Silicon Valley firm helps keep track of $1.7 trillion of assets

The ultra-secret world of ultra-wealthy investors is becoming slightly more transparent. Addepar Inc., whose investors include billionaire Peter Thiel and Palantir Technologies co-founder Joe Lonsdale, is working with hundreds of money managers to give a better sense of where their clients invest. Assets linked to the firm’s technology are growing at an average of $10 […]

SEC moving toward opening private markets to more ordinary investors

The Securities and Exchange Commission could issue over the next several months proposals to open private securities markets to more ordinary investors. The agency’s fall regulatory agenda, released on Wednesday, includes an item to reform the definition of who qualifies as an accredited investor eligible to buy non-public securities and a separate item to reform […]

Industry to face fresh wave of unpaid arbitration claims

The Financial Industry Regulatory Authority Inc., along with the rest of the securities industry, is staring at a fresh wave of unpaid — and embarrassing — arbitration awards. Arb awards go unpaid when investors win lawsuits against broker-dealers that sold them unsuitable, faulty or troubled products only to see the B-Ds go belly up and […]

How independent financial advisers can help themselves to retire

As a financial adviser, you have spent your career helping clients to build and protect their wealth so they can retire comfortably and accomplish the items on their bucket list. Ironically, it seems that many financial advisers have not taken their own advice. According to a 2018 study by the Financial Planning Association and Janus […]

Flows into bond ETFs surpass those into equity ETFs for first time since 2009

Whether it’s in response to the nonstop efforts to impeach President Trump, the record-level stock market valuations or any of several geopolitical concerns, a growing risk-off mood among investors is sending money flooding into fixed-income funds. Through mid-November, bond ETFs have already seen nearly $130 billion worth of net inflows, which surpasses the full-year record […]

There's a 'turf war' coming in financial advice

A “turf war” is brewing in the financial advice industry as firms across the advice continuum, from discount brokers and robo-advisers all the way up to private banks, have started branching into new market segments — a trend that will challenge financial advisers looking to win new business, according to Michael Durbin, president of Fidelity […]

REIT firm pays $8 million SEC fine over misleading accounting

Vereit Inc., a real estate investment company, agreed to pay an $8 million fine to the Securities and Exchange Commission this week over accounting irregularities dating back five years. The settlement, announced by Vereit Monday, brings to a close the SEC’s investigation of suspect accounting practices disclosed in an Oct. 29, 2014, SEC filing by […]

Wednesday links: processing the larger context

Did you know you can stay up-to-date with all of our posts via our daily e-mail newsletter? Sign up today! Quote of the Day “So much of trading psychology is possessing the mindfulness to process the larger context before acting on and reacting to the most recent market and trading events.” (Brett Steenbarger) Chart of […]

Hybrid managing $225 million switches to Commonwealth from LPL

BostonPremier Wealth, a hybrid firm managing $225 million in Hanover, Mass., has switched its broker-dealer and registered investment adviser affiliations to Commonwealth Financial Network from LPL Financial. [More: See more adviser moves in InvestmentNews’ Advisers on the Move database.] BostonPremier is led by partners Mark Bossey and Ryan Marini, who are joined in the move […]

Should I Get a Year-End Tax Projection?

Tax time is looming on the horizon, but you don’t have to wait until those 1099s and W-2s become available early next year to begin planning. A year-end tax projection can help you take stock of the past year and identify ways to maximize your tax situation, retirement savings, charitable contributions, and more before the […]

Personal finance links: just part of the story

Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at how to plan for long term care expenses. Quote of the Day “Don’t measure yourself against your neighbors or your friends, because what you see is just part of the story—and that part may […]

CEO transition at First Command Financial Services

First Command Financial Services, a $29 billion hybrid firm with 500 advisers, is transitioning its executive-level leadership, with a new CEO starting Jan. 1. Mark Steffe, 50, the current president and chief operating officer, will take over as chief executive in January, replacing current CEO Scott Spiker, who joined First Command in 2007 following a […]

Mutual fund conflicts pose issues for brokers under Reg BI

Conflicts of interest in mutual funds have grown more opaque and could trip up brokers and broker-dealers when they try to comply with the Securities and Exchange Commission’s new investment-advice regulation that takes effect next year. Conflicts of interest in mutual funds arise from certain payments that fund companies make to financial advisers and their […]

Empowered female advisers can make a difference

In the financial services industry, women represent fewer than one in five positions in the C-suite. This sharply contrasts with the reality that women are more engaged in financial decision-making than ever before, and are increasingly becoming the financial decision makers in their households. As women seek out financial advisers in larger numbers, it will […]

What firms can do to attract women advisers

In today’s increasingly global society, it’s become clear that in order for companies to thrive, their employees must reflect the wide range of clients and communities they serve. [More:​ From the C suite with New York Life’s Yie-Hsin Hung: Getting more women invested] In the wealth management industry, this theory and actual practice are way […]

Gender investing gap costs women in the long run, Krawcheck says

The most common — and potentially costly — mistake women make with money is that they fail to invest enough of it, according to Wall Street veteran Sallie Krawcheck. In fact, falling short in the amount or percentage of income they invest could cost some women more in the long run than the gender pay […]

Jay Clayton says SEC will collect only limited information about investors in new market surveillance initiative

Securities and Exchange Commission Chairman Jay Clayton said Tuesday a pending market surveillance system will limit the amount of data it collects on investors to their names, addresses and telephone numbers — not the kind of personal information that could expose investors to identity theft. Mr. Clayton addressed financial industry concerns about the so-called Consolidated […]

