RIA News

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CFPB complaints jump during pandemic: Report
FINTECH JUL 29, 2020
CFPB complaints jump during pandemic: Report

Consumers are reporting more problems with credit reports and money-transfer services

By Emile Hallez
Adviser managing $279 million at Wells Fargo joins Baird
INDEPENDENT BROKER DEALERS JUL 29, 2020
Adviser managing $279 million at Wells Fargo joins Baird

Philip Stathos becomes part of wealth management team in Portland, Maine

By InvestmentNews
Vanguard submits to value curse, plans to fold active fund into an index
RIA NEWS JUL 29, 2020
Vanguard submits to value curse, plans to fold active fund into an index

Unable to keep pace with a passive index, the 20-year-old active value fund has run its course

By Jeff Benjamin
M&T Bank will use LPL for retail securities business
FINTECH JUL 29, 2020
M&T Bank will use LPL for retail securities business

The New York bank’s $20 billion in AUM will make it the largest on LPL's platform

By InvestmentNews
State Street launches ESG version of its mammoth S&P 500 ETF
RIA NEWS JUL 29, 2020
State Street launches ESG version of its mammoth S&P 500 ETF

The adaptation of SPY will include firms in the S&P 500 index that meet environmental, social and governance criteria

By Bloomberg
The future of wealth management is female
RIA NEWS JUL 29, 2020
The future of wealth management is female

Unprecedented asset shift to women expected within the decade

By Mary Beth Franklin
David Reich, a familiar face in the retirement service world, dies at 50
RETIREMENT PLANNING JUL 28, 2020
David Reich, a familiar face in the retirement service world, dies at 50

Reich led several massive acquisitions at Hub International.

By Emile Hallez
RIA NEWS JUL 28, 2020
Hightower acquires stake in $3.3 billion RIA

Adding Frontier Investment Management brings the firm's total AUM to $56.7 billion

By InvestmentNews
Purshe Kaplan Sterling in another million-dollar arbitration settlement
INDEPENDENT BROKER DEALERS JUL 28, 2020
Purshe Kaplan Sterling in another million-dollar arbitration settlement

Payment linked to adviser who committed suicide in 2017

By Bruce Kelly
SEC orders AIG unit to pay $40 million for disclosure violations in teacher retirement plans
RETIREMENT PLANNING JUL 28, 2020
SEC orders AIG unit to pay $40 million for disclosure violations in teacher retirement plans

Effort highlights agency’s teacher initiative, but expert calls it ‘slap on wrist’

By Mark Schoeff Jr.
Annuity sales down 24% in Q2
RETIREMENT PLANNING JUL 28, 2020
Annuity sales down 24% in Q2

Nearly all types of annuities fell by double digits due to low interest rates and fallout from COVID-19

By Emile Hallez
SEC cites deficiencies in Form CRS filings
RIA NEWS JUL 27, 2020
SEC cites deficiencies in Form CRS filings

Initial reviews show disclosures could be ‘clearer or otherwise improved’

By Mark Schoeff Jr.
SEI Investments says breach at key vendor exposed customer data
FINTECH JUL 27, 2020
SEI Investments says breach at key vendor exposed customer data

The company serves as a fund administrator for Pimco, Centerbridge and other money managers

By Bloomberg
SEC, DOL take different approaches to regulating ESG investing
OPINION JUL 27, 2020
SEC, DOL take different approaches to regulating ESG investing

The DOL proposal likely would chill the use of socially responsible investments in retirement accounts; the SEC focuses on disclosure

By Mark Schoeff Jr.
Silver rally quietly outshines gold in 2020
ALTERNATIVES JUL 27, 2020
Silver rally quietly outshines gold in 2020

The less-flashy precious metal may have more room to run, according to analysts

By Jeff Benjamin
INmail: Estimating future Social Security benefits
RETIREMENT PLANNING JUL 27, 2020
INmail: Estimating future Social Security benefits

The estimated benefit predicated for a client continuing to work at her current pay scale was calculated by Social Security. But, what about her benefits?

By Mary Beth Franklin
Adviser managing $180 million at Wells Fargo moves to LPL
INDEPENDENT BROKER DEALERS JUL 27, 2020
Adviser managing $180 million at Wells Fargo moves to LPL

Keith Boyd is affiliating through Gladstone, an LPL office of supervisory jurisdiction in Flemington, New Jersey

By InvestmentNews
Gold hits new record; now set to test $2,000 level
RIA NEWS JUL 27, 2020
Gold hits new record; now set to test $2,000 level

The precious metal erased its previous record high from 2011 amid concerns about negative real rates and economic and political turmoil

By Bloomberg
Fund industry tries to clarify types of ESG funds
RIA NEWS JUL 27, 2020
Fund industry tries to clarify types of ESG funds

The Investment Company Institute is leading an effort to come up with definitions of the various approaches to sustainable investing

By Bloomberg
SEC charges Michigan broker with taking $1.15 million from clients
REGULATION AND LEGISLATION JUL 27, 2020
SEC charges Michigan broker with taking $1.15 million from clients

Mark Hopkins, who was barred by Finra in 2019, said he would put the funds in an investment earning 6% or 7%

By InvestmentNews