Financial planning (Page 2)

Wealth managers still wrap their arms around the best interests of SEC regulation, even as they try to discredit the view that the 2020 rule has failed. changed industry practices. That was the key takeaway from a May 18 panel at FINRA’s annual conference featuring two industry governors from theRead More →

A giant wealth manager looking to tap into opportunities in a consolidating industry channel has struck a deal to make its biggest acquisition in more than two years. Advisor Group will buy Infinex Financial Holdings, the parent company of a growing but still mid-sized wealth manager, which has around 750Read More →

Financial planning continues its annual analysis of advisers’ base pay by looking at payout rates for those with $600,000 in production in 2022. Scroll to see where each business is located. To view last year’s data, please click here. To see what industry experts expect from advisor compensation this year,Read More →

Depending on whether you are a wealth manager, solution provider or regulator, the question “what is fintech?” can be answered in a slightly different way. But the bond that unites us is innovation. Industry players and industry watchers agree that without it, you might just be making apps. “It goesRead More →

With the recent market downturn, I’ve received a lot of questions about bear markets and how best to answer them. Here are some frequently asked questions that might be helpful. Q: What is a bear market and how is it different from a market correction? A: There is no “official”Read More →

SEC Chairman Gary Gensler once again speaks out on robo-advisors and fintech brokers, raising concerns about potential conflict of interest in these algorithm-based platforms. Speaking at the North Americans Securities Administrators Association symposium On Tuesday, Gensler said digital engagement practices such as robo-advisors and brokerage apps should be scrutinized toRead More →

What motivates top advisers who drop the ball to risk disrupting the momentum by making a move? There’s no doubt that every advisor wants to improve their ability to grow their business. But ultimately, most will share that the quest to provide more – and better – service for customersRead More →

When Santiago Burridge founded Lumiant in 2020his more than 15 years of experience as a financial advisor were instrumental in the process. Now a solutions provider, Burridge said he wanted to find a way to leverage technology to harness “every advisor’s superpower” – the ability to guide and coach clients.Read More →

Financial planning continues its annual analysis of advisor base pay by looking at payout rates for those with $400,000 in production in 2022. Scroll to see where each business is located. To view last year’s data, please click here. To see what industry experts expect from advisor compensation this year,Read More →

This year’s Morningstar Annual Investing Conference in Chicago touched on big themes and new ideas on its first day: the individualization of investing, inflation, changes in sustainable investing and the risk of recession due to Russia’s invasion of Ukraine. From “active customization” to “shoring friends” to SUVs and Formula 1Read More →

A screenshot from FINRA’s annual conference in May 2022 shows CEO Robert Cook in conversation with SEC Chairman Gary Gensler during a session at the event.FINRA Add SEC Chairman Gary Gensler to the growing chorus of regulators and critics calling for tougher rules on complex products, despite cries of protestRead More →

Although market conditions are making the life of financial advisors more complicated by the day, answering the question of what planners will be paid in 2022 is quite simple. In many cases, it will be the same as last year, with the exception of inflation which potentially plays with payments.Read More →

Funds specializing in artificial intelligence or gender equality might attract investors’ attention, but financial advisers should think twice about its risks and returns before recommending thematic ETFs to their clients. Research from the EU business school suggests that thematic ETFs and their related underlying indices are at odds with theRead More →

Wells Fargo has promoted Sol Gindi to head Wells Fargo Advisors, turning to a former JPMorgan Chase executive to lead its team of financial advisors. Gindi will replace longtime Wells executive Jim Hays, who has held the position for nearly three years and is retiring after 35 years in theRead More →

Disclosures: This document does not provide personalized investment advice. It has been prepared without taking into account the personal financial situation and objectives of the people who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate specific investments and strategies, and encourages investors to seekRead More →

NEW YORK–(BUSINESS WIRE)–May 11, 2022– Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE: EQH), has launched a unique partnership and curriculum with Columbia University. The program invites finance professionals to study a specific curriculum focused on holistic financial planning and supporting clients in achieving their lifeRead More →

NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE: EQH), has launched a unique partnership and curriculum with Columbia University. The program invites finance professionals to study a specific program focused on holistic financial planning and supporting clients in achieving their life goals and dreams.Read More →

The human brain is amazing. Although the average human brain weighs only about 3 pounds and is just under 6 inches long, it can do things that no supercomputer can match. He can reason, create and show empathy. It can remember the past, plan the future, and live the presentRead More →

With RIA reaching new milestones every year, a billion-dollar practice has gone to an old friend who helped get it started when the two companies started a decade ago. Financial advisers Brad Kowalczyk, Mark Moshier and Scott McCartney of Ascent Wealth Partners, an RIA with three offices in upstate NewRead More →

Henderson Loggie Financial Planning has appointed Jonathan McDowall and Ricky Clark to the board. Both Jonathan and Ricky are very experienced financial planners and have been instrumental in the significant growth of Henderson Loggie Financial Planning over the past five years. These appointments further strengthen the leadership team under newRead More →

Budgeting and financial planning are two terms that are easily confused. Both apply to personal finance and both are activities that can help you succeed financially now and in the future. Yet, even though the two go together, they are not the same. Here’s how they differ and how theyRead More →

A financial adviser faces charges of theft, conspiracy and impersonation of a law enforcement officer after detectives linked him to a bizarre botched crime in the summer of 2020. Anthony A. Naso was arrested May 4 in Paramus, New Jersey, after investigators reviewing DNA evidence, surveillance footage, vehicle records andRead More →

People come and go. But financial advisory firms are seeing a bit more lately these days. Last year, about 7% of FINRA-registered representatives left the industry while only 6% entered the space, according to a FINRA Instant Report. As a result, the total number of representatives registered with FINRA continuedRead More →

Acquiring wealth management group Fairstone has completed the purchase of a Cumbrian financial planning firm as the latest addition to its growing portfolio. North East-based Fairstone said Carlisle-based Financial Concepts directors Darren Turnbull, Anthony Phillipson and Nigel Shackleton decided to join Fairstone to support growth ambitions. Financial Concepts joined Fairstone’sRead More →

What do you want to know Orion’s new tool helps advisors keep clients calm during market volatility and improves financial results. Envestnet announces several spring updates that improve its platform. Snappy Kraken acquired industry website builder and advisor website from existing integration partner. Orion Advisor Solutions has added behavioral financeRead More →

There’s a lot of wisdom in simplicity, especially when it comes to investing. You don’t need advanced degrees and genius intelligence to be a successful investor. Above all, it requires common sense and a lot of discipline. Warren Buffett mentioned this idea in a 2010 interview published in Forbes magazine.Read More →

Financial advisors play a major role in preventing fraud and exploitation of older adults, but in some situations they must rely on their firm’s hardened teams and systems, experts say. Wealth managers and advisers from companies such as Wells Fargo Advisors, Morgan Stanley, Fidelity Investments, Commonwealth Financial Network and LincolnRead More →

In a rare move with huge potential impact on FINRA arbitration, a state regulator is seeking to reverse the removal of a client’s complaint from a UBS broker’s record. Harvey R. Linder’s decision last year allowing five client complaints to be expunged from financial adviser Kent Kirby’s file was theRead More →

NEW YORK, May 3, 2022 /PRNewswire/ — ALM has released a new headline, The psychology of financial planningdeveloped in partnership with the Certified Financial Planner Board of Standards, Inc. (CFP Board). The psychology of financial planning is the first title to cover the six core knowledge topics in the fieldRead More →

With compliance risk and expense increasing across wealth management, two of the largest firms have settled cases alleging thousands of reporting and record-keeping errors. Morgan Stanley and UBS Financial Services have agreed to pay a combined fine of $575,000 under respective settlements on April 25 and April 27 after FINRARead More →

