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How the US Toppled the World’s Most Powerful Gold Trader
In December 2018, a man in his early 30s was intercepted on arrival at Fort Lauderdale airport and taken to a room... Read more »Published: August 14, 2022 - 5:37 pmJ.P. Morgan Advisors Draws New Manager for West Coast Offices from Wells Fargo
Greg Desmond, a 25-year industry veteran, is at least the third manager to oversee J.P. Morgan Advisors’ San Francisco office since 2018.... Read more »Published: August 12, 2022 - 6:08 pmCounseling young lawyers on cash flow management
L.J. Jones found his niche by observing the challenges faced by his wife and her law school classmates.... Read more »
Published: August 12, 2022 - 4:49 pmMinnesota RIA merges into Credent Wealth Management
Personal Wealth Partners managed $631 million from two offices. The new locations in Minnesota and Wisconsin brings the total number of Credent... Read more »
Published: August 12, 2022 - 4:41 pmEx-UBS Broker Fined, Suspended Over Client Texts
The broker, who is no longer registered, sent business-related text messages to two customers from his personal phone. The post Ex-UBS Broker... Read more »Published: August 12, 2022 - 3:09 pmUBS’s Broker Count Has Slipped to Almost 5,600–Sources
Internal rankings show the number of U.S. brokers may have declined by as much as 14% from around 6,500 in 2018. The... Read more »Published: August 11, 2022 - 7:49 pmRobinhood Must Face Market Manipulation Claims Over Meme Trading
Robinhood Markets Inc. must face market manipulation claims arising from the January 2021 meme-stock frenzy, a judge ruled. The post Robinhood Must... Read more »Published: August 11, 2022 - 6:58 pmCI Financial sees slowdown in M&A as it eyes US IPO
The Canadian firm expects to file the registration for an initial public offering of a portion of its US wealth management business... Read more »
Published: August 11, 2022 - 5:42 pmBillion-Dollar UBS Brokers Go Three for Three in Clearing Customer Complaints
Arbitrators found one client had acted against the broker’s advice to stay invested in risky leveraged exchange-traded products. The post Billion-Dollar UBS... Read more »Published: August 11, 2022 - 3:35 pmMather Group acquires $478 million Bay-area RIA
HC Financial Advisors, which was founded in 1986, is based in Lafayette, California.... Read more »
Published: August 10, 2022 - 9:09 pmAnti-ESG movement spawns new fund in battle against industry giants
Fledgling ETF provider Strive Asset Management hopes to compete with BlackRock, Vanguard and State Street for proxy voting power.... Read more »
Published: August 10, 2022 - 7:59 pmWedbush Opens Door to Florida Duo Fired from Raymond James After Cocaine Bust
M. Paul Massey and William Romans, who had spent their entire 23-year brokerage careers at Raymond James prior to their May 4... Read more »Published: August 10, 2022 - 6:27 pm‘Too Good to Pass up’: Ex-Morgan Stanley Broker Suspended Over Outside Investment
The former broker said he had to meet a deadline on a Series C investment in a private company, and Morgan Stanley... Read more »Published: August 10, 2022 - 3:52 pm$3.3-Mln Royal Alliance Team Shifts to Smaller Indie Firm
A hybrid firm managing $500 million in assets has joined Concourse Financial Group, which rebranded last year from ProEquities. The post $3.3-Mln... Read more »Published: August 10, 2022 - 3:19 pmPublic Pensions Suffer Worst Investment Quarter Since 2020
Public pensions this year endured their worst quarter of investment performance since the onset of the Covid-19 pandemic in 2020. The post... Read more »Published: August 9, 2022 - 9:19 pm7 Common 401k Mistakes It’s Hard To Convince Plan Sponsors Are Really Mistakes
Common mistakes. Non-believing 401k plan sponsors. How many of these have you seen? What have you done to address the dilemma of... Read more »
Published: August 9, 2022 - 4:03 amThe time is now to be more transparent about advisory fees
Advisers charging fees based on client assets are feeling a rare pinch of lower income against the backdrop of inflation. Now would... Read more »
Published: August 8, 2022 - 8:40 pmFiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 8/5/22
Closer to the target, (it turns out) size doesn't matter, and more on fading fads. The post FiduciaryNews.com Trending Topics for ERISA... Read more »
Published: August 8, 2022 - 4:03 amHub International acquires $2.3 billion RIA
WealthPlan Advisors, based in Scottsdale, Arizona, provides retirement plan and investing consulting services to nearly 600 clients.... Read more »
Published: August 5, 2022 - 3:25 pmFocus Financial expects good year for M&A despite tough market
The company has already completed 14 deals this year and has an “excellent” pipeline that includes a mix of new partners and... Read more »
Published: August 4, 2022 - 6:18 pmInsurer Integrity adds $13 billion Gladstone to growing lineup
The life insurance and wealth management company is making its second acquisition in a week by picking up advisory firm Gladstone.... Read more »
