A federal automatic retirement savings program would undermine retirement plans offered by businesses to their employees, said critics of new federal legislation. Sens. John Hickenlooper (D-Colo.) and Thom Tillis (R-N.C.) last week introduced the Retirement Savings for America Act, which would establish portable, tax-advantaged retirement accounts sponsored by the federal...
Rudy Adolf, founder and CEO of Focus Financial Partners, will be retiring at the end of the year, the firm announced Monday. Adolf will be succeeded immediately by the chairman of the company’s board, Dan Glaser, who has been appointed interim CEO. Glaser is also an operating partner at...
It wasn’t until Thomas Kopelman left the constraints of a traditional broker-dealer that he was able to unleash the full potential of his social media strategy. His instinct told him early on that the industry’s methods of client acquisition at the time felt wrong. Being told to attend every networking...
Get ready, advisors! Goldman Sachs is stepping back into the RIA space. Not that it ever really left. Following months of gossip about the future of its investment advisor business, Goldman Sachs finally ended all the speculation in august by announcing the sale of its Personal Financial Management unit to Creative...
Women appear to be making some advance in the broad financial advice industry, with an increase in the numbers of women getting the certified financial planning designation last year just one example of that. There are roughly 320,000 working brokers and financial advisors in the United States, and for years...
Prior to taking the top job at Hightower Advisors in 2019, Bob Oros was a financial industry veteran, having climbed the executive ranks at Schwab, LPL Financial and Fidelity. But that wasn’t the only buzz he was making at the time. He was also a partner in a regional craft...
As the last quarter of 2023 begins, clients will likely be asking advisors whether they’re subject to required minimum distributions. That used to be an easy question to answer both for individual retirement account owners and beneficiaries. However, as a result of the confluence of changes made by the...
A growing number of asset managers are reassessing bond values tied to real assets, as a spike in the frequency of flash floods, fires and storms hits conventional pricing models. Mitch Reznick, head of sustainable fixed income at Federated Hermes, says climate risk is a key reason why the investment...
The financial advice business isn’t what it used to be — and many in the profession say that’s a good thing. With investment management effectively being outsourced to the dizzying number of model portfolios and home office research services available, stock picking just isn’t the main selling point of an...
As the last decade was drawing to a close, Creative Planning owner Peter Mallouk, an estate planning attorney who bought the firm in 2004, decided it was time to shift the business strategy. Since acquiring the firm, he had been relying on implementing a unified approach and process to clients’...