RIA News

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Morgan Stanley study shows employees seeking beefed-up benefits
RETIREMENT PLANNING SEP 22, 2022
Morgan Stanley study shows employees seeking beefed-up benefits

Sixty percent of workers say they're focusing more on their financial benefits compared to a year ago, according to the firm's survey.

By Gregg Greenberg
Recession may be necessary trade-off to regain control of inflation, warns Powell
RIA NEWS SEP 22, 2022
Recession may be necessary trade-off to regain control of inflation, warns Powell

Federal Reserve officials raised rates 75 basis points and forecast a further 1.25 percentage points of tightening before year end.

By Bloomberg
Fed hikes interest rates by 75 basis points for the third consecutive time
RIA NEWS SEP 21, 2022
Fed hikes interest rates by 75 basis points for the third consecutive time

The decision to raise rates was unanimous and officials forecast they would reach 4.6% in 2023.

By Bloomberg
State regulators see decline in enforcement actions
REGULATION AND LEGISLATION SEP 21, 2022
State regulators see decline in enforcement actions

But NASAA reports increase in both fines and restitution in 2021, with states collecting $145 million in fines and returning $312 million to investors.

By Mark Schoeff Jr.
Independent Financial Group snaps up small Southern California B-D
INDEPENDENT BROKER DEALERS SEP 21, 2022
Independent Financial Group snaps up small Southern California B-D

The deal for NPB Financial Group in Burbank is the latest in a modest string of broker-dealer acquisitions occurring against the backdrop of the red-hot M&A market for RIAs.

By Bruce Kelly
NAPA unveils new adviser designation for nonqualified plans
RETIREMENT PLANNING SEP 21, 2022
NAPA unveils new adviser designation for nonqualified plans

The credential will confirm an adviser’s expertise in working with nonqualified deferred compensation and executive compensation plans.

By Gregg Greenberg
Equitable, American Century prepare for SECURE 2.0 with new retirement tools
RETIREMENT PLANNING SEP 21, 2022
Equitable, American Century prepare for SECURE 2.0 with new retirement tools

Equitable's new program is aimed at the micro 401(k) market, while American Century launched a product to help select guaranteed income products for plans.

By Gregg Greenberg
Pension funds fixate on climate change
EQUITIES SEP 21, 2022
Pension funds fixate on climate change

A survey of pension fund managers responsible for nearly $2 trillion worth of assets shows asset allocation decisions are being driven by a focus on climate change and a search for yield.

By Jeff Benjamin
Enhancing tax alpha on a multi-account UMA platform
OPINION SEP 21, 2022
Enhancing tax alpha on a multi-account UMA platform

Adding a tax overlay to multiple unified managed accounts lets advisers generate tax alpha through APIs that identify and recommend tax-smart trades and sales.

By Jack Sharry
CEO Scharf sees 'several years' of regulatory work ahead for Wells Fargo
WIREHOUSES SEP 20, 2022
CEO Scharf sees 'several years' of regulatory work ahead for Wells Fargo

The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.

By Bloomberg
Insurers talk big, spend small with diverse asset management firms
LIFE INSURANCE AND ANNUITIES SEP 20, 2022
Insurers talk big, spend small with diverse asset management firms

The largest American insurance companies have uneven track records with diversity when it comes to selecting asset managers.

By Joanne Cleaver
Taking RMDs in the form of stock
IRA ALERT SEP 20, 2022
Taking RMDs in the form of stock

Clients don't have to sell stocks in their individual retirement accounts to take their required minimum distributions.

By Ed Slott
Charitable giving isn't falling despite growing economic worries: Fidelity
RIA NEWS SEP 20, 2022
Charitable giving isn't falling despite growing economic worries: Fidelity

Nearly 60% of Fidelity Charitable donors plan to give more in 2022 in light of current economic volatility, study says.

By Gregg Greenberg
RBC adds $1 billion group from J.P. Morgan
RIA NEWS SEP 20, 2022
RBC adds $1 billion group from J.P. Morgan

The Nolan Group, a father-son team, will join RBC’s New York City office.

By InvestmentNews
Mariner Wealth Advisors buying $256 million Pittsburgh-based firm
RIA NEWS SEP 20, 2022
Mariner Wealth Advisors buying $256 million Pittsburgh-based firm

Executive Wealth Counselors will assume the Mariner name when the deal closes at the end of the month.

By InvestmentNews
$1 billion California team joins Private Advisor Group
RIA NEWS SEP 20, 2022
$1 billion California team joins Private Advisor Group

Irvine-based AK Financial Group will transition its RIA to Private Advisor Group's.

By InvestmentNews
Women-led $340 million team pivots to LPL from Ameriprise
RIA NEWS SEP 20, 2022
Women-led $340 million team pivots to LPL from Ameriprise

Rubino Skedsvold Moran & Associates, which is based in Portland, Oregon, will use the firm’s RIA and custodial platforms.

By InvestmentNews
B. Riley nabs Alex. Brown adviser managing $325 million
RIA NEWS SEP 19, 2022
B. Riley nabs Alex. Brown adviser managing $325 million

Jay Murphy joins wealth management office in Boston financial district as a senior managing director of investments. 

By InvestmentNews
Step-up in mortgage rates has advisers rethinking retirement strategies
RETIREMENT PLANNING SEP 19, 2022
Step-up in mortgage rates has advisers rethinking retirement strategies

Financial advisers are fielding calls from clients wondering what, if anything, they should be doing with their home loans now that 30-year fixed mortgages have pierced 6%.

By Gregg Greenberg
Two Minnesota advisory firms merge
RIA NEWS SEP 19, 2022
Two Minnesota advisory firms merge

360 Financial of Wayzata and Fleming Investment Group of Elk River will operate under the 360 Financial brand and serve more than 1,000 clients.

By InvestmentNews