Technology isn't easy for big companies. Just ask Disney

Last week saw the official launch of Disney+, the new video streaming service from Disney that’s challenging technology companies like Netflix and Amazon. By the numbers, it was an overwhelming success, with 10 million people signing up on the first day. But the highly anticipated launch wasn’t without problems. Disney was seemingly unprepared for its […]

Buffer annuities push variable annuity sales to three-year high in Q3

Variable annuity sales hit a three-year high in the third quarter, a notable turnaround from their slump in recent years that largely reflects the growing sales of buffer annuities. Buffer annuities, a subset of variable annuities, are also known as structured, variable-indexed and registered index-linked annuities. If indexed annuities are for conservative investors and variable […]

Tuesday links: replicable excess returns

Did you know you can stay up-to-date with all of our posts via our daily e-mail newsletter? Sign up today! Quote of the Day “I do think it is prudent for us all to be skeptical of our ability to harvest replicable excess returns in the future from simplistic and highly transparent rules-based strategies amid […]

2 firms managing $455 million in total join Carson Partners

Yuma Investment Group Wealth Management, a Yuma, Ariz.-based adviser managing $350 million, and Diamond Wealth Management, which manages $105 million in Las Vegas, Nev., have joined Carson Partners. [More: See more adviser moves in InvestmentNews’ Advisers on the Move database.] Carson Partners, part of the Omaha, Neb.-based Carson Group, provides technology tools intended to streamline […]

SEC files action to stop $6 million Ponzi scheme in Florida

The Securities and Exchange Commission has filed an emergency action and obtained a temporary restraining order and asset freeze against Neil Burkholz of Boca Raton, Fla., Frank Bianco of Pembroke Pines, Fla., and two companies they control in connection with an alleged $6 million Ponzi scheme that defrauded at least 55 investors. Many of the […]

Creative Planning acquires $400 million OptiFour

Creative Planning, an Overland Park, Kan.-based RIA, has acquired OptiFour, an RIA firm located in McLean, Va., outside Washington, D.C. [More: RIA consolidation could put $2.4 trillion in play over next decade] OptiFour, founded in 1997, custodies its $400 million in assets under management at Schwab and Fidelity. [Recommended video:​ Who are the 2019 InvestmentNews […]

Research links: filtering noise

Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the case against REITs as a portfolio diversifier. Quote of the Day “Good investment decisions are based on filtering noise.” (Mark Rzepczynski) Investment factor Factors The Medallion Fund Research

The Easiest Real Estate Investing Strategy To Build Wealth

Ever since selling an SF rental property in 2017, I’ve been a happier man. Not having to deal with disrespectful tenants and maintenance issues while I was busy being a first-time dad has been a blessing. The reinvested proceeds were split pretty evenly between the stock market, the bond market, and a portfolio of 17 […]

Pizza Delivery is for Millionaires

My son and I are having a beautiful Saturday night here at home. The sun is setting over the mountains outside my bedroom window and I’ve just finished baking a pizza which I am about to serve up for his dinner. Although our day has been very simple, there has been an underlying magic within […]

Join the diversity movement

It might be 2019, but cringe-worthy news stories make it seem like it’s 1959. At the annual Financial Planning Association conference in October, I swapped cringe-worthy, 2019, real-life stories with four esteemed women financial planning thought leaders. We’re getting way too old for this. [More:​ From the C suite with New York Life’s Yie-Hsin Hung: […]

Complaint claims Ohio National poses 'danger' due to its 'illegal' activity

An insurance agent filed a complaint Friday with the Ohio Department of Insurance against Ohio National Life Insurance Co., alleging that the insurer’s treatment of a customer’s insurance premiums broke the law and that three senior executives tried to “cover up” the activity after it was reported internally. Elisia Lattimer, an insurance agent formerly employed […]

Learning how to instill confidence in clients

According to the Merrill Lynch Women & Financial Wellness report released earlier this year, the No. 1 financial regret that women have is not investing more of their money. [More:​ From the C suite with New York Life’s Yie-Hsin Hung: Getting more women invested] A lack of investment knowledge and lack of confidence were reported […]

John Roque on the decline of technical indicators

[embedded content] Barry spoke with John Roque, one of the most respected technical analysts in the industry, formerly of Soros Fund Management, about why some of the classical technical indicators are no longer working in the modern markets. You don’t want to miss this one. And be sure to subscribe to our channel, as thousands […]

UBS hires 9 reps managing $1.6 billion

UBS has recruited nine advisers managing a total of $1.6 billion. [More:​ See more adviser moves in InvestmentNews’ Advisers on the Move database.] Accounting for most of the new assets that may be coming to the firm is a three-adviser team — Dan Emerson, Scott Emerson, Angelo Esposito — who managed $676 million at Merrill […]

RIA consolidation could put $2.4 trillion in play over next decade

The aging financial adviser demographic is expected to put $1.6 trillion worth of client assets in play over the next five to 10 years, according to research from Cerulli Associates. The Boston-based consulting firm counts $2.4 trillion in client assets as the total addressable market for potential registered investment adviser acquisitions over the next 10 […]

House poised to pass bill giving SEC more power to claw back investor losses

The House is expected to approve legislation Monday evening that would give the Securities and Exchange Commission more power to claw back investor money lost in securities fraud. A recent Supreme Court decision, Kokesh v. SEC, capped the SEC’s look back at five years. The bipartisan bill, the Investor Protection and Capital Markets Fairness Act, […]

Honoring the top women in the advice industry

Welcome to InvestmentNews’ fifth annual Women’s Issue, the only issue in the entire year where we hold off on sharing breaking news and features to focus our complete attention on the women who are leading the financial advice industry and inspiring the next generation of advisers. [More:​ From the C suite with New York Life’s […]