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Advisers defend active investment management on Capitol Hill

February 15, 2019

Advocates for active investment management are lobbying lawmakers to ensure they don't lean toward passive products as the default investment in retirement savings legislation and other bills. Index investing, which was highlighted in the now-defunct...

Rubio wants to curb stock buybacks encouraged by 2017 tax law

February 13, 2019

Sen. Marco Rubio is taking on the GOP's 2017 tax law by arguing that it's encouraging companies' rush to buy back stock, hurting the economy. The Florida Republican, as chairman of the Senate Committee on Small Business and Entrepreneurship,...

Bills would allow employers to help workers pay off student debt, tax-free

February 13, 2019

Bipartisan Senate legislation would provide favorable tax treatment to encourage employers to help their workers pay off student loan debt. Under the bill, the Employer Participation in Repayment Act, companies could contribute up to $5,250...

Limited deduction rubs SALT into taxpayer wounds

February 8, 2019

Financial advisers and accountants for people who live in high-tax states will be delivering a difficult message over the next few weeks: You'll pay more in taxes. The reason for the increase is a limit on the deduction for state and local taxes...

Maryland bill would impose fiduciary duty on brokers, insurance reps

February 7, 2019

Legislation introduced this week by Maryland state lawmakers would raise investment advice standards for brokers and insurance representatives — marking an expansion of coverage compared to a Securities and Exchange Commission proposal. The...

Retirement savings bill re-introduced in House with bipartisan backing

February 6, 2019

Legislation that would help small businesses offer retirement plans to their employees and ease the use of annuities in them was re-introduced in the House on Wednesday with bipartisan backing. The Retirement Enhancement and Savings Act contains...

Trump State of the Union: What advisers want to hear

February 5, 2019

Financial advisers want President Donald J. Trump to put aside divisive political rhetoric and give a positive message about the economy and solutions to pressing problems during his address to Congress tonight. In his State of the Union address,...

Wealth tax proposed by Elizabeth Warren could be illegal

January 31, 2019

Sen. Elizabeth Warren set the financial advice industry abuzz last week when the presidential hopeful proposed a "wealth tax" on ultra-rich Americans.​ Her proposal would levy a 2% annual tax on each dollar of a household's net worth above...

How FSI will work to protect advisers and investors at the state level in 2019

January 31, 2019

With daily headlines focused on hyperpartisan gridlock and dysfunction in Washington, D.C., legislative threats to the independent financial services industry would seem to be on the back burner for the time being. As members of the Financial...

Sanders proposes estate tax of up to 77% on billionaires

January 31, 2019

Independent Sen. Bernie Sanders is proposing to expand the estate tax on wealthy Americans, including a rate of up to 77% on the value of estates above $1 billion. The Vermont senator, who is considering a second run for president, said in a...

Maxine Waters may raise profile of diversity, but legislating solution will be difficult

January 30, 2019

A new congressional committee devoted to increasing the number of women and people of color in the financial industry will raise the profile of the issue, but a solution is more likely to come from firms than from Washington, according to diversity...

Estate tax pretty much 'optional,' but GOP still trying to kill it

January 29, 2019

The estate tax isn't relevant to the vast majority of advisers, their clients or America at large. And estate planners say the tax is largely optional for the wealthy, since there are plenty of ways to dilute it greatly or avoid it outright....

401(k) plans boost company match due to tax reform, labor market

January 28, 2019

Tax savings that businesses have realized as a result of tax reform and the competitive labor market are leading employers to increase the amount of money they give employees in the form of a 401(k) match, according to retirement plan advisers...

Warren proposes tax on assets of wealthiest Americans

January 25, 2019

Democratic presidential hopeful Elizabeth Warren has proposed a wealth tax on Americans worth more than $50 million, a pitch aimed at satisfying the eagerness of progressive voters to confront income inequality. "The top 0.1% of American families...

Final pass-through rules deliver good and bad news for advisers

January 22, 2019

The Treasury Department's new package of rules around the pass-through tax deduction is good news for financial advisers whose clients own rental property or invest in mutual funds that hold real estate investment trusts, according to tax experts....

Fiduciary regulations continue to advance in states as SEC mulls national standard

January 18, 2019

A New York state lawmaker is optimistic about the chances this year for his fiduciary-disclosure bill, while a Maryland senator is poised to introduce a measure that would raise standards there. Adding to the mix is the Nevada Securities Division,...

Maxine Waters takes helm of House Financial Services Committee, makes diversity a priority

January 16, 2019

House Financial Services Committee chairwoman Maxine Waters, D-Calif., announced Wednesday she is creating the panel's first subcommittee on diversity and inclusion. The goal is to boost the number of women and minorities working in the financial...

New York City proposes its own auto-retirement program

January 14, 2019

New York City plans to launch its own retirement plan. In a speech last week, New York City Mayor Bill de Blasio proposed a number of new programs to combat income inequality. One idea is the Retirement Security Fund, a city-sponsored retirement...

Adviser advocates seek tax breaks for advisory fees, business revenue

January 9, 2019

Adviser advocates are playing a long game in trying to secure tax changes that would benefit investors and the advisers who serve them. Charles Schwab & Co. Inc. and the Investment Adviser Association are beginning the new Congress where they...

Advisers help federal employees financially manage the shutdown

January 7, 2019

Federal-employee clients of financial advisers in the national capital area are taking the federal government shutdown in stride, even though they're due to miss their first paychecks this week. Others, however, will struggle without the immediate...

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