Plaintiffs claim Xerox took kickbacks from Financial Engines for including the managed-account provider on its record-keeping platform, breaching its fiduciary duty.
"Macroeconomic trends" led Hancock to ditch new policy sales, in the latest example of an LTC market beleaguered by negative consumer perception and low interest rates.
If Republicans were to win a repeal of the so-called death tax, contentious Treasury regulations on business valuation discounts would also disappear.
Violating terms of an investment policy statement is considered a fiduciary breach, and the uptick in 401(k) litigation has heightened concern over language that's too prescriptive.
The wirehouse's advisers will lose trail commissions on all but grandfathered brokerage IRA accounts, but may not be hard-hit due to certain procedures to be implemented.
Huge fines against the likes of MetLife and Raymond James are putting the watchdog on a trajectory to beat its prior record by about 20%. <b><i>(More: <a href="http://www.investmentnews.com/article/20160503/FREE/160509980/metlife-to-pay-record-finra-fine-for-misleading-annuity-customers" target="_blank">So far this year Finra has levied four fines greater than $5M</a>)</b></i>
The supposedly new annuity type, as opposed to an immediate fixed annuity, would lock in a higher income in the event of a strong stock market.
Some firms are rethinking a shift to fee-based compensation and instead are sticking with commission structures that will trigger the need for best interest contract exemptions.
The 401(k) ratings provider has been snapped up by an asset management data and research provider that's also the parent company of a publication for financial advisers.
If front-runner Hillary Clinton wins, higher taxes could be on the way for advisers' wealthy clients.
