Wealth Management
Top stories summarized by our editors
5/25/2017

The Texas Legislature has passed a bill to protect seniors and people who are disabled from financial abuse by letting banks and securities firms temporarily hold irregular or suspicious transactions. The legislation, which awaits the governor's signature, means "we are one step closer to better protecting seniors from predators while ensuring financial-services professionals do not inadvertently violate privacy laws," FSI President and CEO Dale Brown says.

5/25/2017

Military personnel and veterans make excellent clients because they tend to be disciplined toward saving and because many have well-paid civilian jobs and extensive portfolios, veteran and certified financial planner Curt Sheldon says. However, advisors should tailor services to military members because their needs differ from those of other clients, Sheldon says.

5/25/2017

The financial-services industry is targeted more than any other by cyberattackers, and the recent wave of attacks may be the wake-up call the industry needs to upgrade its efforts against them, cybersecurity expert Stacey Robinson writes. Small- and medium-size firms are especially vulnerable, Robinson notes, but a recent survey found that a significant number of brokers fail to apply vital security patches to deter invasions.

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cyberattacks, Financial Services
5/25/2017

When you're running your own business, you must make your financial future a priority, writes Alan Auteri of Ameriprise Financial. The trick is to make saving a habit, writes Auteri, who outlines the most popular retirement-savings options for entrepreneurs.

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Ameriprise Financial
5/25/2017

Blackstone Group LP launched its first nontraded real estate investment trust in January, and by April, it had raised $755 million, almost half of the funds raised by the entire industry so far this year, says Robert A. Stanger & Co., an investment bank that specializes in nontraded REITs. "Blackstone burst out of the gate. They became number one in the space in short order," said Kevin Gannon, a managing director at Stanger.

5/25/2017

"Substantial revenue growth" was the chief highlight of the first-quarter results posted by Griffin Capital Essential Asset REIT II Inc., a publicly registered nontraded real estate investment trust, as it showed a 108% revenue increase over last year. "[W]e will continue to focus on generating net rental revenue based on tenants and guarantors with investment-grade credit ratings," said Chairman and CEO Kevin Shields.

5/25/2017

Phillips Edison Limited Partnership, the sponsor of Phillips Edison Grocery Center REIT I Inc., a publicly registered nontraded real estate investment trust, will be acquired by PECO I in a stock and cash transaction valued at $1 billion. Expected to close in the final quarter of this year, the deal will create a shopping center REIT with 230 properties.

5/25/2017

Strategic Storage Growth Trust Inc., a publicly registered nontraded real estate investment trust, posted robust first-quarter results, with increases in same-store revenues and net operating income among the highlights. "Our strong performance during the first quarter demonstrates the execution of our strategy: acquiring quality assets with good lease-up potential and delivering growth through institutional management," said SSGT Chairman and CEO H. Michael Schwartz.

5/25/2017

Private equity investor CF Corp. agreed to pay $1.84 billion for annuity provider and life insurer Fidelity & Guaranty Life in an all-cash transaction, the companies said in a statement.

5/25/2017

First-quarter sales of fixed indexed annuities declined to $12.9 billion, down 14% from the same quarter in 2016, according to Wink's Sales & Market Report. The figure was 3% lower than the total for the last quarter of 2016.

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