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60/40 is gone, 70/30 is in, and alternatives are too
THE INVESTMENTNEWS PODCAST OCT 04, 2021
60/40 is gone, 70/30 is in, and alternatives are too

Steve Skancke from Keel Point joins Jeff and Bruce to chat alternatives. With his long history of both governmental and private-sector work, Steve helps break down why the 60/40 portfolio has shifted to 70/30, and why alts make more sense now than ever.

SEC charges California firms with misleading clients about markups
NEWS REGULATION AND LEGISLATION OCT 04, 2021
SEC charges California firms with misleading clients about markups

TCFG in Laguna Nigel marked up ticket charges 60% of the time, but told advisory clients that markups were imposed only 'in some limited instances,' the agency says.

Former fund CEO agrees to pay $5.5 million over fraud charge
NEWS REGULATION AND LEGISLATION SEP 30, 2021
Former fund CEO agrees to pay $5.5 million over fraud charge

The SEC charged Robert Press, the former CEO of TCA Fund Management, and Donna Silverman, its former chief portfolio manager, with inflating net asset values.

Avantax practices managing $350 million move to Cetera
NEWS BROKER DEALERS SEP 30, 2021
Avantax practices managing $350 million move to Cetera

Veteran advisers in Oklahoma and Utah affiliate with Cetera through Texas-based Farpointe Wealth Partners.

Standard introduces small-plan record-keeping tool
RETIREMENT RETIREMENT PLANNING SEP 30, 2021
Standard introduces small-plan record-keeping tool

The solution, which targets retirement plans with up to $2 million in assets, is built on a large-plan platform and can accommodate growth.

Empower Retirement plans to hire 325 by year-end
RETIREMENT RETIREMENT PLANNING SEP 30, 2021
Empower Retirement plans to hire 325 by year-end

The company's retirement solutions group is looking for both entry-level and experienced staff.

OneDigital acquires $350 million advisory firm
RETIREMENT RETIREMENT PLANNING SEP 30, 2021
OneDigital acquires $350 million advisory firm

Praxis Consulting, based in Sacramento, California, has $240 million in retirement plan assets and $110 million in personal advisory assets.

Morgan Stanley trio managing $315 million joins Raymond James
YOUR PRACTICE PRACTICE MANAGEMENT SEP 29, 2021
Morgan Stanley trio managing $315 million joins Raymond James

The team, including James Wendling, Steven VanDerSchaaf andClint Allman, have moved to the employee unit of Raymond James in Davenport, Iowa.

Avantax team managing $400 million switches to LPL
YOUR PRACTICE PRACTICE MANAGEMENT SEP 29, 2021
Avantax team managing $400 million switches to LPL

First Legacy Wealth Management affiliates through JFC Advisor Network. The advisory firm is based in San Angelo and Big Spring, Texas.

Mercer Advisors acquires $1.5 billion advisory firm
NEWS INDUSTRY NEWS SEP 29, 2021
Mercer Advisors acquires $1.5 billion advisory firm

The registered investment adviser Quest Capital Management, based in Dallas, will add assets and 17 staff members to the $32 billion Mercer Advisors.