Practice

Former UBS AG executive Peter Ghavami was sentenced to 18 months in prison for rigging what should have been competitive bids to handle municipal-bond investment deals.

As Roth 401(k) plans continue to spread, young workers increasingly are voting to go Roth. In the first quarter of 2013, 10% of all participants in Wells Fargo-administered defined contribution plans contributed to a Roth 401(k), when available, up from 8.9% a year earlier. Leading the way were employees under age 30: 16.9% chose the Roth route, a jump from 15.2% participation in last year’s first quarter. (Only 4% of participants in their 60s chose the Roth version this year.)

With minimal impact on current tax rates and the potential for tax-free withdrawals as they age, Roth 401(k) plans are catching on with the young and not-at-all-wealthy.

Often advisors don't have the time to motivate, hold accountable, and help junior advisors with their time management and goals. Here are the biggest struggles junior advisors face and the things these associates wish they could tell their bosses.

Deciding which tasks to outsource can be difficult for advisors. Dave Grant identifies projects that have turned out to be great candidates for a handoff.

Specific rules govern how a 401(k) beneficiary designation is changed, and an advisor’s failure to help a client comply fully could send his or her hard-earned money to unintended recipients.

A Texas man has been accused by regulators of running a Ponzi scheme involving the digital currency Bitcoin. The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012.

Ameriprise Financial has hired three financial advisors from UBS, Raymond James Morgan Keegan, and HSBC.

Ex-UBS AG Managing Director Peter Ghavami and two former colleagues convicted of rigging municipal bond investment deals may be sentenced to less prison time than the government is seeking, a federal judge said.

Among the very wealthy, family foundations long have been a common vehicle for charitable giving. However, more families than ever are skipping foundations altogether in favor of simpler and cheaper donor-advised funds.