It appears that more advisors are making the move to go independent — and there’s no sign of that trend stopping. New Fidelity Investment research found that approximately 1 in 6 advisors have switched from a corporate firm to go independent over the past five years. Additionally, advisors cite independent...
A Department of Labor official said the agency’s next attempt at setting investment advice standards for retirement accounts will not just be a rehash of previous fiduciary rules. “We’re intentionally referring to it as the retirement security rule rather than the fiduciary rule,” DOL assistant secretary Lisa Gomez told reporters...
Despite the broad stock market’s rise over the past year, with the S&P 500 up almost 19% in that time, Bank of America’s Global Wealth and Investment Management group, which includes Merrill Lynch, reported net income Tuesday morning of $1 billion in the quarter that ended in September, a...
Raymond James will soon be integrating fintech 55ip’s cutting-edge tax management technology across its managed accounts platform, the firms announced Tuesday. The partnership marks an industry first, the announcement said, as it will provide custom, tax-smart management at scale for Raymond James advisors and their clients. “The enhancements will make tax-smart...
Mercer Global Advisors has acquired a registered investment advisor, Kingfisher Capital, that manages $630 million in assets for more than 200 clients, the company announced Tuesday. Charlotte, North Carolina-based Kingfisher was founded in 1989 by Alexander B. Miles and H.K. Hallett and takes a family office approach to supporting its...
When a new communications channel is widely adopted by the public, it will eventually be used for advertising. Consider radio, TV and, of course, the telephone. The Telephone Consumer Protection Act was put into place in 1991 by the FCC to address a growing torrent of marketing phone calls....
The U.S. economy is set to improve by the end of the year according to 55% of respondents to a new survey from Morgan Stanley. The poll found that more than half also believe inflation will normalize by the time we welcome 2024 and 41% think it will be early...
Customer apathy towards life insurance and annuities is a decades-old challenge, but technology is helping the industry change perceptions. The latest generation of mobile apps and websites is boosting customer satisfaction as technology drives greater use of the products for financial planning and final planning (such as death benefits and...
The Treasury market is serving up levels of volatility last seen during the pandemic-era turbulence of March 2020. The U.S. 30-year yield shifted by almost 13 basis points a day over the last five trading days, the highest in more than three years and more than three times a much...
A brief 10% surge in Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the token. An erroneous report that BlackRock Inc. had won approval to launch a spot ETF rapidly...