The Investment Company Institute of Washington, D.C., has suggested changes in an SEC rule proposal governing how mutual funds oversee their securities held in foreign countries. The ICI said it was troubled by language in the proposed amendment to rule 17f-5 of the Investment Company Act and a proposed new rule 17f-7. Together, the rule proposals, which require a fund's global custodian to monitor the risk of using sub-custodians in foreign countries under certain circumstances, could effectively prohibit funds from investing in some countries, the ICI said. The SEC should adopt language in the rule making it clear that funds could use a foreign sub-custodian, despite risks associated with the firm, the ICI said in a letter dated July 15 to the SEC.
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August is National Make a Will Month, but advisors say it's important to urge clients year-round to secure their wishes by keeping wills and estate plans fresh.
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Women are projected to receive more than $100 trillion in the so-called great wealth transfer. But their planning needs can differ from men's.
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Web designer Bonfire Studio asked ChatGPT for advisor recommendations in five metro markets. The results give advisors more reason to tend to their online presence.
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With trillions on the table, advisors who know how to start conversations with clients' heirs risk losing far less than those who don't.
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Retirement savers often don't realize what they're paying in fees or how much they can lose by leaving rollover cash uninvested, but advisors can help on both fronts.
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A succession merger deal that was nearly 10 years in the making at Nebraska-based Prairie Wealth Advisors offers a lens into the many factors involved with the wealth management industry's looming financial advisor retirements.
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