For most people looking for a financial advisor in 2022, the process begins where many of the quests for answers, clarity and direction sprout in the modern world. Google. This means that long before they’ve ever had the chance to meet their prospective planner face to face – or ZoomRead More →

More than four years after the demise of an alternative mutual fund should have taught wealth managers a lesson, FINRA says some companies still haven’t learned it. The February 2018 stock plunge, later dubbed the “Volmageddonwould have wiped out more than $1 billion of client assets who invested in theRead More →

Dear Liz: While preparing my 2021 tax returns, I was dismayed to learn that my first required minimum distributions from my retirement account pushed me into the highest tax bracket of my life and caused 85% of my modest Social Security benefit to become taxable. Since retiring five years agoRead More →

Recently, on an episode of the “Orange Pill Addicts” podcast, I was talking to a financial advisor and asked him the question, “What was the role of a financial planner like before 1971?” Using the history of financial markets, legislation and advice, I examine here how, over the past 100Read More →

New Jersey, United States – The latest research report provides a comprehensive assessment of the Financial Planning Software Market for the forecast year 2022-2029, which is beneficial for companies regardless of their size and turnover. This survey report covers key market insights and industry approach to COVID-19 (Omicron) in theRead More →

The latest directives come as inflation is at its highest in decades. The annual rate of inflation in Canada hit 6.7% in March, forcing the Bank of Canada to catch up with a 50 basis point rate hike earlier this month. However, financial planning associations have advised against adjusting theRead More →

Approximately every five years, the CFP Board conducts a Practice Analysis Study – the largest research project in the United States related to the body of knowledge for financial planning. The study establishes the Core Knowledge Topics that define the content of the CFP® certification requirements. The psychology of financialRead More →

As technology continues to transform the financial services industry at breakneck speed, wealth managers are striving to not only keep pace, but to stay ahead of the pack. Future-proofing your business requires a concerted effort and a solid technology strategy designed with an eye on the future. Experts say it’sRead More →

Nobody likes a surprise letter from the IRS. But for financial advisers whose clients are audited, the inconvenience presents an opportunity. By familiarizing themselves with how the dreaded process works, wealth planners can uncover a client’s honest mistakes, questionable moves, or unrealistic assumptions about investment returns. At a minimum, holdingRead More →

For a former Fidelity executive, bitcoin in workplace pension plans evokes a very non-digital analogy: birth control. Start with the real world: a FOMO-fueled frenzy about the biggest investment trend of the 21st century, in which dozens of people are feverishly trading volatile cryptocurrencies on platforms like Coinbase. Laura Varas,Read More →

Professional military personnel performed worse than civilians on a financial literacy test, in a growing disparity between those who serve the country and the general population, according to a new survey. Officers and senior non-commissioned officers from all branches of the military received an average score of 57% on aRead More →

Keeping up with the speed of technology remains an ongoing challenge for financial and professional services organizations. As ideas or applications once deemed daunting become second nature and find their way into a company’s arsenal, new technology is emerging to shake things up, leaving decision makers questioning their ability toRead More →

We all want a well-planned and fulfilling financial life. But rising expenses and inflationary pressures tend to undermine our finances and our plans. However, that is one side of the coin. The other factor, an important factor that usually lacks attention, is your money management behavior that impacts your finances.Read More →

Federal Reserve Chairman Jerome Powell is considering more aggressive monetary policy by raising interest rates by half a percentage point at his policy meeting in two weeks, according to a sign discussion at the IMF on Thursday. He noted that many central bank officials already believed such a move wasRead More →

“College,” a financial roadmap for educating students and parents, is now available to Wailuku Federal Credit Union members. Artistic courtesy: CURevl The Wailuku Federal Credit Union now offers its members a college planning resource called Colleging, which was developed by a Texas-based credit union service organization that focuses on educationRead More →

