of Labor as a pooled plan provider. But its fully bundled service, which includes administration, fiduciary oversight and the plan’s investments, indicates that Fidelity is confident that it will not run afoul of the regulator.
The so-called short squeeze that drives up share prices by forcing investors betting on a stock to go down to buy more of it to hedge potential losses is not new to the 2020s, but it is easier to execute.
In addition changing Reg BI's nomenclature, the Institute for the Fiduciary Standard called for eliminating some broker conflicts of interest, such as compensation incentives for product sales, revising the disclosure Form CRS and clarifying that investment advisers must avoid conflicts of interest rather than just disclosing them.
Fresno, California-based SCF has 150 affiliated reps; once the deal closes, Atria will have more than 2,500 reps and nearly $95 billion in assets.
The deal for Florida-based Fulcrum Partners will expand the footprint of the giant insurance broker’s registered investment adviser.
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
Atlanta-based broker Tyler Delahunt had been discharged by the wirehouse over alleged outside investments.
An initial public offering of a stake in Jackson, one of the biggest annuities providers in the U.S., will be held in the first half of 2021, according to a Prudential statement.
Clients can still call their advisers to initiate trades in those stocks, a bank spokesperson said. Both companies' shares have surged amid a push from retail traders.
The market frenzy was spurred by social media posts from prominent CEOs and internet influencers. The tweets and threads created internet mayhem and ultimately pushed the video game retail business to a $24 billion market cap.
The agency is likely parsing the activity to see if there’s deliberate manipulation or collateral effects more broadly on stock prices. Shares of the video game and consumer electronics retailer soared 93% on Tuesday and are up more than eightfold for the month.
The brokers with outages or problems include the most prominent names in the discount and online brokerage industry, including Fidelity, the Charles Schwab Corp., TD Ameritrade, ETrade Financial Corp. and Robinhood.
