Articles for Financial Advisers

Trump advisers seek to shrink or eliminate bank regulators
1 week, 5 days ago

Trump advisers seek to shrink or eliminate bank regulators

Live Mint  

The Trump transition team has started to explore pathways to dramatically shrink, consolidate or even eliminate the top bank watchdogs in Washington. In recent interviews with potential nominees to lead bank regulatory agencies, Trump advisers and officials from his newfound Department of Government Efficiency have, for example, asked whether the president-elect could abolish the Federal Deposit Insurance Corp., people familiar …

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How Morgan Stanley courted dodgy customers to build a wealth-management empire
4 weeks, 1 day ago

How Morgan Stanley courted dodgy customers to build a wealth-management empire

Live Mint  

Morgan Stanley discovered last year that a yearslong brokerage customer had been convicted in 2005 in a U.S. court—for lying about terrorism investigations—and had links to al Qaeda bombings of U.S. embassies. The accounts are spread across Morgan Stanley’s empire of financial advisers who manage money for wealthy people and its E*Trade digital trading platform. The 2023 document showed that …

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43 members of Congress violated stock law
2 months, 3 weeks ago

43 members of Congress violated stock law

Raw Story  

At least 62 members of 118th Congress have violated a federal insider trading and conflicts-of-interest law, a Raw Story analysis of congressional financial disclosures reveals. Raw Story reported in June that Allen was late in disclosing his spouse’s March 27 sale — valued between $100,001 to $250,000 — of stock in SouthState Corporation, a financial services company. "Sen. Hagerty did …

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Merrill Lynch agrees to pay nearly $20 million to settle class action racial discrimination lawsuit
6 months, 3 weeks ago

Merrill Lynch agrees to pay nearly $20 million to settle class action racial discrimination lawsuit

Associated Press  

NEW YORK — Merrill Lynch has agreed to pay nearly $20 million to settle a class-action lawsuit that accuses the Wall Street brokerage giant of racially discriminating against its Black financial advisers. According to a May 24 motion for settlement, Merrill has agreed to pay $19.95 million — which, beyond attorney fees and administration costs, is set to compensate class …

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Hot New Bitcoin Funds Are Still Waiting for Buy-In from Financial Advisers
9 months, 1 week ago

Hot New Bitcoin Funds Are Still Waiting for Buy-In from Financial Advisers

Live Mint  

Bitcoin exchange-traded funds have drawn billions of dollars from investors since they launched in January, but their target market—financial advisers who oversee trillions in client assets—has remained largely out of reach. Fans of the world’s largest cryptocurrency had hoped that the bitcoin funds would open the floodgates to a wave of new buyers, specifically U.S. financial advisers who collectively oversee …

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Lawmakers, law breakers: 37 members of Congress have violated a conflicts-of-interest law
1 year ago

Lawmakers, law breakers: 37 members of Congress have violated a conflicts-of-interest law

Raw Story  

Since Jan. 1, at least 37 members of Congress have violated a federal insider trading and conflicts-of-interest law, a Raw Story analysis of congressional financial disclosures reveals. Raw Story reported in June that Allen was late in disclosing his spouse’s March 27 sale — valued between $100,001 to $250,000 — of stock in SouthState Corporation, a financial services company. “Senator …

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Australians need good financial advice more than ever to pay for soaring interest rates. Here's how to get it
1 year, 10 months ago

Australians need good financial advice more than ever to pay for soaring interest rates. Here's how to get it

ABC  

Hundreds of thousands of us who took out fixed-rate mortgages in 2020 and 2021 are about to be hit with massive increases in payments. For years, I argued we should make financial advice perfect: delivered by genuinely professional advisers, who weren't receiving kickbacks from firms wanting access to our money. It's now illegal for financial advisers to accept commissions and …

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Before Your Parents Retire, Make Sure You Ask About These 6 Things
1 year, 11 months ago

Before Your Parents Retire, Make Sure You Ask About These 6 Things

Huff Post  

Phiromya Intawongpan via Getty Images Don't assume you know what your parents are thinking. These talks can only work if adult children are collaborators with their parents instead of bossy, said Nancy K. Schlossberg, a retired professor of counseling psychology and the author of “Retire Smart, Retire Happy: Finding Your True Path in Life.” “Older people don’t want their sovereignty …

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Do you know your financial advisor may have some skeletons in the closet?
2 years, 1 month ago

Do you know your financial advisor may have some skeletons in the closet?

Live Mint  

Stocks and bonds crumbled again this week, and inflation seems unstoppable. Vantage’s latest brochure, filed on March 31, says the firm must “disclose any legal or disciplinary events that are material to a client’s or prospective client’s evaluation of our advisory business or the integrity of our management.” The document adds, reassuringly, that Vantage and its management “have no reportable …

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Dilip Cherian | Fiscal advisers may get to have a larger say in ministry spends
2 years, 6 months ago

Dilip Cherian | Fiscal advisers may get to have a larger say in ministry spends

Deccan Chronicle  

Looking at the future, the Modi Sarkar wants to show that it is capable of fresh thinking. It may well lead to financial advisers having a larger say in the expenditure roadmap of ministries with possibly more authority to enable better internal governance. Mr Singh, who is a member of the Union Cabinet, has not been nominated for the Rajya …

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