The InvestmentNews Podcast

As Joe Biden releases his tax plan, we fold in a deep dive into the odds of a financial transaction tax hitting wealth management.

The pace of mergers and acquisitions in the RIA space fell off pace from March through May, but ramped back up in June, suggesting the second half of the year could be on pace with the record levels of 2019.

IN technology reporter Nicole Casperson joins the podcast to explain Wells Fargo’s challenges getting the TikTok app removed from company-issued devices.

And Nicole, who was hired in May, shares her perspective on what it’s like to be interviewed, hired, and start a new job without a single in-person meeting with her new colleagues.

Dani Fava emerged this week as the latest example of fallout from Schwab’s pending $26 billion acquisition of TD Ameritrade. She explains her rationale for joining Envestnet to take on new challenges.

Bruce explains how the math doesn’t add up at GPB Capital, where the latest public filings point to a $200 million gap at this alternative investments operation.

The conundrum of why zero-fee funds don’t always fly off the shelf has the asset management industry scrambling to find the sweet spot when it comes to expense ratios. Spoiler alert, brand names matter.

Securities America’s quest for scale through acquisitions is leaving a lot of reps waiting on hold as the near-constant state of consolidation creates headaches and technology glitches that might not have been anticipated.

And in the popular Open Notebook segment, Jeff and Bruce ponder how far is too far when it comes to leaning on a global pandemic as an excuse for lousy service.

InvestmentNews senior reporter Mark Schoeff, a veteran Washington insider, takes us behind the scenes of Congress and regulatory rule making to highlight the hurdles facing ESG investments trying to get a piece of the lucrative retirement savings market.

Bruce details the sad regulatory track record of Purshe Kaplan Sterling, where million-dollar-plus settlements are too common.

We explain why The Vanguard Group throws in the towel in a 20-year battle with value investing by folding a $1 billion actively-managed mutual fund into a $77 billion index fund.

Earnings season is here, and the message is becoming clearer that fallout from the coronavirus is changing the way brokers and advisers move between firms.

And this week’s Open Notebook segment explores how a lack of industry conferences and a face-to-face meetings with sources is changing the way we gather the good gossip.

Recruiting behemoth LPL Financial never lets up, and we look at the latest effort to expand the footprint.

Skip Schweiss becomes the latest high-profile exec to jump ship at TD Ameritrade ahead of the Schwab acquisition.

Morgan Stanley’s acquisition of ETrade has left the big bank with a small custody business that might not have a permanent home.

And in the Open Notebook segment Jeff and Bruce delve into the reality of placing “chief” in front of anything and everything to make us all feel better about ourselves.

Merrill Lynch has learned that broker trainees are one group of employees that is not best suited for the remote work environment. The wirehouse has temporarily shuttered its trainee program after some of the cold-calling newbies apparently went off the rails. Who didn’t see this happening?

Jeff and Bruce take another look at the potential conflicts of interest that could arise as Morgan Stanley continues to absorb ETrade’s custody business.

What’s up with buffered ETFs? Jeff and Bruce discuss how they work, when they work, who needs them and the reason they cost so much more than other ETFs.

The pace of consolidation in the RIA space is an ongoing story, but as the biggest buyers get bigger, is it possible the consolidators will start consolidating? We tell you what the biggest buyers are doing and how.

And in the Open Notebook segment, we celebrate the unusual level of access to high-level industry executives. It’s one of the upsides of a pandemic lockdown that has left everyone with more time on their hands.

We look at how the Twitter dustup between two advisers over politics should send a message to the financial services community that it doesn’t pay to let your political colors show on social media. Also, Covid has had a negative impact on broker recruiting. Then we get into the trend toward reducing bond allocations from otherwise balanced portfolios. And Bruce Kelly dishes up another example of a bad broker. Finally, in the Open Notebook segment, we delve into whether New York can continue to be the center of the universe, as far as New Yorkers are concerned.

From Washington, D.C., special guest Mark Schoeff joins hosts Jeff Benjamin and Bruce Kelly to look at the fallout for the wealth management industry in the wake of both the Democratic and Republican national conventions. Jeff raises the question of accredited investors, Bruce has an update on the ongoing GPB scandal and Mark takes issue with PR folks hampering interviews at times.

Mary Beth Franklin is one of the country’s leading experts on Social Security and Medicare. An award-winning journalist and Certified Financial Planner, Mary Beth writes a weekly column on retirement issues for Investment News and is author of the ebook, Maximizing Your Social Security Retirement Benefits.

This week we looking into the NFL Players Association rules for hiring financial advisers, along with the poor performance of active management. Hosts Jeff and Bruce also look at job cuts at Raymond James, a guest appearance by IN reporter Emile Hallez to discuss his latest cover story, and we grade Morningstar’s virtual conference.

Hosts Jeff Benjamin and Bruce Kelly dedicate this week’s show to a candid conversation with Dr. Burton Malkiel, legendary author of “A Random Walk Down Wall Street” and a renowned investor and economist who spent most of his career ruffling the feathers of the Wall Street establishment. They discuss Malkiel’s views that the current trend of ESG investing may not be the best method for reaching either of the oft-stated goals of ESG: doing well while doing good. Bruce and Jeff also dive into the bond market and active management during the interview.