Trader Talk

Despite critical questions around publicly traded companies’ commitments to racial equality, some wealth and asset managers are already driving change through clients’ stock choices. After earlier sessions examining how to do so across a clients’ portfolio and through fixed-income investments, nonprofit research organization the Croatan Institute’s Racial Equity, Economics, Finance, and Sustainability program held a

From Seattle to Omaha to Bedford, New Hampshire, 10 independent financial advisory firms from small to large earned top honors in a contest for financial planning companies that give back to their communities and promote a culture of philanthropy. The Invest in Others Charitable Foundation, a nonprofit based in Andover, Massachusetts, awarded the honors to

With his Manchester United career at an end, Paul Pogba could go anywhere this summer. The World Cup-winning French midfielder won’t say whether he wants to play football in Paris, Madrid or Turin next, but he does have a plan for the future: “I will be investing in myself.” Pogba, 29, has been preparing for

Federal prosecutors have started probing Wells Fargo’s hiring procedures after a report about “fake interviews” the company held for nonwhite and female job applicants, according to The New York Times. The civil rights unit at the U.S. attorney’s office in Manhattan is spearheading a criminal investigation, the Times reported Thursday afternoon, citing two unnamed people

In June, Social Security’s trustees reported what was, on the whole, good news: that scheduled benefits would be paid until 2035 — one year later than previously estimated — at which point the payments would be cut barring congressional action.  Still, one media outlet’s headline read, “Social Security making no promises after 2035” and another,

Treasury Secretary Janet Yellen said that cryptocurrency assets are a “very risky” choice to include in the retirement plans of average savers, and that it would be reasonable for Congress to address the danger. “It’s not something that I would recommend to most people who are saving for their retirement,” Yellen said Thursday in Washington

With the pandemic putting a stop to almost all in-person interactions, advisors have embraced social media as a way to engage with current and prospective clients. While Facebook, Twitter, blogs and podcasts are helping build their brands, poor advice from FinTok and YouTube finfluencers, along with viral trends such as meme-stock investing, have presented challenges. 

“Jaws: The Revenge” “Caddyshack II”  “The Next Karate Kid”  “I Still Know What You Did Last Summer” What do these films all have in common? They are among the worst sequels in the history of cinema.  Phil HuberBTP In direct contrast to Hollywood’s lousy track record in churning out high-quality second acts, consider the world

It started with bonds. Now even collateralized debt obligations (CDOs) come in green. From the humble bank loan to a complex swap, there is virtually no corner of finance for which an ESG product hasn’t been created. Experts say investors should tread cautiously. In less than a decade, ESG — a style of lending and

Stuart DePina is relinquishing the role of Envestnet president as the company undergoes a reorganization to streamline its operations. The Chicago-based tech firm and turnkey program announced a series of organizational changes this week with the goal of growth and simplification. Going forward, the organization will restructure into three business lines: Envestnet Solutions, Envestnet Data

Despite a slightly lower projected deficit in Social Security and another comprehensive proposal to ensure the program’s solvency, lawmakers haven’t moved any closer toward doing so. In a Senate Budget Committee hearing on June 9 timed for the introduction of Sen. Bernie Sanders’ Social Security Expansion Act, the democratic socialist from Vermont who votes with

Regions Financial is aiming to bring personalized financial planning online to younger customers who are just starting to invest. Under a new advisory service that mixes automation and personal interaction, Regions customers need just $5,000 to open an account. They will choose from five portfolio strategies based on their risk tolerance and the timespan of

The racist massacre last month in Buffalo is spurring reflection in the industry about its particular connection to wealth — even as more mass shootings highlight the magnitude of America’s problem with gun violence. Nine Black grocery shoppers and a security guard from the city’s East Side died on May 14 in an attack that

Wall Street’s top regulator previewed a set of sweeping changes to rules underpinning the U.S. stock market, setting up a major clash with some of the biggest names in equity trading. Securities and Exchange Commission Chair Gary Gensler said he’s asked the agency’s staff to weigh the moves with the aim of making the $45

In this article NDAQ ICE CME SCHW HOOD Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), listens during a Financial Stability Oversight Council (FSOC) meeting at the U.S. Treasury in Washington, D.C., U.S., on Monday, Dec. 9, 2013. Andrew Harrer | Bloomberg | Getty Images We are live on Wednesday at Piper Sandler’s

