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Duo managing $740 million join LPL’s employee channel
NEWS BROKER DEALERS JUL 28, 2021
Duo managing $740 million join LPL’s employee channel

Kyle Smith and Michael Sandlin are leaving Truist Investment Services in Raleigh, North Carolina.

Mariner Wealth to acquire $277 million RIA
NEWS RIAS JUL 28, 2021
Mariner Wealth to acquire $277 million RIA

Ventura, California-based Channel Islands Group also runs an estate planning business.

Duo managing $239 million at Wells Fargo leave for Stifel
YOUR PRACTICE PRACTICE MANAGEMENT JUL 28, 2021
Duo managing $239 million at Wells Fargo leave for Stifel

Tim Devlin and Michael Jeremiah are joining the firm in Spokane, Washington.

FBI, SEC warn public about fake brokers and advisers
NEWS REGULATION AND LEGISLATION JUL 27, 2021
FBI, SEC warn public about fake brokers and advisers

In an investor alert, the agencies point out four tactics that fraudsters use to trick investors, such as spoofed websites and fake profiles on social media platforms.

Sustainable fund assets grew 12% in Q2: Morningstar
INVESTING ESG JUL 27, 2021
Sustainable fund assets grew 12% in Q2: Morningstar

Inflows to 4,929 funds worldwide fell 24% from the first quarter’s record $184 billion, according to a Morningstar report.

Cresset acquires Texas RIA
NEWS RIAS JUL 27, 2021
Cresset acquires Texas RIA

Houston-based Asset Management Advisors manages $484 million, pushing Cresset's AUM to more than $14.5 billion.

Annuity sales surge 39% in second quarter
RETIREMENT RETIREMENT PLANNING JUL 27, 2021
Annuity sales surge 39% in second quarter

Variable annuity sales jump 55% to $32.8 billion in Q2, marking the highest quarterly sales in that category in nearly six years, according to the Secure Retirement Institute.

Most investors don’t understand investment costs, survey finds
NEWS INDUSTRY NEWS JUL 27, 2021
Most investors don’t understand investment costs, survey finds

Almost half believe that fund management costs are included in fee they pay their adviser, according to a State Street survey.

Private equity firm invests in Concurrent Partners
NEWS BROKER DEALERS JUL 26, 2021
Private equity firm invests in Concurrent Partners

Members of the partnership, which is affiliated with Raymond James, will be able to tap capital from Merchant Investment Management.

Senate Democrats introduce bill providing 401(k), IRA match
RETIREMENT RETIREMENT PLANNING JUL 26, 2021
Senate Democrats introduce bill providing 401(k), IRA match

The existing nonrefundable saver's credit would become a $1,000-a-year matching contribution from the government.