1. Articles from AdvisorHub

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    1. College Scandal Mastermind Says He Worked with Wealth Firms

      College Scandal Mastermind Says He Worked with Wealth Firms

      Morgan Stanley and UBS are among the firms that the mastermind of the college admissions scandal used to source wealthy clients, according to his firm’s website and social network postings.

      William “Rick” Singer, who pled guilty on Tuesday to receiving about $25 million to help children of the very rich get admitted to colleges through bribes and test-cheating, said his “life coaching and college counseling” firm’s core business, The Key, hooked up with wealth management firms to find prospects.

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    2. UBS Forming Business to Service Independent Advisors

      UBS Forming Business to Service Independent Advisors

      UBS is setting up a business to sell products and services through independent advisors in the U.S., the second big traditional brokerage firm to see opportunity—or at least expedience—in servicing the burgeoning independent channel.

      Joseph P. Connellan, a managing director who joined the Swiss banking giant’s wealth arm last month after 31 years at Citigroup, is listed as head of Wealth Management USA Independent Advisor Channel in a firm directory, according to UBS sources.

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    3. Mutual Fund Outflows Surge to $56 Billion, Most Since 2008

      Mutual Fund Outflows Surge to $56 Billion, Most Since 2008

      (Bloomberg) — Investors are bailing out of mutual funds as if it were 2008.

      Mutual funds suffered redemptions of $56.2 billion in the week ended Dec. 19, the biggest outflow since the week ended Oct. 15, 2008, according to data released Wednesday by the Investment Company Institute. Even as investors were dumping mutual funds last week, they added $25.2 billion to exchange-traded funds.

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    4. Why Investors Should Stick With ‘Buy and Hold’: Barry Ritholtz

      Why Investors Should Stick With ‘Buy and Hold’: Barry Ritholtz

      (Bloomberg Opinion) — Wouldn’t it be great if you could insure your portfolio against market volatility and drawdowns for only a few pennies on the dollar?

      Critics of index investing seem to make that pitch every time markets become a little volatile. It goes like this: If you buy our product/newsletter/hedging strategy, you won’t have to suffer through a long down period via “buy and hold.” This is alluring and pushes emotional buttons.

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    5. Socially-Responsible ETFs Now Come With a Twist

      Socially-Responsible ETFs Now Come With a Twist

      (Bloomberg) — A nonprofit investment manager is starting a group of “socially responsible” exchange-traded funds that could change the face of values-based investing. Their twist: a little help from the experts themselves.

      Impact Shares Corp.’s NAACP Minority Empowerment ETF, ticker NACP, is expected to start trading Thursday on the New York Stock Exchange.

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    6. Cryptos Hide Risk for Chipmakers, Top Tech Fund Manager Warns

      Cryptos Hide Risk for Chipmakers, Top Tech Fund Manager Warns

      (Bloomberg) — The risk of a cryptocurrency selloff isn’t limited to just the virtual money.

      They pose a risk to companies delivering devices for mining them, according to a top performing tech stock fund.

      “Companies within hardware exposed to cryptocurrencies are too high priced,” Anders Tandberg-Johansen, portfolio manager at DNB ASA, said in an interview on Monday. “It’s an area where there is high risk.

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    7. Weekly Market Commentary

      Weekly Market Commentary

      The first quarter sales and earnings results being announced, so far, are simply stunning. Bespoke documented this week that 76.7% of companies are beating analyst consensus earnings estimates, which is running at the highest rate since 1999!  Furthermore, the companies that are beating analyst consensus earnings estimates have surged an average of 1.26%, while the stocks that missed have declined an average of 2.79%, for a whopping 4.05% performance difference, so clearly earnings are working!

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    8. Robo-Adviser Startups Are Now Going After Wealthy Clientele

      Robo-Adviser Startups Are Now Going After Wealthy Clientele

      (Bloomberg) — Robo-advisers were built on the promise of offering wealth management expertise to the masses. Now those startups are turning their attention to a different — and much wealthier — customer.

      Betterment LLC, the largest startup in the automated financial advisory market, said Wednesday that it’s adding a tool for some clients to adjust investment allocations in more granular ways. The service is limited to those with at least $100,000 under management by Betterment.

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    9. DOL Fiduciary Rule Appears Headed for the Supreme Court

      DOL Fiduciary Rule Appears Headed for the Supreme Court

      The Fifth Circuit Court of Appeals on Thursday overturned the Department of Labor’s fiduciary rule in a split decision that abrogates the rule’s effect in Texas, Mississippi and Louisiana.

      The decision, following a series of courtroom victories for fiduciary rule proponents, adds uncertainty about the controversial rule and opens the door to probable litigation at the highest level, the U.S. Supreme Court, according to several lawyers.

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    10. SEC Seen on Verge of Proposing a Fiduciary Rule

      SEC Seen on Verge of Proposing a Fiduciary Rule

      The Securities and Exchange Commission will likely issue a proposal in the next few months aimed at requiring brokers to apply a customer best-interest “fiduciary” standard to all brokerage accounts, according to regulators and consumer advocates.

      The timing indicates the importance that SEC Chairman Jay Clayton puts on addressing discrepancies that have arisen between regulation of individual retirement accounts and standard brokerage accounts since the Department of Labor’s fiduciary rule affecting IRAs took partial effect last summer.

      Brokers and firms offering non-retirement accounts abide by a less-rigorous suitability standard that permits them to recommend products that may pay them ...

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    11. “Disaster” Looms in Dearth of Small-Advisor Exams: Former SEC Chair

      “Disaster” Looms in Dearth of Small-Advisor Exams: Former SEC Chair

      The Securities and Exchange Commission’s inability to examine registered investment advisors is a “disaster waiting to happen,” former SEC Chair Mary Jo White warned on Friday.

      Even after bulking up resources for RIA oversight, the agency examines under 12% of small advisory firms annually. That contrasts with some 50% of broker-dealers that are vetted annually by the Financial and Industry Regulatory Authority and state regulators, through delegated authority by the SEC.

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    12. UBS Ordered to Pay Florida Broker $3 Million for Defamation

      UBS Ordered to Pay Florida Broker $3 Million for Defamation

      An arbitration panel has ordered UBS Financial Services to pay a former top producer in Florida $3 million for defamation as a result of its attempts to keep his clients after he left the company.

      The award, posted late Thursday on a Financial Industry Regulatory Authority website, is one of the largest related solely to defamation and sends a strong signal that broker-dealers “can no longer use these types of inappropriate tactics to retain clients,” said Michael Taafe, whose Sarasota law firm represented the broker.

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    1-24 of 89 1 2 3 4 »
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