Latest news with #RegBI
Yahoo
27-04-2025
- Business
- Yahoo
If a financial adviser wants to roll over your retirement savings, watch out
If you ask 10 financial advisers how and where you should invest your tax-advantaged retirement savings, you may get 10 different answers. There are many options and it's not easy to know which one makes the most sense. The challenge grows if you're retired or nearing retirement. You may have accumulated a large nest egg, and advisers may recommend rolling over that pile of money into a different type of account. What a plunge in shipping traffic from China says about tariffs, stocks and the economy 'An argument ensued': My mother entrusted my inheritance to her second husband. That's when it all went horribly wrong. A cruel summer looms, but here's why JPMorgan still expects a higher S&P 500 finish this year 10 'pure value' stocks favored by analysts to soar 20% to 96% over the next year I held power of attorney for my late brother. Can I withdraw money from his bank account to give to his favorite charity? But rollovers can backfire. The stakes are high, given that a rollover is among the biggest, most consequential financial decisions you could make. The Financial Industry Regulatory Authority, or Finra, is increasing its scrutiny of advisers' rollover recommendations, especially those targeting retirees and seniors. When rolling over their retirement savings, older investors might unknowingly find themselves in worse shape than if they did nothing. The good news: Broker-dealers and registered representatives must follow Regulation Best Interest (Reg BI) when making rollover recommendations to clients. That means their recommendations must meet a standard of care in which they act in the client's best interest. Despite this regulation and Finra's oversight, risks remain. You may not realize that by agreeing to roll over funds (from, say, a 401(k), IRA or similar plan) into a different account, you can get hit with hidden fees, tax penalties, loss of investment options and other protections. 'Investors need to determine the total cost of a proposed rollover before they go ahead with it,' said Craig Ferrantino, a financial adviser in Melville, N.Y. Read: 'I really do not need the funds.' I'm 72 and facing RMDs in mere months, but I don't need the money or want the taxes. What's my move? List all the fees and expenses and compare it to your current plan's cost. Confirm the proposed rollover would not trigger any tax liability or penalties. The adviser's recommendations should include printed content that, in simple language and easy-to-understand graphs and tables, lets you compare the features, benefits, costs and tax consequences of various accounts and rollover scenarios. You may want to take the printed proposal and seek counsel from your accountant, attorney and others whom you trust. Consider how the adviser gets paid. Many of them charge an assets-under-management fee, typically around 1%. Read: 14 financial pros reveal the No. 1 money concern their clients are facing now If you're urged to transfer all of your assets (including your retirement funds) to their firm, calculate the total cost. Beyond paying their fee, ask about the expense ratio of the underlying investment products they recommend (which covers the funds' operating expenses, marketing, record keeping, etc.). Some advisers favor certain types of products or custodians, so make sure you understand the rationale for their rollover recommendation. They may funnel clients' retirement funds into one financial institution and get rewarded for their volume of business with that firm. Ask about the pros and cons of a range of different rollover strategies before you make a decision. And inquire about their motives. 'You should ask, 'Are there any sales incentives you get by recommending this?' and 'Do you have any conflict of interest in selling me this product?'' Ferrantino said. Fred Reish, an attorney and partner at Faegre Drinker, a Los Angeles-based law firm, advises retirement-plan participants to ask their financial adviser the following questions before authorizing a rollover: 'If the adviser doesn't give clear and comprehensible answers to these questions, that's a red flag,' Reish said. For example, plan fiduciaries have an ongoing duty to monitor the plan's investments, so the answer to the first question should be a straightforward 'yes.' He adds that when comparing the total cost of the proposed rollover with your current plan, treat even slightly higher-percentage fees as significant. 'If the total cost of the proposal, which should include the adviser's compensation, is much higher than your existing plan's cost, make sure there are additional services that justify the difference,' he said. 'Remember that an amount that seems small, say 0.5% or 1%, can add up to a lot of money over time.' More: 'I'm literally afraid to look at my balance': I have $300K in a 2025 target-date fund. Is there a chance it will recover? Also read: Are tariffs worth the risk to our retirement — and overall — economic security? 