Wealth Management
Top stories summarized by our editors
3/27/2020

The Securities and Exchange Commission announced it will further extend the deadlines for filing Form ADV by advisors and Form PF by private fund advisors in light of the coronavirus pandemic. The new filing date is June 30.

3/27/2020

In addition to threatening their health, the coronavirus outbreak poses a threat to seniors' finances, as social isolation can make them more prone to falling for scams or making bad decisions, experts say. They suggest older adults work with trusted friends or relatives to make a road map for their finances and establish a plan to transfer management of them if necessary.

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Forbes
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Social isolation
3/27/2020

Although the global impact of the coronavirus is unprecedented, there are some simple ways you can manage the emotional roller coaster for your clients and for yourself, writes Mike Byrnes, owner of Byrnes Consulting, LLC and a member of FPA's Coaches Corner. Byrnes offers three tips you can use while working with clients during the outbreak, in addition to using FPA's online resource guide.

3/27/2020

The coronavirus pandemic and market downturn have created fear among investors, leading some to want to make rash financial decisions, write Andrew Crowell and James Ragan of D.A. Davidson. Advisers must encourage clients to limit their news intake, assess their financial plans and make adjustments or improvements, they write.

3/26/2020

The Senate has voted 96-0 to pass a $2.2 trillion stimulus package to aid industries, small businesses and workers affected by the coronavirus pandemic. The House is scheduled to act on the bill Friday.

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Senate
3/26/2020

US Customs and Border Protection has notified businesses it will allow delayed payment of import tariffs on a case-by-case basis. Business groups and industries heavily dependent on imports want the Trump administration to terminate or suspend enforcement of major tariffs.

3/26/2020

The coronavirus stimulus bill passed by the Senate would suspend rules for required minimum distributions that apply to defined-contribution retirement plans and IRAs. "Waiving 2020 RMDs will help lots of people avoid a tax bill on IRA value that has vanished," IRA expert Ed Slott says.

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Senate
3/26/2020

The Securities and Exchange Commission is considering postponing enforcement of Regulation Best Interest, says Pete Driscoll, director of compliance inspections and examinations. The rule has a compliance date of June 30.

3/26/2020

Alternative Investment Management Association chief executive Jack Inglis says claims that hedge funds are disrupting markets by short selling stock are "absurd". "As a small part of the investment funds industry, hedge funds cannot and should not be held responsible for market declines – there is clear evidence that much larger traditional funds are heavily selling stocks, with short sales just a small part of overall market activity," he said.

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Citywire
3/26/2020

The coronavirus crisis has seen alternative investment funds become more selective about their deal-making activities, although managers say some deals are still going through. Managers are more likely to complete deals that were near to closing before the pandemic struck and place on hold those in sectors most affected by the outbreak.

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Julie Segal