With the stress of filing your tax return now conveniently in the rearview mirror – or launched on the road to the extension until October 17 – many people have started to worry about their chances of being audited. The numbers suggest that’s unlikely. Still, a host of pandemic-related taxRead More →

In a perfect world, advisors would buy customer relationship management, or CRM, software from one of the well-known market leaders and – voila! — all data would be imported and the result would be an almost perfect environment in which everything works like a charm. It is a pleasant fiction.Read More →

(News USA) – The interest and demand for personal financial advice has never been greater in the United States, largely due to the aging of the baby boomer generation. At the same time, the demographics of wealth in the country are changing. The purchasing power of Black and Latino communitiesRead More →

Whether you’re attending college or a career-training school, you may have difficulty obtaining a student loan if you intend to enroll in just a few courses every semester. Numerous lenders demand borrowers to be enrolled in school at least half-time. What you should know if you are a part-time studentRead More →

Kathleen Kenealy, Director of Financial Planning, invites Tim Gibson, Managing Partner at McWalter Volunteer Insurance Agency, to answer some of the most frequently asked questions about life insurance. Listen now as they explain why you should consider getting life insurance, how much cover you might need and how you canRead More →

the war in Ukraine and worsening inflation Raising fears of a recession wasted no time in JP Morgan Chase’s first-quarter earnings call with CEO Jamie Dimon to discuss the company’s substantial financial adviser hiring gains. The company’s private bank and JP Morgan Wealth Management have added more than 650 combinedRead More →

The former controller and compliance officer of a New York financial planning firm has admitted to working alongside her father to defraud clients of more than $11 million in a deception they ran for decades . Vania May Bell, 57, will be sentenced on July 7 after pleading guilty toRead More →

A wealth manager under different ownership after firing hundreds of financial advisers as part of a compliance review has settled a FINRA case alleging he misled investors. National Securities generated hundreds of thousands of dollars in commissions selling private placements managed by its RIA affiliate, National Asset Management, in DecemberRead More →

In one of the biggest recruitment moves among independent wealth managers this year, a firm overseeing 2,000 employer-sponsored pension plans has switched brokerages. Gallagher’s Retirement, Investment & Fiduciary Consulting Practices, which has more than 90 advisors and 50 support staff with listed discretionary assets under management of $6.27 billion onRead More →

Cryptocurrency has been slow to gain favor with independent financial advisors, who tend to view digital assets with skepticism. Meanwhile, as more and more people trade bitcoin and its brethren, they face some thorny tax issues this reporting season that may impact their long-term financial planning. Advisors with a “holistic”Read More →

SPONSORED CONTENT First Fed If financial freedom is a life goal for you, a financial plan is essential. A comprehensive financial plan should be reassessed periodically to incorporate life changes. You can start at any stage in life with just a few small goals and build from there. Then, reviewRead More →

By word in black Photography by RODNAE Productions/Pexels (WIB) – It’s healthy to start thinking about what to do if you’re diagnosed with Alzheimer’s disease or another dementia causing memory loss or death. Routine care costs can include diagnostic and follow-up visits, prescription drugs and, in some cases, full-time residentialRead More →

News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here. Team previously managed Approximately $350 million in client assets; Major focus on marketing with transition to independence ST. PETERSBURG, Fla.–(BUSINESS WIRE)–A Philadelphia financial planning team today announced itsRead More →

ST. PETERSBURG, Fla.–(BUSINESS WIRE)–A Philadelphia financial planning team today announced its partnership with Dynasty Financial Partners and the launch of an independent wealth management firm, Presilium Private Wealth. Presilium Private Wealth is an independent wealth management company, offering individuals simplified solutions supported by detailed financial plans. Four professionals from MerrillRead More →

(News USA) – Given the unique challenges and frequent unpredictability of a military lifestyle, financial planning is especially valuable and necessary for military families. There are several opportunities for military families to achieve their financial and savings goals, such as low-cost investments, loans, insurance, and legal protection. Applying the sameRead More →

