Retirement Plan

HTK Penn Mutual employs Aaron Gordon as president

Despite business stagnation and a dwindling number of insurer-owned wealth managers, the mid-size firm is trying to catch up with its consultancy-focused rivals and start growing again. Penn Mutual Life Insurance hired veteran wealth management veteran Aaron Gordon as president of the independent dealer broker, Hornor, Townsend & Kent, following a change of leadership and …

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A Bitcoin ETF is likely to be coming soon. Is it better to just buy Bitcoin?

Wall Street companies have been eagerly launching a Bitcoin-based exchange-traded fund for almost a decade. By the time of potential success this fall, it may already be too late for the product to be of use to casual investors. Since 2013, investment firms have argued that the products will make it easier to buy bitcoin …

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Fund managers feel fierce over SEC’s repression of overgrown ESG labels

US regulators have long said they have doubts about the green and socially conscious labels Wall Street applies to $ 35 trillion in so-called sustainable assets. Now the guard dogs are looking for proof that they are right. For several months now, Securities and Exchange Commission experts have been demanding that money managers explain the …

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The very rich already have a plan to escape Biden’s tax hike

Wealthy Americans are seeking refuge from Democratic plans to raise taxes. Many on Wall Street think they found just this. A niche strategy called non-public life insurance or PPLI was already gaining popularity among the very rich because of its ability to protect fortunes from taxes. Now, some advisers in the top 0.1% say they …

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FINRA Regulatory Approval Now Needed When Suspicious Brokers Want To Hire Dishonest Brokers Who Have Defrauded Investors

Bad brokers who are too willing to look back at an advisor’s tumultuous past have a new hurdle to jump over before potentially dragging them aboard. Under new rules which began on September 1, the Financial Industry Regulatory Authority (FINRA) is forcing brokerage houses that want to hire financial advisors with incomplete data to undergo …

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What Gary Gensler really meant in his comments on the flow of orders

Market Participants may have misinterpreted comments from the chairman of the US Securities and Exchange Commission, Gary Gensler, regarding payment for order flow. Gensler told Barron’s that banning the practice is “on the table” because it generates an “inherent conflict of interest.” Shares Robinhood Markets Inc., Charles Schwab Corp. and other brokerages most reliant on …

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