Three former Chase branch-based financial advisors won a full rejection of the company’s FINRA arbitration claim seeking more than $3 million several years after they left the firm. J.P. Morgan Securities’ allegations that Barry A. Krumwiede, Bryan L. Schneider and Christopher J. Bowman breached their employment agreements by soliciting the firm’s clients were “denied in

With ESG increasingly maligned these days from both the inside and the outside, some of the industry’s early devotees say it’s time for a course correction. Jerome Dodson, the retired founder of one of the world’s largest ESG-focused investing firms, said a dedicated watchdog is needed to help police marketing claims. Marcela Pinilla, who’s worked

Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), at the SEC headquarters office in Washington, D.C., U.S., on Thursday, July 22, 2021. Melissa Lyttle | Bloomberg | Getty Images SEC Chair Gary Gensler is trying to make good on his promise to address what he believes are deficiencies in the U.S. trading

A leading provider of wealthtech solutions and an internship program that supports aspiring Black and Latinx advisors are joining forces to give the next generation of underrepresented planners access to pro tools at no cost. This week, participants in the BLX Internship Program gained access to eMoney Advisor software as a result of the new

Merrill Lynch has settled the third different FINRA case in the past eight years alleging that its clients paid unneccessarily high fees on their mutual funds. The wirehouse agreed to pay $15.2 million in restitution and interest to thousands of clients affected by a glitch in its automated system that mistakenly left them invested in

Every now and again, the market gods give advisors a mulligan — the opportunity to correct a mistake on behalf of their clients. We believe this is one of those times, but that there’s a short window in which to act upon it.  Interest rates have been steadily rising for over a year, reversing a

As innovation in the financial services industry continues to transform the business, so grows the need to keep up with the speed of tech to avoid being cut by the bleeding edge.  Knowing what’s new and what’s next in wealthtech is top of mind as the combination of a global pandemic, increasingly sophisticated technology and

The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies. Of particular concern are recent requirements from the 2021 infrastructure bill pertaining to crypto. The bipartisan infrastructure law passed by Congress last November requires crypto brokers to report their gains on a

A new social media study suggests that financial professionals looking to forge deeper digital connections with prospects need to open up and share the knowledge.  Hearsay Systems has released its 2022 Social Selling Content Study, continuing its annual analysis of the social media activities of more than 200,000 advisors and agents from 100 global financial

Less than two weeks removed from making its stateside debut, Australian fintech Lumiant is celebrating the next step of its U.S. expansion with a major investment from one of the nation’s top billion dollar wealth magnets. Lumiant has secured a $3 million investment from Savant Wealth Management, the Rockford, Illinois-based RIA with more than $13.5

What’s new in financial technology is top of mind among senior wealth management leaders and decision-makers from across the industry making the trip to Financial Planning’s annual INVEST conference on June 16 at the Hilton Midtown in New York City. From the latest developments in wealthtech and cryptocurrency education to holistic planning, sustainability and other

On Feb. 16, Financial Planning published a story regarding a settlement between the SEC and CMG Capital Management Group of Malvern, Pennsylvania relating to CMG’s use of data involving the hypothetical backtested performance of one of its algorithmic investment trading strategies.  CMG agreed to the settlement, neither admitting nor denying the allegations. The story contained

With stocks, bonds and crypto struggling these days, wealth managers searching for the next investment opportunity with attractive returns may look to an unlikely alternative — student loans.  Yrefy, founded in 2017, is putting together its fourth investment portfolio of refinanced distressed private student loans that are being converted into income streams for accredited investors,

A mutual fund’s returns represent just one factor out of many considered by financial advisors when making recommendations. That’s the consensus of a half dozen advisors who responded to questions that Financial Planning sent to members of the Financial Planning Association and the XY Planning Network about how they weigh performance against cost and what

When naive investors make rash or foolish decisions, it’s time to fight fire with fire. That’s the new approach the SEC is taking to educate people who buy and sell risky stocks frequently or on a whim, often on apps like Robinhood Markets. The digital retail brokerage, an object of scrutiny for its game-like look