In the Thanksgiving edition of Retirement Income Journal, Kerry Pechter assesses the impact of the Schwabitrade deal. In gobbling up TD Ameritrade, Schwab is consolidating power and RIA custody in one behemoth organization, the impact of which promises to be felt in some predictable and unpredictable ways. Pechter draws his particular focus on the how...Continue Reading
Under a photo captioned “Louisville Slugging” Oisin Breen writes about RetireOne’s acquisition of EF Legacy Securities broker-dealer from Edelman Financial Engines. In the “Brooke’s Note” intro to the piece, RIABiz Editor Brooke Southall says of the deal, “Nobody can dispute the beauty of guaranteed income. But in financial advice, such a thing takes the form...Continue Reading
Of RetireOne’s EF Legacy Securities broker-dealer purchase, WealthManagement.com journalist Patrick Donachie says the deal “will enable RetireOne to offer greater options for RIAs interested in commission-free insurance and annuities products.” This is especially valuable for former broker-dealer registered representatives who are transitioning from the commissioned-based compensation model to the fee-based model. The significance of the...Continue Reading
Reporting on the purchase of EF Legacy Securities by Aria/RetireOne, InvestmentNews writes, “the acquisition allows RetireOne to expand its insurance and annuity back-office services for RIA firms, and better assist registered representatives moving their practices to a fee-based model, Aria said in a release.” InvestmentNews also reports that Chief Compliance Officer Rainey Gray has agreed...Continue Reading
Allison Bell writes in ThinkAdvisor that RetireOne has acquired the EF Legacy Securities broker-dealer from Ric Edelman’s company, Edelman Financial Engines. She notes that the Sunnyvale California-based Registered Investment Advisor sold only the broker-dealer, which was formerly based in Henrico, Virginia. The broker-dealer purchase bolster’s RetireOne’s insurance and annuity back office capabilities, and better positions...Continue Reading
The broker-dealer purchase accelerates growth and boosts RetireOne insurance and annuity back office capabilities San Francisco, Calif. – November 13, 2019 – RetireOne®, the leading independent platform for fee-based insurance solutions, has purchased the EF Legacy Securities broker-dealer (“EFLS”) from Edelman Financial Engines. The acquisition expands RetireOne’s capabilities to better serve RIAs with additional flexibility...Continue Reading
In a recent InsuranceNewsNet article writer Katie Thompson cites a 2018 Global Atlantic survey that confirms what we’ve learned over the course of the last few years: Financial Advisors prefer to work with a platform of multiple annuity solutions from multiple providers. Indeed, an overwhelming 96% of respondents to the survey indicated that they would...Continue Reading
Saying “Farewell” to an Industry Giant, Women’s Equality Day, Equal Pay for Superior Play, Private Letter Ruling, Fee-Based Life, and Recession Worries/Sequence of Returns Risk In Memoriam On Thursday, October 3 Envestnet founder and CEO Jud Bergman and his wife Mary Miller-Bergman were tragically killed in an automobile accident in San Francisco. An impaired driver...Continue Reading
A recent private letter ruling (“PLR”) offers tax relief for the annuity-owning clients of registered investment advisors. Issued by the IRS in August, the ruling allows fee-based advisors who manage client assets in non-qualified annuities to bill from them directly without creating a taxable event. Because of the positive impact on client experiences, many financial...Continue Reading
Flat-fee variable annuity Elite Access Advisory IISM, income-focused Perspective Advisory II® va, and zero-surrender-charge fixed indexed annuity Marketprotector AdvisorySM from Jackson National were added to the RetireOne platform and Emile Hallez covered the deal for “Ignites.” Noting the growing demand for fee-based insurance and annuity solutions among RIAs, Hallez writes that awareness of these zero-commission...Continue Reading
