Practice

The market for retirement income products is expanding, according to a new report from Financial Research Corp., “Cracking the Code to Retirement Income: Key Developments and Opportunities.”

Independent financial advisers are warning the Securities and Exchange Commission that the Municipal Securities Rulemaking Board’s proposed changes to Rule G-23 contain loopholes that would allow dealer-financial advisers to switch roles and become underwriters in the same muni transactions.

FDIC chairman Sheila Bair received not one but two standing ovations from the ICBA, a week after she was heckled by members of the industry's other main trade group.

New advisor hires from Bank of America Merrill Lynch this month are part of the firm’s national expansion plans.New advisor hires from Bank of America Merrill Lynch this month are part of the firm’s national expansion plans.

The new offering will integrate absolute return funds that seek positive returns over a three-year period with less volatility than traditional asset classes.

Putnam Investments by midyear is planning to roll out three retirement income funds specifically designed for defined contribution plans, IRAs and other retirement accounts. The funds will be offered in conjunction with a planning tool to help both advisers and investors create a range of personalized income strategies.

The new Naples, Fla.-based advisors join HighTower after the firm added four BofA Merrill Lynch advisors in Portland, Maine.

A federal judge in Dallas ruled against a $21 million settlement between Securities America and class action plaintiffs.

Alternative investment funds which need to register with the Securities and Exchange Commission for the first ttime will find it a costly process, according to research firm Aite Group.

More investigation as to how a uniform fiduciary standard would affect consumers and the market is needed, a group of House lawmakers said in a letter to the SEC.