News

PPP Data Errors Raise Questions About Effectiveness of Stimulus

The PPP was designed to keep employees of small businesses on payroll during the pandemic. Out of almost 4.9 million loans, the number of “jobs retained” is zero for 554,146 and blank for 324,122. Seven loans list negative job numbers.

RBC recruits duo with $245 million

The Albuquerque, New Mexico-based advisers are joining from Maplewood Investments

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The old 60-40 formula for stocks and bonds has run into trouble

With Treasury yields now hovering around zero, and likely to stay there for years, expected gains from the traditional asset mix are in doubt.

First Eagle expands into asset-based lending with new hires

The manager joins firms including JPMorgan and Arena Investors in seeking opportunities in the sector, particularly in the wake of the coronavirus pandemic.

Revised ETF regulations could change the game

Regulatory shifts may make ETF investment options more appealing

New Hampshire investigating churning claims against Merrill brokers

Former governor says the firm, two former brokers were responsible for $50 million in losses

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Many fund managers could keep trades secret under SEC plan

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.

Wall Street benefits from Fed’s support for corporate debt

Fees for underwriting investment-grade bonds doubled in the first half

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Celebrity Estates: Arnold Palmer and Investing in Wine

What does a wine investment entail, monetarily and logistically, and how do you plan for it?

SEC proposes easing reporting requirements for funds

Funds would be required to report holdings quarterly if they have at least $3.5 billion of equities, up from the current threshold of $100 million

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Election 2020: Planning for a Democratic Victory

A panel of tax experts discuss the planning strategies clients should take now in the case of a Democrat winning the White House in the upcoming election.

‘Lost and found’ 401(k) bill is good for the advice industry

While not exactly novel, the legislation is a sound first step toward getting Main Street investors the tools they need

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Maximizing your digital magazine experience

Bringing back the physical version last month further informed our desire to deliver this magazine in all the ways that you need it

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COVID-19 puts alternatives back in the mainstream

The new normal is reigniting conversations around the potential for alternative investments to add diversity and hedge risk

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Wawa settles ESOP lawsuit for $21.6 million

The agreement is separate from a $25 million settlement reached in a similar suit brought in 2016

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Q&A: iCapital Network’s CEO Lawrence Calcano

Calcano talks automation, the firm’s recent acquisition of Wells Fargo’s alternative investments platform and expectations for tech moving forward

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Oklahoma pulls back Form CRS mandate for state-registered advisers

Rhode Island keeps its requirement on the books

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ETF providers struggle to steer institutional investors away from lower-cost retail funds

Large investors are giving up liquidity and tighter spreads for lower fees

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A CARES Act RMD bonus for retirement savers

Coronavirus-related distribution provisions can now be returned and there’s a larger pool of recipients eligible for relief. Here’s what advisors need to know

Two Former deVere Execs to Pay $750,000 for Overseas Pension Transfer Violations

A U.S. District Court entered final judgements against former deVere CEO Benjamin Alderson and a former manager, Bradley Hamilton. Alderson was ordered to pay a total $400,000 in disgorgement, prejudgment interest and civil penalties, while Hamilton owes $350,000.