According to a new study, millions of 403(b) plan participants across the country pay widely varying fees and choose from vastly different investment menus. Customers primarily from schools, universities, healthcare professions, religious organizations, and certain other public employees or non-profit workers pay record keeping and administration fees of between 0.0008%Read More →

Didi Gurfinkel is co-founder and CEO of DataRails, a powerful software product that helps CFOs and financial planning and analysis (FP&A) professionals meet their planning and reporting needs. Gurfinkle recently sat down with us to talk about his business and how it works. Didi, can you tell us about yourRead More →

Although most RIAs registered with the SEC will not receive a review this year, consulting practices that do get an audit will already have a full cheat sheet on hand. This is because the regulator has provided financial advisors and other wealth management professionals with its annual list of prioritiesRead More →

Financial advisors can get worn by discerning clients, especially those who have unreasonable expectations of market returns or spend too much in retirement. But mental frustration goes both ways, and when it comes to taxes, things can get dangerous. Wealthy investors are growing increasingly exhausted thinking about the Biden administration’sRead More →

Hispanic customers are an important demographic for advisors in the future. Hispanics are the demographic group most likely (26%) to say they feel “motivated” when thinking about financial planning in today’s environment, according to a survey by Lincoln Financial Group. The company’s monthly Consumer Sentiment Tracker also noted that theRead More →

While no known major cyberattack has succeeded in disrupting the US financial system Since the start of the conflict between Russia and Ukraine, US authorities and cybersecurity experts have been warning US companies, including independent consulting firms, to remain vigilant. Late last month, the White House warned that Russia mightRead More →

A financial adviser has been sentenced to 52 months in prison after admitting to spending nearly $1 million of his clients’ money on vacations, jewelry, private school tuition and other purposes personal. Naseem M. Salamah forged authorization documents disbursing more than $968,000 to bank accounts he controlled between August 2017Read More →

A consulting practice accused of fraudulently selling $40 million in variable annuities to federal employees has lost to the SEC in court and also faces an ongoing civil lawsuit in the case. Former LPL Financial registered representative Jonathan Dax Cooke and the firm he co-founded, Keystone Capital Partners, which operatedRead More →

Financial institutions are looking to the workplace as an area to grow their wealth management business and are investing in technology to tap into the market. Goldman Sachs on Tuesday announced plans to acquire NextCapital, a Chicago-based digital retirement advisory provider. Terms of the deal were not disclosed, but itRead More →

Editor’s Note: This story has been updated to reflect Sen. Joe Manchin, a Democrat from West Virginia, opposing Biden’s proposed “minimum income tax for billionaires.” Manchin’s lack of support, first reported by Bloomberg News, means the proposal to tax unrealized gains is almost certainly no longer an option, given thatRead More →

TIAA has been named the Official Retirement Financial Planning Partner of the NBA’s Charlotte Hornets. Tweet that “We are thrilled to partner with TIAA and have them as our official retirement financial planning partner,” said Hornets Sports & Entertainment. President & Vice-president Fred Whitfield. “The culture and values ​​of ourRead More →

After bolstering its recruiting team last year, Cetera Financial Group has just recruited a major team from a rival that includes two 20-year veteran financial advisers. Michael Breard and Ray Hays of Baton Rouge, Louisiana-based Hays Breard Financial Group left LPL Financial to align with Cetera Advisor Networks as aRead More →

Advyzon, one of Financial planning best fintechs to work foris the latest wealth technology company to offer outsourced investment management services. The company – which provides an all-in-one technology solution including CRM, portfolio management and reporting to approximately 1,000 financial advisors – announced the launch of Advyzon Investment Management (AIM),Read More →

To say that my career has changed since the start of the global pandemic is a huge understatement. It was spring 2020. I was a senior at Belmont University in Nashville majoring in music business. After a huge amount of work, the career I had dreamed of since I wasRead More →

