When a client talks to their financial advisor about retirement, they want to be assured that they won’t run out of money, but it’s likely they won’t know how long it needs to last. That’s because there is a significant lack of knowledge about the life expectancy of a retiree...
An exchange-traded fund that aimed to track CNBC anchor Jim Cramer’s stock picks is planning to shutter just five months after launching. The Long Cramer Tracker ETF (LJIM) will stop trading Sept. 11, according to a press release Monday. The fund, which buys stocks recommended by the host of CNBC’s “Mad Money” show, has only...
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...
An SEC enforcement action against Titan Global Capital Management USA highlights the dangers investment advisors face when using hypothetical returns in their advertising, compliance experts said Monday. The Securities and Exchange Commission ordered robo-advisor Titan to pay $1,042,454 to settle charges that it violated the agency’s marketing rule when it...
Finra said Monday that it appointed Bill St. Louis as head of enforcement, making him responsible for the agency’s 350 enforcement staffers in 11 offices across the United States. St. Louis succeeds Christopher Kelly, the deputy head of enforcement, who had served as acting head of enforcement since February, when...
PensionPlus and Capital Group announced a partnership Monday aimed at launching a lifelong personalized paycheck service for retirees. The companies say the program will complement the Capital Group and American Funds target-date retirement series and will be offered to select retirement plan participants. Capital Group, home of American Funds, manages...
Several recent studies underscore the importance of Social Security as the bedrock of a secure retirement income plan, just as more than half of pre-retirees are questioning whether the program will be there for them. With apologies to Canadian songwriter Alanis Morrisette, isn’t it ironic? “With Americans living longer than...
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...
When the SEC finalizes rule proposals, the countdown begins on compliance deadlines for investment advisors and brokers. But the agency faces its own ticking clock when it comes to final proposals, thanks to next year’s elections. Congress can kill regulations through a parliamentary procedure called the Congressional Review Act, or...
Many investment advisors broke out in a cold sweat when the SEC announced in May 2021 that the landmark marketing rule the agency had approved the previous December would go into force on Nov. 4, 2022. The 18-month implementation deadline provided little comfort to registered investment advisors as they considered...