Wealth Management
Top stories summarized by our editors
5/24/2018

Only 35% of college-educated women report feeling confident they can manage investments in their self-directed retirement accounts, compared with 60% of college-educated men and 41% of men who only hold high-school diplomas, according to a Federal Reserve survey. The difference may be exacerbating the gap in retirement savings between the genders, writes Jordan Yadoo.

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WealthManagement
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Federal Reserve, Jordan Yadoo
5/24/2018

More than 70% of US banks posted improved year-on-year Q1 results, with profits of $56 billion, up 27.5%. Banks benefited from higher interest rates, tax breaks and higher net operating revenue.

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Reuters
5/24/2018

AIMA is developing educational resources to help Canadian investors with alternative investments as proposed amendments are aimed at modernizing National Instrument 81-102-Investment Funds, thereby providing greater access to that space, said Claire Van Wyk-Allan, AIMA's head of Canada. Investable assets available to Canada's liquid alternatives market are an estimated $78 billion, according to a 2017 report by the Canadian Imperial Bank of Commerce.

5/24/2018

A report from Coalition says the biggest investment banks' revenue from prime brokerage services rose 20% in the first quarter, although an upward trend seems unlikely to emerge.

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Coalition
5/24/2018

Net outflows for hedge funds in April rose to their highest point since October 2016 and were experienced by nearly two-thirds of hedge fund managers reporting to eVestment. "The strong should survive and prosper for the greater long-term health of the pack, and this appears to be exactly what is happening in 2018," eVestment said.

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Funds Europe
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eVestment
5/24/2018

Three bills -- the Innovative Technology Arrangements and Services Bill, the Virtual Financial Assets Bill and the Malta Digital Innovation Bill -- have been introduced to establish a regulatory framework for cryptocurrencies in Malta.

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Finance Magnates
5/24/2018

Congress has passed and sent to President Donald Trump a measure that protects financial professionals who report financial exploitation and abuse of seniors. "Through increased education and awareness of the signs and symptoms of exploitation, the Senior$afe Act will empower and encourage financial professionals to report suspected cases of exploitation to law enforcement and other appropriate governmental agencies, thereby helping to prevent older investors from becoming victims," said Lee Covington, the Insured Retirement Institute's senior vice president and general counsel.

5/24/2018

American Equity Investment Life Holding, a major provider of annuities in the US, confirmed reports that it is in talks that could lead to its sale. The company issued a statement saying it is "in preliminary discussions regarding a potential transaction."

5/24/2018

Many employers would be wise to look into transferring their pension liabilities to an annuity purchased from an insurance company to reduce the size of the plan, says Elliot Dinkin, president and CEO of Cowden Associates. Taking that step can give a company greater control over its expenses and risks, he says.

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Employee Benefit News
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Elliot Dinkin, Cowden Associates
5/24/2018

Since the start of 2017, about $270 billion worth of
life, annuity and group benefits have switched hands, according to a Moody's Investor Services report. This trend could have negative consequences for policyholders and their financial advisors, said Laura Bazer, Moody's senior credit officer.

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Moody, Laura Bazer