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SEC Safeguarding Rule Would Expand Investment Oversight to Crypto, Artwork
A proposed rule whose comment period ends Monday would have advisers obtain written agreements that segregate client assets to protect them from bankruptcy.
Retirement Industry People Moves
Thornburg Investment Management CEO to leave later this year; Franklin Templeton expands alts team; Lockton announces new global leadership structure; and more.
John Hancock, Voya Name New Investment Division Leads
Kristie Feinberg will take over as head of Manulife Investment Management in U.S., Europe, and John Hancock Investment Management; Barbara Reinhard named CIO of Voya’s investment arm.
Investment Product and Service Launches
Allianz Life enhances variable annuities; Brighthouse Financial improves Shield Level Annuities Product Suite; and more.
Fed Raises Rates Again, But How Can Investors Hedge Against Inflation?
Wharton School Professor Emeritus Jeremy Siegel spoke out against Fed rate hikes and laid out potential investor responses.
Small Business Owners More Likely to Phone a Friend, Not an Adviser
When asked whose counsel they would seek before setting up an employee retirement plan, small business owners prioritized family, friends and social media rather than financial professionals, according...
Franklin Buys Managed Accounts Firm to Expand Adviser SMA Offerings
The investment manager’s purchase of volScout will add to its managed investment strategies for advisers working with institutional clients and high-net-worth investors.
Hub Snags PE Firm Minority Stake, Announces More to Come
LGP has taken a minority stake in the insurance, retirement and wealth management aggregator to build on what the firm says has been fivefold growth in the last...
PGIM Takes Majority Stake in Direct Lender to Boost Alternative Offerings
The firm’s investment in Deerpath Capital Management comes as institutional and private investors look to alternatives for returns amid volatile markets.
LIMRA: Annuities Break Another Record in Q1, on Track for Record ’23
New PGIM research also signals a potentially larger market for the guaranteed income product.
Do Small Business Owners Need Retirement Advisers Too?
Amassing sufficient retirement income and the impact of taxes on retirement savings are small business owners’ top concerns.
Pensionmark Hires Compliance Head To Help With Acquisition Push
Jonathan Curley, a former RIA, will perform due diligence on firms Pensionmark is looking to acquire.
Senator Cardin Announces 2024 Retirement
The Maryland senator was a leader in drafting and passing SECURE 2.0 legislation.
Wilmington Trust’s Spun-Off CIT Division Is Now Great Gray Trust
The CIT division purchased by private equity firm Madison Dearborn Partners is now its own entity selling the popular 401(k) investment vehicle.
House Bills Would Expand Accredited Investor Pool to Include Clients of Advisers
The House Committee on Financial Services advanced a bill that would allow RIA clients to invest in unregulated offerings such as private placement stock shares.
JPMorgan’s First Republic Takeover Brings Chance of Keeping 150 Wealth Advisers
JPMorgan CFO Jeremy Barnum cites wealth management division as positive amid a deal the bank “did not seek out.”
Advisory M&A
Modera Wealth Management announces acquisition of Parsec Financial; Modern Wealth Management acquires Barber Financial Group; and more.
USI Consulting Acquires Actuarial, Retirement Plan Consultancy
USI expands its actuarial and retirement capabilities with the 68-person team of Hooker & Holcombe.
2023 RPAY – Apryl Pope, Retirement Plan Partners
Business at a Glance as of 12/31/22 Plan assets under advisement: 0 Median plan size (in assets): 0 Plans under administration: 0 Total participants served: 0 PLANADVISER: .Question....