Published: August 4, 2022 - 5:49 pmMerger creates $2.7 billion Ohio RIA
MGO Investment Advisors joins with One Seven; Merchant Investment takes a minority stake in the new firm.... Read more »
Published: August 4, 2022 - 2:26 pmRecruiting slowed in the first half while M&A soared
Volatile markets may be holding recruiting activity back from its breakneck pre-pandemic pace but mergers and acquisitions have more than rebounded from... Read more »
Published: August 3, 2022 - 6:17 pmEdelman Financial Engines acquires $680 million Smart Investor
Boston-based Edelman gets its second deal under its belt and says it's settling in to become a more aggressive buyer of RIAs.... Read more »
Published: August 3, 2022 - 3:37 pmM&A deal structures have changed dramatically amid the bear market
Dozens of transactions are still being completed every month despite the markets' slide, but they're being structured differently.... Read more »
Published: August 2, 2022 - 8:44 pmMariner moves into community bank asset management with $8.6 billion deal
The acquisition of Michigan-based Heber Fuger Wendin gives Mariner Wealth Advisors access to a new corner of the financial services industry.... Read more »
Published: August 2, 2022 - 5:42 pmPolicymakers should tailor regulations for small businesses
The SEC's proposed cybersecurity rule is an example of a one-size-fits-all regulation that would significantly affect smaller firms.... Read more »
Published: August 2, 2022 - 3:07 pmCommon 401k Plan Sponsor Mistakes That Are Easy To Fix
But this rookie mistake doesn’t bypass veteran plan sponsors. If they’ve grown too complacent with their plan, they may wake up one... Read more »
Published: August 2, 2022 - 4:05 amCourting clients with cigars and whiskey
Rather than free chicken dinners, Ameriprise's Eric Reinhold prefers the slow burn of bonding with clients over a fine cigar and top-shelf... Read more »
Published: August 1, 2022 - 5:37 pmAlera Group notches third acquisition in as many months
The purchase of Johnson Brunetti, a retirement and investment specialist with $1.5 billion in assets, keeps private equity-backed Alera on track for... Read more »
Published: August 1, 2022 - 1:28 pm
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Will Housing Prices Flatten or Collapse?
Monthly home value declines have now engulfed 22 of the 100 largest metropolitan areas, though inventory is still very tight. ... Read more »
Published: August 14, 2022 - 7:36 pmHow the US Toppled the World’s Most Powerful Gold Trader
In December 2018, a man in his early 30s was intercepted on arrival at Fort Lauderdale airport and taken to a room... Read more »Published: August 14, 2022 - 5:37 pmWith RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA... Read more »Published: August 13, 2022 - 6:00 pmHouse Sends Biden Landmark Tax, Health, Climate Bill to Sign
The Inflation Reduction Act passed the House late Friday on a party line 220-207 vote. Related StoriesBento Engines President, Former J.P. Morgan Exec... Read more »
Published: August 12, 2022 - 10:50 pmStocks Roar to Cap Longest Weekly Rally This Year
The S&P 500 notched its fourth straight week of gains -- the longest winning run since November. Related Stories3 Recession-Ready Investments to Consider:... Read more »
Published: August 12, 2022 - 9:36 pmVanguard Nabs Top Fidelity, JPMorgan Researchers
Andy Reed and Fiona Greig focus on investor behavior and household finance, respectively; they join Vanguard's Investment Strategy Group. Related StoriesLPL Nabs Wells... Read more »
Published: August 12, 2022 - 9:15 pmBento Engines President, Former J.P. Morgan Exec Dies at 62
Greg Quental passed away "suddenly this past Saturday in Connecticut of natural causes," said Bento Engines CEO Philipp Hecker. Related Stories3 Recession-Ready Investments... Read more »
Published: August 12, 2022 - 8:48 pmThe Inflation Reduction Act's Impact on Your Client's Bottom Line
The act, being voted on Friday, would raise taxes on some corporations, reduce drug costs and tackle climate change. Related Stories2 Ways the... Read more »
Published: August 12, 2022 - 7:46 pmDon't Buy the Stock Rally? The Smart Money Does
Moderation in the Fed's messaging and actions around rising rates "would be positive" for stocks, said JPMorgan's David Kelly. Related StoriesStocks Have Not... Read more »
Published: August 12, 2022 - 7:41 pmDental Insurance Giant Names a President: Executive Changes
Sarah Chavarria will be president of Delta Dental of California. And Ash Brokerage has a new disability executive. Related Stories3 Recession-Ready Investments to... Read more »
Published: August 12, 2022 - 7:40 pmMerit Life Aims to Ramp Up Annuity Sales
The company can help clients add annuity powers to ordinary retirement savings portfolios. Related StoriesLife Insurers See Q2 Mortality Decrease - EnclosureEverything You... Read more »
Published: August 12, 2022 - 7:32 pm12 States High Earners Are Fleeing