'I am suspicious': My father died, leaving me $250,000. My brother says it's all gone. What can I do? 'The whole thing feels predatory': My grandma, 97, pays $170 a month for a $10,000 life-insurance policy. Should we stop payments? My dying cousin supposedly 'fell in love' with his hospice nurse. She inherited his entire estate. How can this happen? My husband will inherit $180K. I think we should invest the money. He wants to pay off his $168K mortgage. Who's right? 'She acted as a mother to me growing up': My stepmother remarried after my father died. How can I claim my inheritance? Sign in to access your portfolio
Associated Press
16-04-2025
- Business
- Associated Press
InvestorCOM Launches the New RolloverAnalyzer to Enhance Compliance and Drive Rollover Asset Growth
Delivers expanded capabilities that empower advisors to efficiently assess, document, and support rollover recommendations with greater accuracy and confidence. 'We now have over 30,000 satisfied users on our platform, and these new capabilities will further increase the value we deliver to our partners.'— David Reeve, CEO, InvestorCOM BRANTFORD, ONTARIO, CANADA, April 16, 2025 / / -- InvestorCOM, a leading provider of regulatory compliance software for wealth and asset managers, is proud to announce the release of the New RolloverAnalyzer ™, the next-generation solution designed to help financial professionals meet the regulatory requirements of Regulation Best Interest (Reg BI) and PTE 2020-02 while enhancing the efficiency and growth of rollover transactions. Building on the success of its predecessor, the New RolloverAnalyzer delivers expanded capabilities that empower advisors to efficiently assess, document, and support rollover recommendations with greater accuracy and confidence. With over 30,000 users on InvestorCOM's compliance platform, the latest enhancements to the new RolloverAnalyzer will enable advisors to maximize this opportunity while ensuring full compliance with regulatory requirements. Key Enhancements of the New RolloverAnalyzer: - Enhanced UI, Customization and Analysis: A refined advisor experience for rollovers based on a Best Interest score driven by customizable service, fit, and plan cost criteria. Bringing clarity, consistency, and efficiency to rollover recommendations. Intelligent Automation: Streamlined documentation and oversight to reduce compliance burden while improving efficiency. - Facilitating Growth Through Consolidating Accounts: Advisors can now create a rollover from multiple sources, enabling a more efficient and scalable approach to rollover asset growth. - Compliance via Documentation and Dashboards: Built-in compliance features provide secure, automated documentation, record-keeping and reporting, ensuring regulatory readiness and auditability. 'We are very excited to be releasing the New RolloverAnalyzer, primarily because it represents our client's evolving requirements,' said David Reeve, CEO of InvestorCOM. 'The retirement industry presents a significant opportunity for wealth management, and the 401(k)-to-IRA rollover market alone is approaching $1 trillion in assets annually. We now have over 30,000 satisfied users on our platform, and these new capabilities will further increase the value we deliver to our partners. We are also thrilled to see the organic growth of rollover assets for our clients – on average, our clients are realizing 30% organic asset growth in rollover volumes and assets due to the efficiency of the New RolloverAnalyzer.' Firms using the New RolloverAnalyzer have already experienced significant improvements in both compliance readiness and business outcomes. InvestorCOM's New RolloverAnalyzer has been a game-changer for our firm,' said Rick Ohlrich, CCO RFG Advisory. 'Not only has it simplified our compliance process, but it has also allowed us to increase our rollover business by leveraging simple process and data-driven insights. The new enhancements provide even greater value, ensuring we are well-positioned to meet our regulatory obligations while maximizing client outcomes.' InvestorCOM remains committed to delivering best-in-class regulatory compliance solutions that align with industry trends and evolving client needs. For more information about the New RolloverAnalyzer, visit About InvestorCOM InvestorCOM is a leading provider of regulatory compliance software and communications solutions for wealth and asset managers. Our innovative technology suite supports the principles set out by regulators, enabling firms to meet compliance requirements while improving client outcomes. InvestorCOM's platform is trusted by thousands of advisors and firms to navigate the evolving regulatory landscape with confidence. Ankit Bhatia InvestorCOM Inc [email protected] Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Associated Press
