Indianapolis-based investment firm Sheaff Brock to be acquired
The acquisition of Sheaff Brock will be California-based Allworth Financial’s third and largest Indianapolis acquisition to date.
Investment Advisers
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IBJ Podcast: Pete the Planner on the 5 things everyone should know about their financial life
Pete Dunn and podcast host Mason King also discuss how to deal with the unwelcome revelation that you and your family are spending more money than you’re making.
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IBJ Podcast: Do I need a financial adviser? Probably. But how do I pick?
As host Mason King has experienced, figuring out what type of adviser you need and then which one to hire can be tough. So Peter “Pete the Planner” Dunn explains what to look for and how to choose.
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Articles
Indianapolis fintech startup Habits lands $1.1M investment
Indianapolis-based Habits Inc., which offers a platform where financial advisers can connect with potential clients, announced this week that it had closed on a $1.1 million round of pre-seed funding.
Indianapolis-based Ren Inc. snags big investment from Bain Capital fund
Ren, an Indianapolis-based financial technology firm, says it received an investment of between $75 million and $300 million from a fund associated with Boston-based Bain Capital. It’s the first outside funding Ren has taken in its 36-year history.
How socially responsible are your investment funds?
The U.S. Securities and Exchange Commission has proposed a rule that would, for the first time, require funds and advisers to disclose information about how environmental, social and corporate-governance issues truly factor into their investment products and services.
Former Merrill Lynch broker Buck ordered to pay $7.5M in damages to former client
Thomas Buck built a reputation as one of the state’s top financial advisers before being sentenced to prison for securities fraud in 2019.
Hahn: Becoming the best you in 2022 means balancing health, wealth
It is well documented that health issues, problems with money, and poor mental health influence one another.
Pete the Planner: Why mid-life can be a rocky time for personal finances
I’ve long thought ages 47 to 53 were the most financially challenging years of a person’s life.
Indianapolis-based Castle Wealth Advisors acquired by Kansas firm
Castle President and CEO Gary Pittsford, who founded his business in 1973, said the deal will allow the firm to continue to grow, and give it access to a much larger pool of experts and services.
NY hedge fund’s meltdown could cost clients of Carmel investment firm millions
Indie Asset Partners customers are upset that the hedge fund, which was supposed to spread out funds to dozens of money managers, instead concentrated the money with a single manager whose performance tanked early last year.
Arbitrators deny J.P. Morgan’s request for damages against three former advisers
J.P. Morgan had claimed that the three former employees improperly solicited clients to follow them to their new firm.
Trump says he plans to keep criticizing Fed over rates
President Donald Trump said he thinks economic growth and stock market indexes would be substantially higher if the Federal Reserve hadn’t raised interest rates so much.
Morgan Stanley’s Kathy Birk is a by-the-book ‘maverick’
When Kathy Birk retires next month as manager of Morgan Stanley’s local operations, she’ll achieve a rare milestone in a stressful industry where most people wash out or get fired first.
Former powerhouse investment broker Buck sentenced to more than 3 years in prison
The case against the former star Merrill Lynch broker centered on his practice of keeping clients in commission-based accounts even as the securities industry moved toward fee-based accounts, which in many cases were cheaper for clients.
Investment experts: Don’t panic; look for opportunities
It’s not clear whether the bull or the bear will prevail in 2019, so financial planners are counseling clients to expect volatility and take advantage of it, if that meets their long-term strategies.
J.P. Morgan takes three former advisers who joined competitor to court
J.P. Morgan has won a preliminary injunction against three former employees in its Carmel office, who are accused of taking at least 20 clients with millions of dollars in assets to a competing firm.
Allstate plans to add more than 200 agents in Indiana
The insurer said it is looking for 15 new agency owners in Indianapolis who will hire 46 sales agents after they open for business.
State fines investment firm $450K for ‘deficiencies’ in Indiana
Investment firm LPL Financial has agreed to pay a civil penalty for "various deficiencies" related to supervision of its Indiana operations, the Secretary of State’s office said Monday.
SEC charges local investment adviser, a former math teacher, with fraud
The complaint alleges that the former middle school math teacher “took advantage” of current or former teachers and other workers in public education by selling them “extremely risky securities” that brought her commissions worth $2.5 million.
New studies show women less confident, less knowledgeable about money matters
Just more than half of married women leave long-term financial decisions, including those about investing, to their spouses, even though the wives often are handling the daily household budget.
Defense makes bold new claim before stockbroker Thomas Buck sentencing
The former star Merrill Lynch broker this month threw federal prosecutors for a loop, arguing days before his scheduled sentencing for securities fraud that his offense caused “zero financial loss.”