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ESG is about quality, not quantity
OPINION JAN 24, 2023
ESG is about quality, not quantity

We have reached a moment of reflection after a period of exuberant expansion.

LPL adds two tech execs from Bank of America
BROKER DEALERS JAN 24, 2023
LPL adds two tech execs from Bank of America

Cory Triolo and Tim Checko are joining the IBD's investor and investment solutions team.

Recruiting takes a hit in 2022, with moves down 5.3% from 2021
RIAS JAN 23, 2023
Recruiting takes a hit in 2022, with moves down 5.3% from 2021

On net, the RIA channel gained 1,097 advisors and independent broker-dealers gained 923, while 1,291 advisors on net left wirehouses.

IARs in 10 states, D.C. must complete continuing education by year-end
PRACTICE MANAGEMENT JAN 23, 2023
IARs in 10 states, D.C. must complete continuing education by year-end

The CE requirements are the first for investment advisors, who must take 12 credit hours of courses in products and practice as well as ethics.

New software aims to reduce risk in target-date funds
RETIREMENT PLANNING JAN 23, 2023
New software aims to reduce risk in target-date funds

Soteria blends personalized safe-landing target-date fund glide paths with the personalization of managed accounts.

Business owners altering retirement plans due to inflation, recession fears: Survey
RETIREMENT PLANNING JAN 23, 2023
Business owners altering retirement plans due to inflation, recession fears: Survey

A survey of business owners shows that amid inflationary pressures and economic uncertainty, 43% of those who work with an advisor say they've communicated with their advisor more frequently in the past year.

Tribes place generational wealth in their own hands
EMERGING MARKETS JAN 23, 2023
Tribes place generational wealth in their own hands

Native Americans are gaining economic muscle, and that expands horizons for investors and advisors who want to be part of their rise.

Questioning the SEC’s outsourcing proposal
PRACTICE MANAGEMENT JAN 23, 2023
Questioning the SEC’s outsourcing proposal

For advisors who don’t do their homework, the possibility of a regulatory slap on the wrist may be less of a deterrent than a whack in the wallet from aggressive attorneys.

Fintech Bytes: Broadridge extends Canadian partnership; startup attracts funding from advisors
FINTECH JAN 20, 2023
Fintech Bytes: Broadridge extends Canadian partnership; startup attracts funding from advisors

Plus First Rate, a Texas-based provider of wealth management technology, has acquired Finantech SpA, a Santiago, Chile-based reporting fintech.

FNZ acquires YieldX to accelerate US growth
FINTECH JAN 20, 2023
FNZ acquires YieldX to accelerate US growth

YieldX’s technology will be integrated into FNZ’s existing product to enable advisors to scan the universe of fixed-income securities.

Women delaying retirement at higher rate than men
RETIREMENT PLANNING JAN 19, 2023
Women delaying retirement at higher rate than men

A new report from Nationwide shows 62% of women are putting off retirement or don’t believe they will ever retire due to inflation, compared to 47% of men.

DriveWealth CEO departs after eight months
FINTECH JAN 19, 2023
DriveWealth CEO departs after eight months

Founder Bob Cortright is stepping back in as global CEO of the digital custody and clearing firm upon the exit of Terry Angelos.

Total number of CFPs hits new high
PRACTICE MANAGEMENT JAN 19, 2023
Total number of CFPs hits new high

The CFP Board also reports all-time highs in the number of new women and racially diverse CFPs.

Principal partners with YieldX, Smartleaf on fixed-income direct indexing
FINTECH JAN 18, 2023
Principal partners with YieldX, Smartleaf on fixed-income direct indexing

Other direct indexing products have avoided the fixed-income space because it has a different liquidity profile and requires going directly to dealers.

CFP bans use of credential by advisors accused of neglecting, misleading clients
PRACTICE MANAGEMENT JAN 18, 2023
CFP bans use of credential by advisors accused of neglecting, misleading clients

One advisor allegedly recommended unsuitable investments to a client and then failed to monitor her portfolio or meet with her. Another claimed in an ad his retirement program could raise all the money needed for a nest egg in 3 to 5 years.

Zoe Financial referral program evolves into one-stop practice management platform
RIAS JAN 18, 2023
Zoe Financial referral program evolves into one-stop practice management platform

The Zoe Wealth Platform charges a fee based on advisory assets for everything an RIA needs to work with clients.

Organic asset growth is health
OPINION JAN 18, 2023
Organic asset growth is health

The best-managed RIAs closely monitor growth by measuring net new assets and revenues, both from the addition of new clients as well as existing clients adding to their investment portfolios.

Beware of breaching your fiduciary obligations related to client data
OPINION JAN 18, 2023
Beware of breaching your fiduciary obligations related to client data

The industry has focused almost exclusively on cybersecurity controls over the past few years, instead of understanding what their core obligations and fiduciary responsibilities are for client data.

Citi summons unproductive remote workers to office for coaching
PRACTICE MANAGEMENT JAN 18, 2023
Citi summons unproductive remote workers to office for coaching

Most Citigroup staffers are supposed to be in the office three days a week, but if their productivity dips, they can expect to spend more time there.

The AI revolution is here
FINTECH JAN 17, 2023
The AI revolution is here

Can ChatGPT give good financial advice? InvestmentNews fed the algorithm questions to see how its AI stacks up.