Wealth Management
Top stories summarized by our editors
12/13/2019

Securities and Exchange Commission Chairman Jay Clayton faced questioning about how the SEC enforces rules at the Senate banking committee hearing on Tuesday. "It is time for the SEC to return to rulemaking and guidance that sets clear expectations before resorting to enforcement activity," said David Bellaire, executive vice president and general counsel of the Financial Services Institute, in a statement after the hearing.

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SEC, Senate Banking Committee, Senate
12/13/2019

Stephen Boswell and Kevin Nichols of The Oechsli Institute offer a four-part framework for financial advisors to improve the videos they produce. They recommend including a teaser, discussing issues, offering a solution and providing a call to action.

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WealthManagement
12/13/2019

There are better options for qualified default investment alternatives than traditional target-date funds, says Jason Shapiro of Willis Towers Watson. He offers four of them, including managed accounts, hybrid models and alternative investments.

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Willis Towers Watson
12/12/2019

Federal Reserve Chairman Jerome Powell says that cash injections into short-term markets have had the intended effect of stabilization but that the central bank remains open to further steps if necessary. Purchasing longer-dated Treasurys might be one option, he says.

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Treasurys
12/12/2019

If passed, the Setting Every Community Up for Retirement Enhancement Act would go a long way in alleviating concerns that have made defined-contribution plan sponsors uncomfortable with offering annuity options, says Paul Richman, the Insured Retirement Institute's chief government and political affairs officer. The law could be a game changer, as "it would reduce [plan sponsors'] current liabilities, which are tremendous," he says.

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PlanSponsor online
12/12/2019

Dwindling yields are prompting Europe's life insurers to look beyond their traditional fixed-income portfolios to include riskier assets such as externally managed alternatives, private credit and real estate.

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Siobhan Riding
12/12/2019

Research by consultants StepStone suggests that the more a private equity firm scales up, the more its internal rates of return suffer. The researchers found that funds that more than doubled in size saw returns fell by an average of 5.8%.

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Stepstone
12/12/2019

Stroock & Stroock & Lavan partner Evan Hudson details how the REIT structure has evolved to make nontraded and net asset value REITs a booming part of the landscape. The first nontraded REIT appears to have emerged in 1990, providing an investment vehicle with "the benefit of a newly constructed portfolio, unburdened by any legacy or non-core assets," Hudson writes.

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Stroock
12/12/2019

Sen. Tim Scott, R-S.C., has introduced a bill to increase reporting requirements for Opportunity Zone investment to gauge the program's effectiveness. Meanwhile, the Treasury Department and the IRS have submitted final Opportunity Zone rules for review by the Office of Management and Budget.

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The Hill, Bisnow
12/12/2019

Saint Paul Opportunity Zone, the first qualified Opportunity Zone fund from Inland Private Capital, has raised more than $30 million in equity to become fully funded. The fund is planning a mixed-use development in St. Paul, Minn., that includes a hotel, apartments, restaurants and retailers.