News

MassMutual looks to sell retirement biz: report

The financial services firm sold its OppenheimerFunds business a couple of years ago

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ESG gaining ground in 529 programs

More than a dozen college-savings plans now include at least one investment option following environment, social and governance criteria

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Morgan Stanley adds to bet on steepening yield curve

The firm's strategists say that with the U.S. economy improving, 10-year Treasury rates will become a key driver

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RIAs taking PPP loans is not so black and white

Some in the industry are questioning whether it's appropriate for advisers to accept these forgivable loans

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The power of information

I won’t pretend to have solutions to the rampant polarization in our country, but knowledge improves discourse, and discourse leads to solutions

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Battle of the business models

RIAs keep gaining, while small broker-dealers are feeling increased pressure from the pandemic as well as the need to comply with Reg BI

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Junk bonds benefit from Fed support

The Fed reported late last month that it had purchased some $1.3 billion of exchange-traded funds, including $223 million of high-yield bond ETFs

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Retirement worries rise most for women during pandemic

Already facing greater retirement-security challenges, women said the crisis has put them farther behind, according to a recent survey

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Finra’s fine proceeds to upgrade technology, track trading, educate investors

The self-regulator used $39.5 million in fines plus another $31.6 million from reserves for the initiatives

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Court says fraud will cost Navellier more than $31 million

The SEC case alleged the firm and its founder knew, but didn’t tell, about misrepresentations of fund performance

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Court says fraud will cost Navellier almost $38 million

The SEC case alleged the firm and its founder knew, but didn’t tell, about misrepresentations of fund performance

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Finra adds human resources officer

Rainia Washington becomes the lone African-American executive at the regulator

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Goldman executive has advice for his white colleagues

Frederick Baba, a managing director at Goldman Sachs, recalls a litany of black deaths and the protests that followed

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Team managing $285 million switches to Raymond James from Waddell & Reed

The trio of advisers operates as PDX Wealth Management in Lake Oswego, Ore.

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Private equity in 401(k)s? Not anytime soon

Very few plans include investments that use PE, and guidance this week from the Labor Department might not change that.

On Wednesday, the Department of Labor published a letter in response to Pantheon Ventures, clarifying that private equity is indeed allowed to be used within defined-contribution plans as part of a multi-asset investment strategy, such as a target-date product.

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Finra orders Merrill Lynch to pay $7.2 million over mutual fund overcharges

The brokerage reimbursed customers a year ago, earning a break on sanctions for cooperation

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Captrust confirms more and larger acquisitions on the horizon

With its first taste of PE capital, the $390 billion aggregator is poised for ramped up activity

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Wealthfront takes final step toward automated advice — direct deposits

In an email to customers on Wednesday, the independent robo-adviser announced new cash accounts that come with routing numbers and debit cards

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Schwab-TD deal wins DOJ antitrust approval

The completion of the investigation is an “important milestone” toward the proposed acquisition, said Charles Schwab CEO Walt Bettinger

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SEC charges Florida RIA with second books-and-records failure

E*Hedge Securities, which was operating COVID-related investment websites, ‘does not appear qualified’ to register as internet adviser, the agency said

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