Wealth Management
Top stories summarized by our editors
5/22/2017

A Putnam Investments survey of more than 1,000 financial advisors has found 85% used social media as part of their business strategy in 2016, compared with 75% in 2014, while 80% of respondents report successful client acquisition via social media. Concern about regulatory compliance is the main reason cited for not using social media.

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Financial Advisor IQ
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social media, Putnam Investments
5/22/2017

Advisors were challenged at a conference to use texting more to sustain and further client relationships. However, they were cautioned texting must comply with regulation.

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text messaging
5/22/2017

Jackson National Life Insurance's sales hit $647 million in the first quarter, up more than 37% from the same quarter last year. The company, a major provider of annuities in the US, said it expects the Labor Department's new fiduciary rule to play to its advantage, making it easier for Jackson National to sell variable annuities through advisors.

5/22/2017

The Labor Department's new fiduciary rule is expected to prompt the creation of new lower-cost share classes and put pressure on financial firms to cut fees, industry experts say.

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Labor Department
5/22/2017

The plethora of digital tools available to advisors offers many choices, but selecting the ones that best fit your business can be a challenge. James Capps, chief technology officer at Trust Company of America, offers 10 tips to help advisors purchase the right technology for their firm.

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WealthManagement
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Trust Company of America
5/22/2017

Korea Exchange will introduce a website next month that serves as a resource for short-selling information, with a beta version launching today. "Investors' attention to short-selling is high, but they have suffered limited access to short-selling-related information," according to the exchange.

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Korea Exchange
5/22/2017

The Preqin All-Strategies Hedge Fund index shows April was the sixth straight month of gains, with only macrostrategies experiencing a decline. Emerging markets are leading the upturn, rising 6.6% this year and having record-high assets under management of $205.8 million, per Hedge Fund Research.

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Hedge Fund Research
5/22/2017

The European Commission is scheduled June 7 to outline an action plan for a revised capital-markets union as the UK prepares for Brexit. Among expected changes is streamlined passporting for cross-border fund selling because "we can no longer count on liquidity pools in London," EU official Ugo Bassi says.

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Reuters
5/22/2017

The possible ramifications of Brexit on UK investment managers would affect income from European retail and alternative investment funds, as well as segregated accounts, lawyer Peter Astleford writes. The time frame for Brexit negotiations likely is inadequate and could lead to a yearslong transition, he writes.

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Brexit, Brexit
5/22/2017

Austrian Finance Minister Hans Joerg Schelling says agreement on an EU-wide financial-transaction tax is closer to reality as countries increasingly commit to or review the levy. German Finance Minister Wolfgang Schaeuble, however, says he does not expect agreement soon.

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Reuters