Hines Global Income Trust has paid $33.4 million for a 572,500-square-foot property in Madrid. The property has six industrial and office buildings, and the transaction is structured as a lease-back with Airbus Defence and Space.
The Securities and Exchange Commission has updated FAQ for Form CRS, including information on where to file the form and requirements for dual registrants. Advisors must have filed the form with the SEC by Tuesday.
Workers in 401(k) and 403(b) retirement plans who save only enough to get the company match could end up with a great deal less in savings than they will need when they retire, according to financial planner James Brewer. "Then your choices become to delay retirement or to save an even higher percentage of your income in the final years of employment," he writes.
Compliance with the Securities and Exchange Commission's Regulation Best Interest brings new challenges for financial professionals but technology can help, writes Advicent CEO Angela Pecoraro. "A fully integrated, intuitive wealth management or financial planning technology platform that generates operational efficiencies, fosters more meaningful communication and collaboration with clients, and documents broker/client communications can help broker-dealers adapt and meet Reg BI rules," she writes.
Companies that say they want to increase diversity in their ranks need to be held accountable for meaningful change to occur, says diversity consultant Al Vivian. To do that, they must admit that white privilege exists, take action and then build accountability into their efforts.
Financial advisors need to be aware of cybersecurity risks and have a strategy in place to deal with them, writes Christopher Crawford of Buffalo Funds. As part of this strategy, he recommends reviewing vendors, establishing rules for electronic communications and performing vulnerability tests.
Referrals who reach out to an advisor first are what Bryce Sanders of Perceptive Business Solutions calls "super prospects." But there is still work to be done to turn them into clients, he says, offering six tips to help close the deal.
Football stadium projects across the US have experienced coronavirus outbreaks that have resulted in delays in some cases. Contractors have responded by taking steps such as sanitizing project sites and providing workers with additional personal protective equipment.
The Federal Motor Carrier Safety Administration is working toward a proposed rule that would allow suspensions of truck brokers' operating authority in cases where motor carriers' claims are unpaid. Brokers are required to have a $75,000 surety bond or trust fund, but it can take months for their operating authority to be revoked if that amount is depleted.
Firms have been working for more than a year to get ready for the Securities and Exchange Commission's Regulation Best Interest, says Peter Wilson, managing director of compliance and regulatory consulting at Duff & Phelps. He notes that while Reg BI compliance will be incorporated into all exams immediately, the agency will likely give firms time to polish their disclosures.
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