Industry News
Wealth Management
Top stories summarized by our editors
4/9/2021

The Protecting the Right to Organize Act, which is awaiting Senate review, would undermine the positive features of the independent contractor model with requirements that don't benefit investors or advisors, writes Financial Services Institute President and CEO Dale Brown. FSI strongly opposes the PRO Act and will "argue for a carveout in the bill's worker classifications provisions for financial advisors," Brown writes.

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Senate
4/9/2021

Some of the tax changes proposed by the Biden administration could affect retirement and estate planning, writes Joe Elsasser of Covisum. These include estate tax exemption adjustments and additional taxation to fund Social Security.

4/9/2021

Stephen Boswell of The Oechsli Institute answers common marketing questions from financial advisors. These include whether firms should move to digital marketing and whether they should hire full-time marketing employees.

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WealthManagement
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Stephen Boswell
4/9/2021

More and more baby boomers are retiring, which means financial advisors are likely to field more questions about rollovers and such topics as Social Security, writes Jack Sharry of LifeYield. Sharry offers tips for advisors to use these conversations to show their value.

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Sharry
4/9/2021

To help your practice succeed, it's important that you ensure your clients understand why you're recommending certain services or financial products, writes Daniel C. Finley. He outlines four key steps to follow so everyone understands the "why behind the buy."

4/9/2021

Negative response letters can be used in certain situations for bulk transfers of client accounts, writes Alan Foxman managing director of Foreside Financial Group. The Financial Industry Regulatory Authority's Rule 11870 identifies which situations qualify and also lays out the process, which includes providing a 30-day notice, he writes.

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Financial Planning
4/8/2021

Renters need more support than an extended eviction moratorium, writes Institute for Portfolio Alternatives President and CEO Anthony Chereso, who urges quick government action to distribute $44 billion in rental assistance. The Census Bureau estimates almost 10 million people are behind on rent, affecting landlords, who "need rent payments to pay their staff, cover debts and expenses," and keep "this critical source of affordable housing available to working Americans," Chereso writes.

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The Hill
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CEO Anthony Chereso, Chereso
4/8/2021

Carter Multifamily has paid $26.84 million for a 244-unit apartment community in Hoover, Ala., and $31.37 million for a 264-unit apartment community in Birmingham, Ala. The company plans to add value to the properties through measures including adopting property-management best practices and upgrading the interior and the exterior.

4/8/2021

Rawhide Prairie Solar in Colorado, Greenbacker Renewable Energy's first solar-plus-storage project, has become operational, offering 22 megawatts of capacity. Meanwhile, Greenbacker has finished a portfolio of five community solar projects in rural Colorado, adding 10 megawatts of capacity.

4/8/2021

When preparing for Securities and Exchange Commission remote exams, advisors and compliance officers should make sure they have filled in Form CRS completely and correctly, says Kristin Snyder, co-deputy director of the SEC's Division of Examinations. Snyder notes many advisors are failing to adequately disclose disciplinary information on the form.

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Financial Advisor