Not surprisingly, the states with the biggest net losses of high-income households are traditionally viewed as high-tax states. Related Stories12 States Most High... Read more »
Published: August 12, 2022 - 7:28 pmHow Social Security Gets Used Up on Health Care
A recent Center for Retirement Research study finds that high-spending retirees are left with "basically nothing." Related Stories7 Senate Budget Package Highlights, for... Read more »
Published: August 12, 2022 - 7:16 pmLPL Fined $300K Over Client-Reserve Errors
The firm's mistakes resulted in two deficiencies totaling about $162 million, FINRA says. Related StoriesBarred Broker Sentenced to 5 Years in Prison Over... Read more »
Published: August 12, 2022 - 6:19 pmJ.P. Morgan Advisors Draws New Manager for West Coast Offices from Wells Fargo
Greg Desmond, a 25-year industry veteran, is at least the third manager to oversee J.P. Morgan Advisors’ San Francisco office since 2018.... Read more »Published: August 12, 2022 - 6:08 pm3 Ways to Help Portfolios Get Ready for a Recession: Benz
With a looming slowdown, advisors could consider trimming some investment positions and expanding others, Morningstar's Chrstine Benz says. Related StoriesStocks Have Not Reached... Read more »
Published: August 12, 2022 - 4:34 pmWhat Democrats, Republicans Think of 12 Parts of the Inflation Reduction Act
Public policy researchers found much common ground in the legislation among Americans across the political spectrum. Related Stories12 States Most High Earners Are... Read more »
Published: August 12, 2022 - 4:22 pm5 Ways to Calm Your Clients' Social Security Fears
One way to ease income planning conversations is to clear up confusion about public benefits. Related StoriesLife Insurers See Q2 Mortality Decrease -... Read more »
Published: August 12, 2022 - 4:19 pmEx-UBS Broker Fined, Suspended Over Client Texts
The broker, who is no longer registered, sent business-related text messages to two customers from his personal phone. The post Ex-UBS Broker... Read more »Published: August 12, 2022 - 3:09 pmSchwab Advisor Services denies reports of a Sept. 2023 'hard date' to finalize TD Ameritrade merger as new details emerge about behind-the-scenes efforts to accomodate TDA RIAs
Since at least February, Schwab has been running 'JumpStart' a new program to let TDA RIAs add net new assets onto the... Read more »Published: August 12, 2022 - 1:14 pmBlackRock Offers Bitcoin Investing to Big Institutional Clients
The new private Bitcoin trust seeks to track the price of the biggest cryptocurrency, the asset manager says. Related Stories3 Recession-Ready Investments to... Read more »
Published: August 12, 2022 - 5:42 amLawmaker Introduces Bill to Stop SEC's ESG Plan
Rep. French Hill's bill states that the SEC "may not" finalize its planned "Enhancement and Standardization of Climate-Related Disclosures." Related StoriesThiel-Backed Firm Debuts... Read more »
Published: August 11, 2022 - 10:07 pmJackson's Annuity Stormproofing Worked
Annuity issuers are talking about what Q2 headwinds did to the shingles. Related StoriesEverything You Need to Know About Annuity Investing in 2022... Read more »
Published: August 11, 2022 - 9:14 pm12 States High Earners Are Flocking To
These states saw the greatest influx of high-income earners in 2020, according to a SmartAsset analysis. Related Stories17 Grocery Shopping Tips That Apply... Read more »
Published: August 11, 2022 - 8:15 pmRobinhood Must Face Market Manipulation Claims Over Meme Trading
A Miami judge dismissed some allegations against the platform, but is allowing others in a class-action lawsuit to move forward. Related StoriesThiel-Backed Firm... Read more »
Published: August 11, 2022 - 8:01 pmUBS’s Broker Count Has Slipped to Almost 5,600–Sources
Internal rankings show the number of U.S. brokers may have declined by as much as 14% from around 6,500 in 2018. The... Read more »Published: August 11, 2022 - 7:49 pmJeremy Siegel: Fed Should Moderate Rate Hikes
The Wharton professor says "I would go 50 [basis points] and then two 25s at this particular point, to complete market expectations." Related... Read more »
Published: August 11, 2022 - 7:23 pmLife Insurers See Q2 Mortality Decrease
Sun Life Financial says its U.S. COVID-19 claims dropped about 90%. Related StoriesHow Long the CDC Thinks Your Clients Might Live - EnclosureEnvestnet... Read more »
Published: August 11, 2022 - 7:05 pmRobinhood Must Face Market Manipulation Claims Over Meme Trading
Robinhood Markets Inc. must face market manipulation claims arising from the January 2021 meme-stock frenzy, a judge ruled. The post Robinhood Must... Read more »Published: August 11, 2022 - 6:58 pmEnvestnet Institute On Campus Adds Franklin Templeton as Sponsor: Tech Roundup
Also, LinkedIn's latest compliance partner is RIA in a Box. Related Stories3 Steps to Better Client Relationships - EnclosureThiel-Backed Firm Debuts Anti-ESG ETF... Read more »
Published: August 11, 2022 - 6:05 pm
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