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Meeting the growing need for financial caregiving
RETIREMENT PLANNING MAY 05, 2021
Meeting the growing need for financial caregiving

A new tool tracks spending and sends alerts about unpaid bills and potential elder fraud, helping families to organize and protect the daily finances of an aging loved one.

InvestCloud to acquire Advicent and NaviPlan planning software
FINTECH MAY 05, 2021
InvestCloud to acquire Advicent and NaviPlan planning software

The acquisition follows the firm’s merger with Tegra118 that drove it to a $1 billion valuation. Market volatility has accelerated a focus on financial planning.

Advisory business making progress on diversity, but slowly
RIAS MAY 05, 2021
Advisory business making progress on diversity, but slowly

Only 16% of advisers are women, while 3.8% are Hispanic, 2.6% are African American and 2.1% Asian, according to a study by Cerulli Associates and the Investment Adviser Association.

Data security concerns force the DC industry to cooperate
RETIREMENT PLANNING MAY 05, 2021
Data security concerns force the DC industry to cooperate

The recent Government Accountability Office report and even more recent Department of Labor guidance on cybersecurity hammer home the reality that protecting plan and especially participant data has become a fiduciary responsibility.

Cetera snags $2.4 billion team from MassMutual
BROKER DEALERS MAY 05, 2021
Cetera snags $2.4 billion team from MassMutual

Called Totus Wealth Management, the group had been registered until the end of last month with MML Investors Services, the broker-dealer arm of MassMutual, the insurance company, according to BrokerCheck.

Joe Duran's plan for Goldman Sachs advisers: Q&A
RIAS MAY 05, 2021
Joe Duran's plan for Goldman Sachs advisers: Q&A

After its acquisition in July 2019, United Capital became Goldman Sachs Personal Financial Management division, combining the then-RIA’s emphasis on getting personal with the Wall Street bank's 150-year legacy. The Personal Financial Management unit is growing via acquisitions and Joe Duran outlines how advisers can benefit.

FSC adviser managing $200 million switches to LPL
BROKER DEALERS MAY 05, 2021
FSC adviser managing $200 million switches to LPL

Joel Drake in Des Moines, Iowa, is affiliating through The Wealth Consulting Group, an office of supervisory jurisdiction.

Encouraging clients to name a trusted contact
OPINION MAY 04, 2021
Encouraging clients to name a trusted contact

Employing insights from behavioral finance when putting together the trusted contact form can increase the likelihood a client names a trusted contact, according to a recent report from the Ontario Securities Commission.

Robos roll out crypto offerings ahead of potential Bitcoin ETF
RIAS MAY 04, 2021
Robos roll out crypto offerings ahead of potential Bitcoin ETF

Robo-advisers could be entryways for new market participants to gain access to crypto investing, while advocates wait for regulators to make a decision on a Bitcoin exchange-traded fund.

UBS nabs $2 billion team from BofA private bank
PRACTICE MANAGEMENT MAY 04, 2021
UBS nabs $2 billion team from BofA private bank

The seven-person group will join its Newport Beach, California, office.

Robinhood takes swipe at Warren Buffett
FINTECH MAY 04, 2021
Robinhood takes swipe at Warren Buffett

The online brokerage was responding to Buffett's comment that Robinhood is contributing to the "casino aspect" of the stock market.

Why the public is still leery of online brokerages
OPINION MAY 04, 2021
Why the public is still leery of online brokerages

Lawsuits have popped up alleging wide-reaching conspiracies and gamification strategies at some of the most well-known firms. Online brokerages are increasingly responsible for rebuilding public trust.

Modernizing regulations to keep pace with technology
OPINION MAY 04, 2021
Modernizing regulations to keep pace with technology

Finra has allowed fully remote inspections during the pandemic, and the industry is now encouraging the regulator to make the temporary adjustments into long-term changes.

Adviser recruitment on track for record-breaking year
RIAS MAY 03, 2021
Adviser recruitment on track for record-breaking year

More than 4,000 advisers and brokers switched firms during the first quarter, up 11% from the first quarter of 2020. RIAs and IDBs continue to set the pace.

Eight-person UBS team managing $900 million joins RBC
PRACTICE MANAGEMENT MAY 03, 2021
Eight-person UBS team managing $900 million joins RBC

The addition of Meridian Group gives the firm a Roanoke, Virginia, footprint

Ohio National broker pitched VA trades as 'infinite banking': Finra
LIFE INSURANCE AND ANNUITIES MAY 03, 2021
Ohio National broker pitched VA trades as 'infinite banking': Finra

The B-D's $1.3 million settlement with the regulator involves its failure to supervise adequately a complex series of transactions involving variable annuities and whole life insurance policies.

Four-adviser UBS team managing $1.08 billion joins Raymond James
BROKER DEALERS MAY 03, 2021
Four-adviser UBS team managing $1.08 billion joins Raymond James

Group will join firm’s Deer Park, Illinois office in Chicago’s northwest suburbs

Wells Fargo veteran managing $482 million joins Baird
BROKER DEALERS MAY 03, 2021
Wells Fargo veteran managing $482 million joins Baird

James Galkowski will open an office for the firm in Rochester, Minnesota.

Team managing $200 million switches to LPL from Voya
BROKER DEALERS MAY 03, 2021
Team managing $200 million switches to LPL from Voya

The six-person Kraner group based in New Jersey is affiliating through INC Advisor, an office of supervisory jurisdiction.

Bitcoin bears: Financial advisers still cautious of crypto
FINTECH MAY 03, 2021
Bitcoin bears: Financial advisers still cautious of crypto

Hype from retail and institutional investors on digital assets isn’t enough to sway skeptical advisers who are weighing the risk and reward of crypto before adding the asset class to clients' portfolios.