Find the latest industry news below.
- Vanguard Removes Manager From $45B Fundon March 1, 2021 at 10:12 pm
Jackson Square Partners was removed as an advisor to the $45.5 billion U.S. Growth Fund and an insurance-related fund. Related StoriesMassachusetts BD to Pay $450K Over 12b-1 Fees - EnclosureFidelity Charitable Wins Lawsuit Over Stock Donation - EnclosureMerrill Ramps Up Wealth Unit as Rich Clients Flock to Florida - Enclosure
- Richest 100 Americans Would Pay $78B Under Warren Taxon March 1, 2021 at 9:56 pm
The bill stipulates that households with a net worth of over $50 million would pay a 2% yearly tax on their wealth. Related StoriesMassachusetts BD to Pay $450K Over 12b-1 Fees - EnclosureFidelity Charitable Wins Lawsuit Over Stock Donation - EnclosureMerrill Ramps Up Wealth Unit as Rich Clients Flock to Florida - Enclosure
- Massachusetts BD to Pay $450K Over 12b-1 Feeson March 1, 2021 at 9:47 pm
The BD also used its principal trading account to engage in self-dealing, the SEC says. Related StoriesFidelity Charitable Wins Lawsuit Over Stock Donation - EnclosureMerrill Ramps Up Wealth Unit as Rich Clients Flock to Florida - EnclosureHealth Insurance Veteran Questions COBRA Proposal Impact - Enclosure
- Merrill Ramps Up Wealth Unit as Rich Clients Flock to Floridaon March 1, 2021 at 9:40 pm
The wirehouse plans to add about 20 UHNW teams in the state to meet growing demand. Related StoriesFidelity Charitable Wins Lawsuit Over Stock Donation - EnclosureHealth Insurance Veteran Questions COBRA Proposal Impact - EnclosureSen. Warren Introduces Wealth Tax Bill - Enclosure
- Fidelity Charitable Wins Lawsuit Over Stock Donationon March 1, 2021 at 9:36 pm
A couple, both hedge fund managers, charged that false promises were made to induce them to contribute stock to a donor-advised fund. Related StoriesMerrill Ramps Up Wealth Unit as Rich Clients Flock to Florida - EnclosureHealth Insurance Veteran Questions COBRA Proposal Impact - EnclosureSen. Warren Introduces Wealth Tax Bill - Enclosure
- Advisors Must Go Digital or Die: Panelon March 1, 2021 at 9:07 pm
Experts from firms including Broadridge and Edward Jones explain how tech can, and must, be used to meet clients' demands. Related StoriesHealth Insurance Veteran Questions COBRA Proposal Impact - EnclosureSen. Warren Introduces Wealth Tax Bill - EnclosureInvesco Expands Multifactor ETF Suite: Portfolio Products - Enclosure
- Sen. Warren's Wealth Tax Plan Is 'Nuts': Jane Bryant Quinnon March 1, 2021 at 8:34 pm
The longtime financial journalist tells ThinkAdvisor the plan is "hopeless" and discusses other ways to tax the ultra-wealthy. Related StoriesSen. Warren Introduces Wealth Tax Bill - EnclosureMeet the Ex-Wirehouse Rep Turning the Rockefeller Family Office Into a Wealth Management Firm - EnclosureSamantha Russell: How to Leverage SEC's 'Game-Changing' New Ad Rule - Enclosure
- Gensler to Stress 'Clear Rules of the Road' at SEC Nomination Hearingon March 1, 2021 at 8:02 pm
In his prepared testimony, Gensler also says "markets — and technology — are always changing. Our rules have to change along with them." Related StoriesHealth Insurance Veteran Questions COBRA Proposal Impact - EnclosureSen. Warren Introduces Wealth Tax Bill - EnclosureInvesco Expands Multifactor ETF Suite: Portfolio Products - Enclosure
- FINRA Fines Ex-Morgan Stanley Rep Over Inaccurate Meal Expense Reportson March 1, 2021 at 7:54 pm
The advisor sued Morgan Stanley for wrongful termination. Related StoriesHealth Insurance Veteran Questions COBRA Proposal Impact - EnclosureSen. Warren Introduces Wealth Tax Bill - EnclosureInvesco Expands Multifactor ETF Suite: Portfolio Products - Enclosure
- Labor Bill Could Turn Many Insurance Producers Into Employees: NAIFAon March 1, 2021 at 4:52 pm
The group is seeking an exemption for financial professionals. Related StoriesInvesco Expands Multifactor ETF Suite: Portfolio Products - EnclosureGroup Wants Life Underwriters to Post COVID-19 Standards - EnclosureGenworth Agrees to Sell Control Over Australian Mortgage Insurer - Enclosure
- Invesco Expands Multifactor ETF Suite: Portfolio Productson March 1, 2021 at 3:49 pm
In addition, J.P. Morgan Asset Management introduced two hedged equity funds. Related StoriesGroup Wants Life Underwriters to Post COVID-19 Standards - EnclosureGenworth Agrees to Sell Control Over Australian Mortgage Insurer - EnclosureCathie Wood Still Hot on Bitcoin and Tesla Despite Big Drops - Enclosure
- DoubleLine's Other Jeffrey Has a Warning for Bond Investorson March 1, 2021 at 3:13 pm
Jeffrey Sherman, deputy CIO of Jeffrey Gundlach's DoubleLine, tells ThinkAdvisor negative returns are possible in the bond market this year. Related StoriesJoe Duran: 9 Ways to Help Clients Live Richly Instead of Dying Rich - EnclosureMeet the Ex-Wirehouse Rep Turning the Rockefeller Family Office Into a Wealth Management Firm - EnclosureSamantha Russell: How to Leverage SEC's 'Game-Changing' New Ad Rule - Enclosure
- Group Wants Life Underwriters to Post COVID-19 Standardson March 1, 2021 at 2:52 pm
The Consumer Federation of America says voluntary standards could be more flexible than regulations. Related StoriesGenworth Agrees to Sell Control Over Australian Mortgage Insurer - EnclosureCathie Wood Still Hot on Bitcoin and Tesla Despite Big Drops - EnclosurePolicygenius Names Vice President of People: Personnel Moves - Enclosure
- Warren Buffett's 9 Nuggets of Wisdom for Investors: 2021on March 1, 2021 at 2:47 pm
Berkshire Hathaway's annual shareholder letter includes words of advice — and some mea culpas. Related StoriesCathie Wood Still Hot on Bitcoin and Tesla Despite Big Drops - EnclosurePolicygenius Names Vice President of People: Personnel Moves - EnclosureBlack Investors Continue to Trail Whites in Building Wealth: Survey - Enclosure
- Genworth Agrees to Sell Control Over Australian Mortgage Insureron March 1, 2021 at 1:54 pm
The company says it's also moving ahead with a U.S. mortgage insurance unit IPO. Related StoriesCathie Wood Still Hot on Bitcoin and Tesla Despite Big Drops - EnclosurePolicygenius Names Vice President of People: Personnel Moves - EnclosureBlack Investors Continue to Trail Whites in Building Wealth: Survey - Enclosure