Uncle Sam is not the only one telling investors to buy U.S. bonds. Financial advisors are too. PGIM Investments’ quarterly survey of advisors — conducted just before the banking turmoil in March and again in May — shows that financial advisors ranked Treasuries, municipal bonds and investment-grade corporate bonds as...
Investment advisors expressed confidence their clients won’t be among those targeted by the IRS in an initiative that cracks down on wealthy tax cheats. The IRS announced Friday that it would use funding from tax and climate legislation approved last year to increase scrutiny of high-income earners, partnerships, large corporations...
Women who put their careers on pause are more than twice as likely than men who do the same to go back to work after retirement. That’s according to data Friday from Charles Schwab, based on a June survey of 1,000 U.S. residents ages 22 to 88 with $50,000 to...
Natalie Wolfsen has stepped down as chief executive of AssetMark Financial Holdings to take over as the new CEO of Orion Advisor Solutions, a competing technology and turnkey asset management provider. AssetMark announced Friday that Michael Kim, a 13-year veteran of AssetMark, has been named the company’s new CEO, effective...
Here’s a quick multiple-choice quiz: Are annuities the functional equivalent of a pension? Can annuities be investments that have nothing to do with retirement? Do clients hate annuities? Do clients love annuities? Do many advisors find annuities so confusing that they prefer to ignore them? If you answered “Yes” to...
Flourish Cash, a division of fintech company Flourish that provides registered investment advisors with access to cash management, announced Friday it is increasing its top-tier annual percentage yield as well as the amount of assets protected by FDIC insurance. Advisors can now use Flourish, which is owned by MassMutual, to...
After a dispute about fees between a leading corporate governance watchdog and REIT management, the merger of two real estate investment trusts controlled by Nicholas Schorsch’s AR Global appears to have been approved Friday, resulting in a $375 million “internalization” fee to AR Global. The two AR Global REITs...
The SEC marketing rule, which runs for 430 pages, can be complicated. But the agency’s exam sweep on compliance with the rule is straightforward. The Securities and Exchange Commission is assessing how investment advisors are adhering to the regulation when advertising their firms. The measure, which allows advisors to use...
While Social Security is the bedrock of retirement income for many Americans, it can also serve as a lifeline for children when one or both parents retire, become disabled or die. Financial advisors and their clients often have questions about how and when children become eligible for benefits. In 2021,...
The Financial Industry Regulatory Authority Inc. is confronting a potential existential challenge in a federal appeals court in Washington, D.C. Judges presiding over the case have raised serious constitutional concerns regarding Finra’s authority to enforce securities regulations. To add to the pressure on Finra, William Barr, the former Attorney General under...