When Jefferson National asked 1,600 advisors to select the top three trends that will impact their approach to investing in 2017, it was clear that D.C. was top of mind. U.S. Federal Reserve policy came in first with 32 percent of the vote, followed by regulatory changes and Washington politics. Last year, advisors named “ongoing volatility” as the top trend, with 34 percent of the vote. When it comes to what will most negatively impact client portfolios, advisors cite global instability. They also overwhelmingly (85 percent) cited tax reform as the macro issue that will most benefit clients.
Online brokerage Folio Investing has purchased more than 200,000 brokerage accounts from LOYAL3, a low-cost brokerage in San Francisco. The accounts were converted to FolioFirst, the new platform developed for LOYAL3 customers, on May 22. This is Folio’s first acquisition since it bought First Affirmative Financial Network in November 2016, an RIA firm specializing in sustainable, responsible and impact investing. The terms of the LOYAL3 deal were not disclosed.
A Merrill Lynch team based in Clinton Township, Mich., is leaving the brokerage for Raymond James & Associates, the firm’s traditional broker/dealer. Gary Cook and Kristina Daniel, who previously managed about $240 million in client assets as part of the "thundering herd," will also be joined by Beth Decker, a senior client service associate. Clinton Township is just north of Detroit.