SEC Eyes Data Collection Conflicts in New Comment Request
SEC Chair Gary Gensler says the emergence of new investment technologies that embrace gamification and collect user data raises questions as to whether investors are appropriately protected.
Tag: Broker/Dealers
Ambitious Firms Seeking Vertical Integration in the Financial Services Industry
The concept of ‘vertical integration’ is historically association with heavy manufacturing industries such as steel production, but it is increasingly the goal in financial services M&A transactions.
Mergers and Acquisitions Hit Hard by COVID-19
Between March and May, there were only 10 RIA transactions and two IBD deals, according to Fidelity.
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Investing
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Compliance
PANC 2019: Learning From Adviser M&A Transactions
Why two advisory practices decided to sell and become part of a larger benefits broker and a wealth management company.
Industry Demands Delay of New Jersey Fiduciary Regs, Deference to SEC
Advocacy and lobbying organizations representing the interests of brokers/dealers and investment advisers operating in New Jersey continue to voice their disapproval of the proposed regulations.
Fund Manager Comments to SEC Bemoan ‘Flawed’ Disclosure Framework
“Because funds bear the cost of shareholder report delivery, intermediaries have little incentive to negotiate lower delivery rates with the fulfillment vendor or otherwise control costs,” the Investment Company Institute argues.
Many Asset Managers De-Channel Their Salesforces
They see the differences between wirehouses, broker/dealers and registered investment advisers blurring.
GRP Offers Accommodation B/D Services
To ensure regulations compliance and proper treatment of broker/dealer income, Global Retirement Partners (GRP) will offer access to accommodation broker/dealer services.
Pershing Unveils Retirement Plan Network
Pershing rolled out the Retirement Plan Network, which aims to help broker/dealers, investment advisers and registered investment advisers (RIAs) expand their retirement business.
Industry Groups Urge No Further Rules for Brokerage Windows
Responding
to a request for information from the DOL, most industry groups said they
believe no further regulation is necessary to govern use of brokerage windows
in retirement plans.
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trendspotting
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Stacking Up
The 2014 PLANADVISER Retirement Plan Adviser Survey
Trendspotting
Articles from the Trendspotting section of the magazine
GRP Recruits Three from 401(k) Advisors
Three 401(k) Advisors consultants—Austin Gwilliam, Jason Jeskey and Kyle Posvistak—have joined Global Retirement Partners (GRP).
LPL Upgrades Reporting Platform
The latest release of the Portfolio Manager investment
platform and reporting system from LPL Financial features customizable firm
branding capabilities and time-saving scheduling options.
RCS Capital to Acquire Cetera for $1.15B
In a move expected to create one of the largest broker/dealer networks in existence, RCS Capital Corporation (RCAP) is set to acquire Cetera Financial Group for $1.15 billion.
Stifel, Nicolaus Consents to FINRA Fines
The Financial Industry Regulatory Authority (FINRA) has ordered Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc. to pay fines and restitution to customers in connection with sales of leveraged and inverse exchange-traded funds (ETFs).
SEC Issues Call to Expand Oversight
The Securities and Exchange Commission (SEC) released twin recommendations advising Congress to align adviser and broker/dealer fiduciary standards and exact “user fees” from SEC-registered advisers.
DC Market Could Surpass $4.2T Next Year
The 401(k) market’s annual growth rate is holding at 9% and could push total assets beyond $4.2 trillion next year, a report from Ignites Retirement Research shows.
Mutual of Omaha Adds LPL Financial Solutions Platform
Mutual of Omaha’s retirement plans division has added LPL Financial’s retirement advice and education solutions to its 401(k) products.
Vanguard Streamlines Funds, Expands Admiral Shares
Vanguard announced intentions to streamline its
investment offerings by merging five funds that have similar objectives and
investment strategies.