Find the latest industry news below.
- This Is No 2008on March 20, 2023 at 7:53 pm
The current banking turmoil is quite different from the 2008 financial crisis, Bob Doll and others say. Related StoriesJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBuilding Retirement Income Requires More Than Monte Carlo Wizardry - EnclosureHere's the Salary Needed to Live in the 12 Most Expensive U.S. Metro Areas - Enclosure
- House Plans First Hearing on SVB, Signature Bank Failureson March 20, 2023 at 7:40 pm
Reps. McHenry and Waters also told GAO Monday to begin an "immediate" investigation into the banks' collapse. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- What UBS' Credit Suisse Deal Means for Advisor Recruitingon March 20, 2023 at 7:24 pm
The acquisition is expected to create a business with over $5 trillion in total invested assets. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- Biden Vetoes Anti-ESG Billon March 20, 2023 at 6:47 pm
The bill would have thwarted a rule allowing retirement portfolio managers to weigh climate change and other ESG issues. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- Jamie Hopkins: SVB Collapse Is Wake-Up Call on Cash Managementon March 20, 2023 at 6:44 pm
Where should clients park their cash, and how much cash is too much? Related StoriesMore Advisors Breaking Away to Serve Retirees: CEO - EnclosureGood Advisors Can't Ignore the Inequities Following Women Into Retirement - EnclosureBeware the Medicare Surcharge When Crafting Retirement Income Plans - Enclosure
- CFP Board Launches New Awareness Campaignon March 20, 2023 at 4:54 pm
The $12 million "It's Gotta Be a CFP" campaign targets financial decision makers aged 35 to 64. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- Bank Stress Signals Bear Market End: Morgan Stanley Strategiston March 20, 2023 at 4:24 pm
"The last part of the bear can be vicious and highly correlated," Michael Wilson said, with prices poised to fall sharply. Related StoriesJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureS&P 500 Close to Wiping Out 2023 Gains - EnclosureUBS to Buy Credit Suisse in $2B Deal - Enclosure
- First Republic Slides Even as Regional Bank Stocks Reboundon March 20, 2023 at 3:33 pm
Bank stocks "are more inexpensive today than they were during the pandemic," said Baird analyst David George. Related StoriesJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureUBS to Buy Credit Suisse in $2B Deal - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- El-Erian, Yardeni & Gundlach on Bank Turmoil, Market Impacton March 20, 2023 at 3:17 pm
"We aren't raising our recession odds just yet, but we may have to do so," said Ed Yardeni of Yardeni Research. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- 5 Tax Planning Strategies for Clients Who Own a Small Businesson March 20, 2023 at 5:26 am
Here are five strategies to share with your small-business clients that may help them lower their tax burden and keep more money in their pockets. Related Stories5 Advisors Warn: Don't Dabble in 401(k) Plans! - EnclosureJamie Hopkins: SVB Collapse Is Wake-Up Call on Cash Management - EnclosureMore Advisors Breaking Away to Serve Retirees: CEO - Enclosure
- Ed Slott: New IRS Guidance Clarifies 2023 RMDson March 20, 2023 at 5:18 am
Warn clients who turn 72 this year that they might get an incorrect RMD notice, Slott advises. Related StoriesUBS to Buy Credit Suisse in $2B Deal - EnclosureJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - Enclosure
- UBS to Buy Credit Suisse in $3.3B Dealon March 19, 2023 at 7:44 pm
The deal includes a price per share that is nearly 100% lower than Credit Suisse's peak stock price in 2007. Related StoriesJeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chair - EnclosureBiden Seeks Tougher Penalties on Executives of Failed Banks - EnclosureNASAA Lowers Passing Score for Series 65 Exam - Enclosure
- What If the Index in an Indexed Annuity Goes Away?on March 17, 2023 at 10:38 pm
A lawyer says standard contracts include provisions for index changes. Related StoriesRising Rates Push Sales of Individual Deferred Annuities Higher: Wink - EnclosureHow Sallie Krawcheck's Ellevest Is Investing in Women - EnclosureChatGPT Use Will Become an Industry Trend: Brian McLaughlin - Enclosure
- Social Security COLA Below 3% Looks Likely for 2024on March 17, 2023 at 9:40 pm
A 0% COLA is possible if inflation continues to ease, says Mary Johnson of The Senior Citizens League. Related StoriesBuilding Retirement Income Requires More Than Monte Carlo Wizardry - EnclosureHere's the Salary Needed to Live in the 12 Most Expensive U.S. Metro Areas - EnclosureSo Your Clients Want to Invest in AI? Here's What to Know - Enclosure
- Jeremy Siegel: SVB Collapse Will 'Knock Some Sense' Into Fed Chairon March 17, 2023 at 9:20 pm
"I don't think this market's going down much further," the economist said. Related StoriesHigher Rates Buoy Retirees and Pensions Alike, but for How Long? - EnclosureInvestors Contemplate Rates Reaching 6% - EnclosureSiegel: Strong Economic Data 'Really Changed the Picture' - Enclosure