News

WealthTech Winners Circle Podcast: Tech Assisting Advisors Now More Than Ever

Envestnet's Stuart DePina discusses how AI enables advisors to stay in touch with their clients.

RBC Adds Two Wirehouse Teams in the Northeast

The brokerage has recruited a team from UBS, with $650 million in AUM, and one from Merrill Lynch, with $220 million, this week.

COVID-19 to Take Hybrid Robo Advisors Mainstream

CB Insights says the recent market volatility shows that investors still want a human advisor relationship.

Encourage Clients to Embrace Family History

Portraits, photography and visual art are powerful tools.

I am a black woman advisor. Am I valued by this industry?

It's been hard for me to find mentors, and I've stopped attending most industry conferences.

An Operational Path Forward for Asset Managers

Hold on to the lessons of the pandemic as the industry tries to go back to "normal."

Editor's Letter: Do RIAs Need Corporate Welfare?

The argument some RIAs are making—that the PPP loan is a business loan, no different than any other, and comes with risk, and is not bailout money—just doesn't wash.

Focus Financial Network, More Large RIAs Disclose PPP Loans as Congress Passes Changes to Program

The new legislation will lengthen the amount of time in which businesses can spend the loan, as well as the amount of time in which they have to pay the loan back if it is not forgivable.

More Advisors Turning to ESG Funds

Nearly one-third of advisors plan to increase their use and recommendation of ESG funds over the next 12 months, up from 19% in 2019, according to a new FPA survey.

Tactical Approach Allows Flexibility to Achieve Clients’ Outcomes

Aligning Security Selection with Top-Down Macro Views

Private equity in 401(k)s? Not anytime soon

Very few plans include investments that use PE, and guidance this week from the Labor Department might not change that.

On Wednesday, the Department of Labor published a letter in response to Pantheon Ventures, clarifying that private equity is indeed allowed to be used within defined-contribution plans as part of a multi-asset investment strategy, such as a target-date product.

The post Private equity in 401(k)s? Not anytime soon appeared first on InvestmentNews.

Finra orders Merrill Lynch to pay $7.2 million over mutual fund overcharges

The brokerage reimbursed customers a year ago, earning a break on sanctions for cooperation

The post Finra orders Merrill Lynch to pay $7.2 million over mutual fund overcharges appeared first on InvestmentNews.

Merrill Lynch to Pay $7.2 Million for Mutual Fund Fee Violations

According to FINRA, Merrill Lynch failed to properly supervise its thundering herd so that clients received sales charge waivers and fee rebates, impacting 13,000 accounts.

Captrust confirms more and larger acquisitions on the horizon

With its first taste of PE capital, the $390 billion aggregator is poised for ramped up activity

The post Captrust confirms more and larger acquisitions on the horizon appeared first on InvestmentNews.

Investors Launch Funds for Historically Ignored Entrepreneurs

Andreessen Horowitz is looking for 'entrepreneurs who did not have access to the fast track in life but who have great potential.' SoftBank launches $100 million fund for 'companies led by founders and entrepreneurs of color.'

Wealthfront takes final step toward automated advice — direct deposits

In an email to customers on Wednesday, the independent robo-adviser announced new cash accounts that come with routing numbers and debit cards

The post Wealthfront takes final step toward automated advice — direct deposits appeared first on InvestmentNews.

Schwab-TD deal wins DOJ antitrust approval

The completion of the investigation is an “important milestone” toward the proposed acquisition, said Charles Schwab CEO Walt Bettinger

The post Schwab-TD deal wins DOJ antitrust approval appeared first on InvestmentNews.

Private equity gets a big win with U.S. nod to tap 401(k) plans

The Labor Department issued guidance Wednesday effectively allowing retirement plans to invest in buyout firms.

SEC charges Florida RIA with second books-and-records failure

E*Hedge Securities, which was operating COVID-related investment websites, ‘does not appear qualified’ to register as internet adviser, the agency said

The post SEC charges Florida RIA with second books-and-records failure appeared first on InvestmentNews.

The Year of the Active ETF

In the first five months of 2020, the 29 new active funds, including a wave of new non-transparent ETFs, have put the industry on pace for a total of 70, exceeding 2018 (64) and 2019 (59) levels, according to First Bridge Data.