About a year later to agree In one of the biggest workplace discrimination settlements of 2021, Edward Jones is facing another potential class action lawsuit involving his treatment of financial advisers. In a lawsuit filed March 9 in federal court in St. Louis, brokers Katie Dixon and Jaime Gaona accuseRead More →

Of the relationships that technology teams have with other departments in the business, the potential for improved IT-finance collaboration is probably the most underexplored. This is particularly poignant when considering how financial data can best guide business strategy. Take, for example, the ubiquitous and unassuming concept of free shipping inRead More →

Rachel Robasciotti said when she talks about diversity, equity and inclusion issues in 2022, she captures more ears than just a few years ago. Robasciotti – founder of an impact investing company Adasina Share Capital and co-creator of Due Diligence Commitment 2.0 — is one of many finance professionals whoRead More →

Houston innovators needn’t have been wary of the March Ides of this year. With all the excitement at SXSW, CERAWeek, and Houston Tech Rodeo this month, there were some titles you might have missed. In this roundup of short stories within Houston startups and tech, Houston startups announce new fundingRead More →

Company’s Proprietary Planning Platform Named Best InsurTech Solution MILWAUKEE, March 17, 2022 /PRNewswire/ — North West MutualEfforts to create the most exceptional customer experience in the financial industry are garnering industry attention and praise. Today, financial services company FORTUNE 90 announces that its proprietary financial planning platform has won “BestRead More →

The relationship between women and the wealth management industry needs repair, according to two recent studies. The surveys, conducted by UBS Global Wealth Management and BNY Mellon, highlight all the ways the sector is failing women. Among the findings of both studies, women don’t feel like the target audience forRead More →

Financial freedom is generally defined as “a state in which an individual or household has sufficient wealth to live on (maintain a predefined lifestyle) without having to depend on income from any form of employment. Over the past few decades, views on financial freedom have also changed over time. ForRead More →

A company thinks it has the answer for independent advisors to stand out in an increasingly crowded market: artificial intelligence. UX Wealth Partners provides RIAs with outsourced technology and AI-powered investment management. Its latest addition is the AI ​​Sentiment US Equities All Cap Model Portfolio, which uses an algorithm toRead More →

Intermountain Healthcare has a reputation for being an innovative healthcare system, with caregivers and IT managers always looking for ways to expand its footprint and broaden the options for patients to receive care in their preferred environment, whether virtual or in person. This mission applies to Intermountain’s hospitals, medical groups,Read More →

As wealth managers slam SEC cases as ‘regulation by execution’, one company has agreed to pay what is probably the biggest settlement to date in the series execution actions. City National Rochdale, an RIA subsidiary of City National Bank and New York-based parent RBC, will pay $30 million to settleRead More →

MUNCIE, Ind., March 10, 2022 /PRNewswire/ — Moneytree Software, LTD, an Accutech Systems Corporation company and a leading provider of cloud-based financial planning solutions, today announces the celebration of 40 years of growth and success in the financial planning industry, as well as a new summary feature within the MoneytreeRead More →

Israel’s financial planning and analysis (FP&A) platform for Excel DataRails users today announced that it has completed a $50 million Series B funding round led by Qumra Capital. New investors La Maison Partners and ClalTech, as well as existing investors Zeev Ventures, Vertex Ventures Israel, Innovation Endeavors, Vintage InvestmentRead More →

WASHINGTON, March 8, 2022 /PRNewswire/ — Certified Financial Planner Board of Standards, Inc. has released two new resources for businesses to help build their financial planning capabilities and support their professionals. The first one, From designation policy to designation strategy — A roadmap for law firms, urges companies to beRead More →

Pictured (LR): Josh Richardson, Sarah Williams, Anjeanette Kemp, Joe Sanders and Jessica Crawford An East Yorkshire Chartered Financial Planners company has been the subject of a management buyout (MBO). Eight employee shareholders of Informed Financial Planning form the buyout team, six of whom have qualified with the company. Founder andRead More →