Sean “Diddy” Combs surprised the music industry and its observers recently when he decided to transfer rights from his Bad Boy Records catalog to some of the artists and songwriters who long ago helped make him a billionaire. Although there has been no shortage of news coverage, there aren’t many...
A former Federated Hermes employee this week sued the company because it included its own funds in the company’s 401(k) plan. The asset management firm is latest to be targeted by a plaintiff’s law firm over the issue of using in-house products rather than comparable funds from outside providers that...
Looking at some recent headlines about the drops in BlackRock’s and Vanguard’s support for shareholder resolutions, it would seem as if ESG is all but dead — with politicians winning the odd battle they’re waging on the asset managers. After all, BlackRock supported just 7% of environmentally and socially themed...
The SEC’s loss in court Tuesday means that the agency must go back and review Grayscale’s spot bitcoin ETF application — but don’t expect any products to come to market soon. In a ruling issued earlier Tuesday, the U.S. Court of Appeals for the District of Columbia Circuit wrote that...
The retirement plan world is breathing a sigh of relief after the IRS Friday announced a two-year delay on requiring high-income workers who make 401(k) catch-up contributions to do so in Roth accounts. For months, plan sponsors had worried about a provision of the SECURE 2.0 Act slated to go...
The average price for U.S. houses sold during the second quarter was nearly $500,000 — that, coupled with the highest mortgage interest rates in over 20 years, could make a 401(k) loan appealing for buyers. Whether that’s a good idea is another matter. In the best-case scenario, financial advisors say:...
A boutique fund manager with a line of single-Treasury-bill ETFs is trying to follow in Vanguard’s footsteps — but in reverse — hoping to add a mutual fund share class to the products. On Tuesday, F/m Investments filed a request for exemptive relief with the Securities and Exchange Commission for...
Investors in their golden years have increasingly been targeted by precious metal and collectible coin providers — a trend that state regulators, lawyers and financial advisors say needs to stop. This month, numerous states signed on to a bankruptcy plan for Lear Capital, a precious metals firm that has been...
An SEC case against a Massachusetts advisor has big implications for the regulator’s oversight of insurance products, a law firm cautioned in a brief filed Monday with the federal court. Earlier this year, the Securities and Exchange Commission brought a complaint against investment advisory firm Cutter Financial Group and its...
To highlight the differences between ESG funds, it’s helpful to think about dogs. For those who don’t immediately conjure an image of a Golden Retriever, maybe a teacup Chihuahua comes to mind — or perhaps a St. Bernard. And there are far too many types in between to even consider...