Wealth Management industry news covering the financial markets, trends and wealth professionals.
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As more wirehouse registered reps join RIAs or start their own, as income tax rates rise, and as Baby Boomers continue their march into retirement, expect investments in no-load variable annuities to grow.
Though it recently wrapped up a national advertising campaign for Merrill Lynch, Bank of America continues to ramp up branding of the division, with an extension of the Merrill New York Yankees sponsorship as well as recent visits to Merrill...
Legislators in Congress are reportedly considering creating a kind of Roth IRA version of the estate tax. On The Money, a blog of the congressional newspaper The Hill, this week said lawmakers are considering whether to let taxpayers have the...
After Edward Jones lost two top producing reps and increased production expectations last month, some media outlets and recruiters made a lot of noise about rising advisor defections at Edward Jones. The truth is, Edward Jones attrition remains...
With news Thursday that a preliminary criminal investigation has been launched into some of Wall Street’s biggest firms concerning potentially misleading sales of CDOs to clients, the fiduciary train is set to gain additional momentum in...
Dimensional Fund Advisors (DFA) is riding high. At a time when many investors are abandoning actively managed stock funds, DFA’s passive portfolios have been attracting a steady flow of cash.
BOMs are increasingly considered a cost of goods sold on the P&L statement. Consolidation is forcing them out of the business, or, if they are lucky, they are being pushed back into production. Or they can take a pay cut.
FINRA Chairman and CEO Richard Ketchum thinks broker/dealer firms need to bulk up on disclosure regardless of whatever rulemaking comes out of Congress on the fiduciary issue. He also said that there need to be shock absorbers in the market for...
A growing number of websites is offering consumers tools for budgeting, goal planning, and investment trading. A few of these personal financial management (PFM) sites are drawing big numbers of clients.
A number of senators, Republican and Democrat, are scrambling to get on the fiduciary bandwagon following last weeks' Goldman Sachs hearings. A flurry of amendments have been, or will be, introduced this week that would apply the fiduciary...