The sale of American International Group's broker-dealer unit to Lightyear Capital and PSP Investments was prompted in part by the Labor Department's fiduciary proposal, AIG CEO Peter Hancock said. Compliance costs could lead other independent broker-dealers to follow suit, executives say. InvestmentNews (1/29)
For the first time, fees account for more advisory revenue than commissions, according to research from CLS Investments. The trend will continue, it says. Advisors are likely to derive more than 55% of their revenues from fees in the coming years, the research notes. ThinkAdvisor (1/29)
Long-term-care insurance is a topic that advisers should address with clients who are recently divorced or going through a divorce, write Brian Gordon and Murray Gordon of MAGA. Asset-based LTC insurance plans can be worked into divorce agreements, they write. InsuranceNewsNet Magazine (2/2016)
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