Consumers looking for retirement and tax planning advice may have a hard time finding an advisory firm that offers both. And advisors might want to step up to the plate to provide that combination. That’s one of the notable findings of a study released last week by Herbers & Co.,...
A federal judge last week denied a broker’s effort to stop Finra from disciplining him. Eugene H. Kim filed a lawsuit in a Washington, D.C., federal court against the Financial Industry Regulatory Authority in August challenging its enforcement authority. In July, the broker-dealer self-regulator alleged that Kim misused customer funds...
PGIM, Prudential Financial’s investment management unit, said Tuesday that it’s lowering the fees on its target-date funds and collective investment trusts. The target-date series, the Prudential Day One Funds, has been renamed the PGIM Target Date Funds, and the funds’ net expense ratio will be cut to 0.25% from 0.40%. The...
The United Auto Workers want something that most Americans don’t have: traditional pension plans. It’s one of the union’s core demands that could help end the strikes at Ford, General Motors and Stellantis. But at a time when companies are trying to shed their financial liabilities for workers’ retirement security,...
The October 2023 edition of the latest in financial #AdvisorTech kicks off with the news that custodial platform Altruist is eliminating the $1-per-account monthly fee for its portfolio management and reporting technology for advisors on its platform. On one hand, that suggests that the economies of scale Altruist has...
The Financial Industry Regulatory Authority Inc. has penalized plenty of broker-dealers over sales of private placements manufactured by GPB Private Holdings, typically for selling the high-risk securities in 2018, when GPB had failed to file required audited financial statements for two of its biggest limited partnerships with the Securities...
Reports of the demise of excess U.S. household savings were greatly exaggerated. Revised government data indicate that Americans have hundreds of billions of dollars more in extra cash stashed away than previously believed. “It definitely raises the prospects of a soft landing pretty significantly,” Citigroup Inc. senior global economist Robert...
A team that oversaw $900 million in client assets at RBC Wealth Management has affiliated with LPL Financial’s LPL Strategic Wealth Services, the firm said. The four advisors are launching Sides Wealth Advisory Group in York, Pennsylvania. The practice was founded in 1987 by Scott Sides and the team plans to...
Authenticity is one character trait that is driving women toward success, especially in the wealth management industry. So why is it important? “When you are clear about your authenticity, it inspires trust because you are drawing in and aligning yourself with clients that also share your value,” said Tiffany Soricelli,...
When you ask Seth Streeter what he likes about the financial advice industry, he talks about what he loves. “I love that we operate from a place of caring,” Streeter said. “In finance, it’s such a head-based industry, and we try to be more heart-based. And so that’s how we...