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  5.      <title>Portfolio</title>
  6.      <description>Provided for BISA by Smithbucklin</description>
  7.      <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  10.         <title><![CDATA[Ban on Non-compete Agreements Sends Shockwave Across Wall Street]]></title>
  11.         <description><![CDATA[<em>Financial Times (04/26/24) Pollard, Amelia; Masters, Brooke; Franklin, Joshua</em><br />The US Federal Trade Commission\x92s (FTC) recent action to ban non-compete agreements has left Wall Street businesses rushing to restructure contracts and find new ways to retain personnel that their operations rely on. The contracts have long been a hallmark at big banks, brokers, asset managers and hedge funds. Headhunters predict the ban will free talented traders, investors and bankers to leave jobs where they are unhappy and give a boost to well-run groups that can offer more money and a more congenial environment. Industry groups counter that it will make US financial companies less competitive, drive up compliance costs and lead to a flood of lawsuits between employers and departing workers. The US Chamber of Commerce has already filed a lawsuit alleging that the FTC overstepped its authority and further legal challenges are expected.<br /><br />
  12.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  13. ]]></description>
  14.         <link><![CDATA[https://portfolio.bisanet.org/Article/Ban-on-Non-compete-Agreements-Sends-Shockwave-Across-Wall-Street]]></link>
  15.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  19.         <title><![CDATA[EBSA: Retirement Advisors Compliant With Reg BI Are Compliant With Retirement Security Rule]]></title>
  20.         <description><![CDATA[<em>planadviser (04/29/24) Mulholland, Paul</em><br />Ali Khawar, principal assistant secretary for the U.S. Labor Department's Employee Benefits Security Administration, explained in a webinar that advisors compliant with the U.S. Securities and Exchange Commission\x92s (SEC) Regulation Best Interest (Reg BI) rule could use the same policies and procedures to comply with Labor's newly finalized Retirement Security Rule. During a Q&A period, Khawar was asked if an advisor could use their Reg BI policies to comply with the new rule. Khawar said: \x93the short answer is yes.\x94 He added that \x93there are parts of this that very closely align with Reg BI,\x94 and Reg BI \x93is absolutely a basis for thinking about compliance\x94 with the Retirement Security Rule. Khawar was also asked if insurance agents must be informed about mutual funds or even licensed to transact in securities to remain compliant with the rule. Khawar answered that he does not expect every insurance agent to be licensed or make filings with the SEC. He did say, however, that an insurance agent selling an annuity to a retirement investor must \x93understand what it is that the person is giving up as well as what they would buy.\x94<br /><br />
  21.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  22. ]]></description>
  23.         <link><![CDATA[https://portfolio.bisanet.org/Article/EBSA-Retirement-Advisors-Compliant-With-Reg-BI-are-Compliant-With-Retirement-Security-Rule]]></link>
  24.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  28.         <title><![CDATA[A Wealth Shift That Could Leave Some Younger Americans Behind]]></title>
  29.         <description><![CDATA[<em>New York Times (04/28/24) White, Martha</em><br />Baby boomers have trillions of dollars in wealth that some economists predict will have a significant impact on their millennial-aged children when they inherit the assets.  But experts say that the narrative of millennials wielding greater spending power is complex, betraying a generational divide. Boomers say their children live beyond their means. Millennials say their parents don\x92t have a clue how expensive it is to raise a family today. Financial advisors who work with both, meanwhile, say they see a widespread lack of transparency between the two. Even in families that have been able to accumulate some wealth, research suggests that millennials might be overconfident when it comes to expectations about how much they\x92ll inherit. A survey conducted two years ago by Alliant Credit Union found that just over half of millennials who anticipated inheriting money expected that they would get at least $350,000. However, 55% of boomers who say they plan to bequeath assets to their children or other younger family members say the amount will be less than $250,000.<br /><br />
  30.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  31. ]]></description>
  32.         <link><![CDATA[https://portfolio.bisanet.org/Article/A-Wealth-Shift-That-Could-Leave-Some-Younger-Americans-Behind]]></link>
  33.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  37.         <title><![CDATA[Huntington Names New Head of Wealth Business]]></title>
  38.         <description><![CDATA[<em>InvestmentNews (04/26/24) Almazora, Leo</em><br />Huntington National Bank has named Melissa Holding as its new director of wealth management, taking over after Michael Robinson\x92s impending retirement. Holding\x92s leadership aims to accelerate Huntington\x92s growth within the wealth segment. She previously managed the bank\x92s mass affluent client segment, focusing on business results and segment growth.<br /><br />
  39.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  40. ]]></description>
  41.         <link><![CDATA[https://portfolio.bisanet.org/Article/Huntington-Names-New-Head-of-Wealth-Business]]></link>
  42.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  46.         <title><![CDATA[Annuity Sales Up 21% in the First Quarter]]></title>
  47.         <description><![CDATA[<em>Insurance News Net (04/25/24)</em><br />Annuity sellers recorded $113.5 billion in sales in the first quarter of the year, 21% higher than the first quarter 2023. Quarterly sales fell just shy of the record set in the fourth quarter 2023, according to preliminary results from LIMRA\x92s U.S. Individual Annuity Sales Survey. It is the highest first-quarter sales results since LIMRA started tracking sales in the 1980s.<br /><br />