09-04-2025
- Business
- Associated Press
IMPORTANT NOTICE TO NVIDIA SHAREHOLDERS WHO WERE FORCED TO SELL STOCK DUE TO MARGIN CALLS
KlaymanToskes Investigates Forced Sales of NVDA Shares Due to Margin Calls Triggered by Market Volatility and Advisor Misconduct Nvidia Corporation (NASDAQ:NVDA) NEW YORK, NY, UNITED STATES, April 9, 2025 / / -- National investment loss and securities law firm KlaymanToskes announces an investigation into full-service brokerage firms and financial advisors on behalf of Nvidia Corporation (NASDAQ: NVDA) investors who suffered losses due to forced sales of NVDA shares as a result of margin calls. Nvidia investors who experienced significant financial losses as a result of forced sales of securities due to margin calls, or who believe their advisor may have engaged in unsuitable use of margin or negligence, should contact KlaymanToskes at (888) 997-9956 or at [email protected] for a free and confidential consultation to discuss potential recovery options. KlaymanToskes is investigating whether full-service brokerage firms and their financial advisors failed to provide full and fair disclosure about the risks associated with margin trading, recommended excessive use of margin in accounts heavily concentrated in Nvidia stock, and neglected to implement protective strategies such as diversification or hedging. The investigation also seeks to determine whether advisors allowed margin calls to trigger without providing proper notice or taking appropriate steps to manage the associated risks. Many Nvidia shareholders and employees hold significant positions in NVDA stock, often acquired through long-term employment, incentive compensation plans, or personal investment. For those who used margin loans secured by NVDA shares, recent volatility may have triggered unexpected margin calls, resulting in forced liquidations at significantly reduced prices. In these situations, financial advisors may have failed in their obligation to appropriately manage risk and disclose the potential consequences of margin trading, especially in accounts with highly concentrated positions. Under securities industry rules, and Regulation Best Interest (Reg BI), advisors must act in the client's best interest, which includes assessing whether margin use is suitable based on the investor's goals, risk tolerance, and liquidity needs. Investors who suffered losses as a result of forced sales of Nvidia (NVDA) investments due to margin calls, or who believe their advisor may have engaged in unsuitable use of margin or negligence, are encouraged to contact KlaymanToskes at (888) 997-9956 or by email at [email protected] in furtherance of our investigation. About KlaymanToskes KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico. Contact Steven D. Toskes, Esq. KlaymanToskes, P.A.
Yahoo
05-03-2025
- Business
- Yahoo
Advisor360° launches new CRM solution for independent RIAs
Wealthtech firm Advisor360° has unveiled Tandem, a new customer relationship management (CRM) solution tailored for independent registered investment advisors (RIAs). Tandem is a multi-custodial product that includes an advanced reporting engine, a secure document management vault, financial planning integrations, and a modern client-facing portal. The cloud-based offering is designed to automate financial workflows and address regulatory requirements. This platform automates and synchronises client record-keeping, financial planning, and reporting. It transforms client interactions with AI-powered insights and suggests next best actions. Tandem is being showcased at the 2025 T3 Technology Conference this week at the Hyatt Regency in Dallas, Texas. Advisor360° chief product and engineering officer Mat Mathews said: 'We are thrilled to provide Advisor360°'s enterprise-quality, integrated solutions in a way that addresses the needs of billion-dollar independent RIAs. 'Tandem marks the first in a series of offerings from Advisor360° that will empower growing firms to expand client relationships with sophisticated tools typically reserved for larger institutions.' Tandem's 'compliance-ready' design is said to ensure that every action is logged and auditable, enabling firms to meet SEC and Reg BI requirements with ease. Tandem addresses these issues by integrating with other tools such as RightCapital, MoneyGuide Pro, and eMoney, allowing firms to customise their technology stacks at a lower cost compared to traditional enterprise solutions. In January this year, Advisor360° acquired Parrot AI, enhancing its platform with AI-powered meeting recording, transcription, and summarisation tools that integrate seamlessly with major conferencing platforms. The deal includes Parrot AI's core technology and intellectual property, as well as 12 full-time employees, including CEO and co-founder Paul Morville. "Advisor360° launches new CRM solution for independent RIAs" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
