(L-R) Ninety-four-year-old activist and retired educator Opal Lee, known as the Grandmother of Juneteenth, speaks with U.S. President Joe Biden after he signed the Juneteenth National Independence Day Act into law in the East Room of the White House on June 17, 2021 in Washington, DC. Drew Angerer | Getty Images The scene at the […]
Archives for June 2021
Former U.S. Army Captain urges Biden to evacuate Afghan interpreters before troop withdrawal ends
An Afghan interpreter saved Matthew Zeller’s life when he served in Afghanistan as an Army Captain — now Zeller is urging President Joe Biden to move quickly and help remove the interpreters and their families from Afghanistan before they’re killed by the Taliban. “Crimes against humanity will be committed, and they’ll be broadcast live for […]
ProEquities to rebrand as insurer merges ‘siloed’ firms
A midsize wealth manager owned by the U.S. subsidiary of a giant global insurer is folding into a rebranded entity combining business lines with the goal of boosting its advisory clients. Effective July 19, independent broker-dealer ProEquities will become Concourse Financial Group Securities, forming a single firm that will also include fellow Protective Life subsidiaries […]
JPMorgan buys digital wealth firm Nutmeg for U.K. expansion
PMorgan Chase agreed to buy U.K. digital wealth manager Nutmeg Saving and Investment as it seeks to expand its mobile banking service for retail investors in the country. Nutmeg has more than 140,000 customers and manages over 3.5 billion pounds ($4.9 billion) of assets, according to a statement from the U.S. bank Thursday. JPMorgan’s digital […]
Weekend Reading for Financial Planners (June 19-20)
Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the big industry news that now Goldman Sachs has officially thrown its hat into the RIA custody ring as well, announcing a significant new relationship with mega-RIA Stewardship Partners, and positioning itself to compete especially for […]
Addepar, Commonwealth, Steward Partners, Advisor Group, Prudential, Cetera, LPL Financial, Raymond James, NASAA: News and moves
Commonwealth Financial Network launched a new committee for advisors, Women of Commonwealth, and hired a breakaway advisor from Merrill Lynch; Wealth Enhancement Group bought a Maryland team with $446 million in client assets; and NASAA released guidance on CE credits. Scroll down for more quick takes and people news from the week in financial advice.
Coming together to advance Black CPAs
Three leaders of the Black CPA Centennial’s organizing partners — whose everyday missions support and promote the advancement of Black CPAs — offer insights on the main barriers Black professionals face, the roles their organizations play in helping overcome those barriers, and what the CPA profession can do collectively to progress in achieving diversity, equity, and […]
Editor’s Column: Is buying Nutmeg a nutty decision?
Has someone at JP Morgan gone a bit hazelnut, I thought? Why buy a loss-making business that on most accounts has under-performed since it was launched nearly 10 years ago? And why buy into a sector, the robo-advice market, that most have already written off as failing to get off the launchpad. On reflection, however, […]
Morningstar and Dimensional launch automated managed accounts service for retirement planning
Morningstar Investment Management and asset manager Dimensional Fund Advisors are launching an automated managed accounts service for financial advisors and RIAs, to bring customizable planning and investment advice to clients in retirement plans. The platform expands the Morningstar Retirement Manager user interface to bring clients with smaller account sizes “high-quality, personalized advice at scale, just […]
7 Fast Facts to Make Giving Charitable Donations a Smooth Process
Do you enjoy contributing to your favorite nonprofit organizations? If your business makes charitable donations, you’re automatically eligible for the joy of giving. And, you may qualify for a tax deduction. Knowing the ins and outs of small business charitable donations can help you better prepare for tax season. Read on to learn how to […]