  48.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  49. ]]></description>
  50.         <link><![CDATA[https://portfolio.bisanet.org/Article/Annuity-Sales-Up-21-in-the-First-Quarter]]></link>
  51.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  55.         <title><![CDATA[Jackson Spices Up RILA Suite With New Add-on]]></title>
  56.         <description><![CDATA[<em>InvestmentNews (04/29/24) Almazora, Leo</em><br />Jackson National Life Insurance Company launched a new +Income option to complement its Market Link Pro suite of registered index-linked annuities (RILAs). That add-on, available for an additional fee, helps retirement-focused investors with an offer of guaranteed lifetime income, allowing them to either begin an immediate income stream or opt for deferred withdrawals for potentially increased income over time. Said Brian Sward, head of product solutions at Jackson National Life Distributors, \x93With the addition of +Income, Jackson\x92s RILA offerings can now provide clients with guaranteed retirement income that can withstand unexpected market events, together with the same benefits they\x92ve become accustomed to when utilizing RILAs in their portfolio.\x94<br /><br />
  57.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  58. ]]></description>
  59.         <link><![CDATA[https://portfolio.bisanet.org/Article/Jackson-Spices-Up-RILA-Suite-With-New-Add-on]]></link>
  60.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  64.         <title><![CDATA[IBD Channel Faces Exodus to RIAs]]></title>
  65.         <description><![CDATA[<em>Think Advisor (04/30/24) Fischer, Michael S.</em><br />About 32% of independent broker-dealer (IBD) advisors have considered opening a registered investment advisor (RIA) in the past year, according to Cerulli Associates, and 3% of these have given the idea serious thought. Several factors are influencing employee advisors who prefer the independent model, including a higher payout, the ability to create enterprise value in an independent business, greater autonomy and a desire to create a more personable culture. \x93Added accountability and the unfamiliar economics leave many new RIAs feeling spread too thin and unable to grow their practice as they had expected,\x94 Andrew Blake, associate director of wealth management at Cerulli, said. \x93For asset managers distributing in the RIA and IBD channels, offering business consulting resources that can help advisors work through these challenges will be meaningful for developing a long-term partnership.\x94<br /><br />
  66.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  67. ]]></description>
  68.         <link><![CDATA[https://portfolio.bisanet.org/Article/IBD-Channel-Faces-Exodus-to-RIAs]]></link>
  69.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  73.         <title><![CDATA[MyVest Announces Tax-Aware Portfolio Transition Upgrades]]></title>
  74.         <description><![CDATA[<em>InvestmentNews (04/26/24) Almazora, Leo</em><br />MyVest announced improvements to its Strategic Portfolio System, focusing on extending tax-aware portfolio transition capabilities. \x93Given their associated complexities, tax-aware transitions have traditionally been handcrafted. This presents scale challenges, particularly when viewed at the firm level,\x94 said Anton Honikman, CEO of MyVest. The latest release introduces features designed to simplify the process of transitioning legacy portfolios for firms when they onboard advisors and their books of business, consolidate clients\x92 held-away assets or move accounts into new strategies.<br /><br />
  75.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  76. ]]></description>
  77.         <link><![CDATA[https://portfolio.bisanet.org/Article/MyVest-Announces-Tax-Aware-Portfolio-Transition-Upgrades]]></link>
  78.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  82.         <title><![CDATA[Fidelity: Tech-Savvy Firms Add Clients, Grow Assets Faster]]></title>
  83.         <description><![CDATA[<em>Think Advisor (04/29/24) Fischer, Michael S.</em><br />Wealth management firms that embrace technology best practices report higher than average efficiency, stronger growth, better client experiences and higher advisor satisfaction, according to research from Fidelity Investments. They apply technology best practices across their strategy, design and activation domains, and are growing their client base and assets under management much faster than their counterparts. \x93Our study underscores the impact of technology as a growth driver for wealth management firms that harness its full potential,\x94 Marissa Herr, head of technology consulting for Fidelity Institutional, said. \x93Those who think deliberately about the platforms, integrations and tools that best support the needs of their advisors and clients today have a huge opportunity to create market differentiation.\x94<br /><br />
  84.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  85. ]]></description>
  86.         <link><![CDATA[https://portfolio.bisanet.org/Article/Fidelity-Tech-Savvy-Firms-Add-Clients-Grow-Assets-Faster]]></link>
  87.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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  91.         <title><![CDATA[Cetera Names Head of Corporate Development From Avantax]]></title>
  92.         <description><![CDATA[<em>WealthManagement.com (04/25/24) Hibbs, Ali</em><br />Cetera Financial Group appointed Michael Molnar as head of corporate development. Molnar spent four years leading succession planning for Avantax\x92s independent broker/dealer platform and M&A for its employee-model RIA. He replaces Ken Bond, who has held the position since January 2021.<br /><br />
  93.    &copy; Copyright 2024 <a href="https://content.smithbucklin.com/Copyright" target="_blank">Smithbucklin</a>
  94. ]]></description>
  95.         <link><![CDATA[https://portfolio.bisanet.org/Article/Cetera-Names-Head-of-Corporate-Development-From-Avantax]]></link>
  96.         <pubDate>Wed, 01 May 2024 19:36:55 GMT</pubDate>
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