Morning Memo
Wealth Management Morning Memo

JUNE 5, 2020

INDUSTRY

Shareholders, DOJ Clear the Way for Schwab/TD Ameritrade Merger

TD and Schwab shareholders voted in favor of the merger; Schwab expects the deal to close in the second half of this year, with an integration period of 18 to 36 months.

FULL ARTICLE

REGULATION AND COMPLIANCE

Focus Financial Network, More Large RIAs Disclose PPP Loans As Congress Passes Changes to Program

The new legislation will lengthen the amount of time in which businesses can spend the loan, as well as the amount of time in which they have to pay the loan back if it is not forgivable.

FULL ARTICLE

SPONSORED CONTENT

Running an Advisory Business: Costs, Challenges and Opportunities

Strong front and back office operations are critical links in the chain for adivisors.

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ETFS

The Year of the Active ETF

In the first five months of 2020, the 29 new active funds, including a wave of new non-transparent ETFs, have put the industry on pace for a total of 70, exceeding 2018 (64) and 2019 (59) levels, according to First Bridge Data.

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CAREERS

Five Books to Gain Perspective

It's a challenging time in the world right now. Here are a few thoughtful resources to keep your mind right.

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CORONAVIRUS COVERAGE

INDUSTRY

McKinsey Report Warns Against Applying 2008 Lessons to Coronavirus Crisis

The pandemic's impact will affect advisors differently than the last major financial crisis, according to McKinsey.

FULL ARTICLE

HIGH NET WORTH

Can a 2020 Payroll Tax Cut Save the Economy?

Pros and cons of a potential tax holiday.  

FULL ARTICLE

INSURANCE

How Does COVID-19's Low-Interest Environment Affect Existing Insurance Policies?

Your clients have a number of options for how to handle whole life, universal life and indexed universal life insurance policies.

FULL ARTICLE

SPONSORED WEBINAR

Delivering Actionable Insights: How Wealth Managers Can Leverage Technology and Data to Meet Client Demands

Now, more than ever, it is critical to meet your clients’ demands for more transparency and personalized information. Join this webinar for a discussion on how wealth managers are evolving to support growing client expectations.

Tuesday, June 9, 2020 | 2:00 PM EDT

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The Daily Brief

REGULATION AND COMPLIANCE

Merrill Lynch to Pay $7.2 Million for Mutual Fund Fee Violations

According to FINRA, Merrill Lynch failed to properly supervise its thundering herd so that clients received sales charge waivers and fee rebates, impacting 13,000 accounts.

FULL ARTICLE

MUTUAL FUNDS

More Advisors Turning to ESG Funds

Nearly one-third of advisors plan to increase their use and recommendation of ESG funds over the next 12 months, up from 19% in 2019, according to a new FPA survey.

FULL ARTICLE

TECHNOLOGY

Investors Launch Funds For Historically Ignored Entrepreneurs

Andreessen Horowitz is looking for "entrepreneurs who did not have access to the fast track in life but who have great potential." SoftBank launches $100 million fund for "companies led by founders and entrepreneurs of color."

FULL ARTICLE

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