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3 brokers in hot water over sketchy Covid-19 loan applications
The Financial Industry Regulatory Authority Inc. said at the start of the year it was looking into registered representatives who applied for coronavirus-relief loans for possible violations.
Raymond James sees boost to adviser recruiting
The company's success in 2021 in recruiting advisers comes at a delicate time as the financial advice industry tries to figure out the best way to return to the office amid the Covid-19 pandemic.
Ameriprise recruiting stalls in Q2
'As we went through the quarter, we didn’t expect it to slow down as much,' CEO James Cracchiolo said in an earnings call. The company reported 10,047 financial advisers across its platform at the end of June, compared to 9,894 a year earlier.
Alternative investment sales skyrocket in 2021
Sales of such alternative investments are so strong, they have already surpassed last year's total of close to $27 billion, and are tracking to nearly double that amount by year end.
Stocks sink as virus worries fuel flight to safety
In a reversal of the reopening trade that has powered this year's equity rally, cyclical companies bore the brunt of Monday's sell-off.
Wells Fargo says return to office will look ‘mostly’ like pre-Covid
The bank, with almost 260,000 employees, will start calling workers back to the office on Sept. 7, a process that will continue through October, according to an internal memo.
Big brokerages gearing up for return to the office
For firms like Morgan Stanley and Raymond James, welcoming employees back to the office, after more than a year of remote work, will require flexibility and an open mind.
How the 401(k) world will adapt as it wakes up after long pandemic
There will be vast differences, but the fundamentals of the business will be the same, as will the importance of strong relationships and brands.
Covid raises awareness, concerns about Social Security
71% of American adults worry that the program will run out of money during their lifetime and 19% say the pandemic has affected their plans to file for Social Security benefits, according to a Nationwide survey.
Market outlook ‘as good as it gets’: Rockefeller CEO Greg Fleming
The current conditions for the stock market have been buoyed by strong economic growth as the Covid-19 pandemic recedes and unprecedented federal government spending, Fleming said.
Insurance-focused B-D received $550,400 PPP loan last year
The sum, received by The Leaders Group Inc., appears to be in the middle range of government loans received by privately held broker-dealers who obtained Covid-19 business relief.
Fewer retirees are claiming Social Security at 62
But unemployment resulting from Covid could temporarily reverse that positive trend.
Aegis Capital received $1.7 million PPP loan last year
The financial assistance appears to be on the higher end of PPP loans received by privately held broker-dealers who obtained Covid-19 business relief. Other B-Ds have reported taking larger PPP loans.
David Lerner Associates landed a $4 million PPP loan in 2020
Meanwhile, the Long Island, New York-based firm also reported that its financial condition continued to decline.
The New Normal: More advisers are abandoning traditional offices to work from home
After more than a year of working remotely, financial advisers and their clients are embracing the upside of virtual interactions and remote worksites.
Turning the corner
Reflecting on the outlook from that first week of January, optimism was a triumph of hope over experience. But today’s reality shows us that a positive perspective on that day was not in fact misplaced.
As companies inch closer to returning to the office, flexibility is key
Financial services companies have generally adopted remote work policies, but as offices reopen, the next issue becomes who is and isn't vaccinated.
Market watchers say inflation risk is real
The Biden administration's record-setting government spending is seen as a path to higher inflation.
82% of Americans say Covid affected their retirement plans
A Fidelity study underscores the importance of financial planning, but reveals that the term means different things to people of different ages.
Slimmed down 2020 comp for LPL, Ameriprise CEOs
In the face of an unprecedented pandemic, Dan Arnold and James Cracchiolo saw their total pay fall last year.
