Search results for: SCO
Advisory M&A
Hub expands in Southeast; Nava acquires benefits consultancy; Cerity adds wealth managers focused on women-owned businesses; and more.
Retirement Industry People Moves
Perigon selects Hasan as CIO; State Street appoints Donohue as head of sustainability; GoldTree hires Plotke as principal.
Fidelity Latest Victim of MOVEit Hacks via Vendor PBI
PBI Research Services announced that more than 371,000 customers at client Fidelity had personal data exposed in the breach.
IAA: SEC Marketing Rule Still Top Concern for Compliance Teams
Investment advisories rank the marketing rule as the ‘hottest’ topic for the third year in a row, followed by cybersecurity and electronic communications monitoring.
SEC Changes Liquidity Fee, Gate Structure for MMFs
MMFs must be significantly more liquid in 2024 under new rule updates adopted this week.
Wake Forest Baptist Health Settles 403(b) Suit for $3.8M
The plaintiffs filed an unopposed settlement after “hard-fought” negotiations.
Judge Rejects Proposed Class Certification in Remanded TIAA Retirement Plan Case
Given the appellate court’s ruling, the district court found no ‘single policy’ affecting all putative class participants from Washington University in St. Louis.
Retirement Industry People Moves
Segal appoints Tauzer to senior VP; Cerulli promotes O’Brien to director; Newton announces Brain as deputy CIO; and more.
Investment Product and Service Launches
BlackRock Debuts First Buffer ETFs; SMArtX Adds 15 Investment Strategies; Fidelity Refiles Spot Bitcoin ETF Application.
J.P. Morgan Fined $4M for Recordkeeping and Outsourcing Failures
The SEC penalty addressed recordkeeping issues including the early deletion of 47 million emails.
Financial Advisers Feeling Starved of Time with Clients, J.D. Power Reports
Additionally, one in five advisers said they were less than five years away from retirement.
Advisory M&A
Heffernan announces acquisition of Barbary; Procyon Partners adds two senior advisers; WP Financial acquires Sage Financial Design.
Student Loan Forgiveness Program Stopped By Supreme Court
Eligible borrowers will not receive up to $20,000 in student loan debt forgiveness from the federal government.
Retirement People Moves
T. Rowe Price names new head of global distribution; IRI announces board changes; Northern Trust appoints Calcagno as senior wealth strategist; and more.
House Republicans Outline ESG Policy Goals
An interim report argued that the US should protect firms from foreign regulators and require more transparency on ESG issues.
Does Swing Pricing Have a Time Zone Problem?
Several House Democrats expressed concern to SEC officials that a hard close at 4 p.m. Eastern time would discriminate against investors on Pacific time.
On the Move
On the Move
Ben Cardin to Retire Senator Ben Cardin, D-Maryland, announced that he will not seek re-election in 2024. Cardin first entered politics in 1968 and was recently a key...
Roundtable
SECURE 2.0 Insecurities
3 experts cite clients’ biggest concerns about the new retirement act.
Number of Investment Advisers Hit Record High in 2022
The uptick occurred even as assets under management fell for the first time since the 2008 financial crisis, according to an annual study.
Retirement Industry People Moves
DriveWealth appoints Pizzorusso as global CFO; Burke joins Cetera Advisors; Hub International Mountain Welcomes Executive VP; and more.