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Asset Manager News

June 19, 2017

Tech-Savvy Millennials Rewriting Financial Marketplace Rules, Says FINRA’s Axelrod

Tech-Savvy Millennials Rewriting Financial Marketplace Rules, Says FINRA's Axelrod Industry must attract this cohort 'if we want to avoid the looming succession cliff,' says FINRA's regulatory chief June 13, 2017 | by Melanie Waddell | ThinkAdvisor Tech-savvy millennials are “rewriting the rules of the financial marketplace,” with the banking industry at “the highest risk of disruption by…

June 16, 2017

Carey Financial Closing Its Doors

Carey Financial Closing Its Doors June 16, 2017 | by James Sprow | Blue Vault W. P. Carey Inc. announced today that its Board of Directors approved its plan to end all nontraded REIT fundraising to concentrate on net lease investing. The Company sees the move as eliminating the costs associated with its retail fundraising…

June 16, 2017

Tax reform is noble goal—but hands off like-kind exchanges

Tax reform is noble goal—but hands off like-kind exchanges June 9, 2017 | by DAN WAGNER | Chicago Business Rarely do the interests of small businesses owners, multi-generational family farmers and a broad range of local entrepreneurs agree with almost a century of federal income tax policy—especially when it results in billions of dollars in…

June 16, 2017

DOL fiduciary rule: When advisers actively seek to use BICE

DOL fiduciary rule: When advisers actively seek to use BICE Many advisers are embracing an exemption they've frequently derided, even though a less-contentious one is available for annuity sales June 14, 2017 | by Greg Iacurci | InvestmentNews.com To opponents of the Department of Labor's fiduciary rule, the best-interest contract exemption is something akin to the spawn…

June 16, 2017

Phoenix American Financial Services Announces Zane Doyle as New Vice President, Chief Strategy Officer For Business Development

Phoenix American Financial Services Announces Zane Doyle as New Vice President, Chief Strategy Officer For Business Development June 12, 2017 | Phoenix American Financial Services SAN RAFAEL, CA –Phoenix American Financial Services (PAFS) announced today that the company has hired Zane Doyle as Vice President, Chief Strategy Officer for Business Development. Mr. Doyle will be…

June 16, 2017

Griffin Capital’s BDC to Merge with Griffin’s Credit Interval Fund

Griffin Capital’s BDC to Merge with Griffin’s Credit Interval Fund June 16, 2017 | by Jared Schneider | Blue Vault According to a filing from Griffin Institutional Access Credit Fund, there will be a special stockholder meeting to vote on the combination and reorganization of Griffin-Benefit Street Partners BDC Corp. and Griffin Institutional Access Credit Fund.…

June 16, 2017

Sierra Income Corporation BDC Reduces Sales Load

Sierra Income Corporation BDC Reduces Sales Load June 16, 2017 | by Jared Schneider | Blue Vault According to an announcement on June 15, 2017, Sierra Income Corporation reduced the upfront selling commission from 7.00% to 3.00% and the dealer manager fee was reduced from 2.75% to 2.50%. Additionally, the Advisor will pay the Dealer Manager…

June 14, 2017

NTR Sales Down 8.5% in May While BDC Sales Increase 14%

NTR Sales Down 8.5% in May While BDC Sales Increase 14% June 14, 2017 | by James Sprow | Blue Vault Sales by nontraded REITs fell 8.5% in May. The April sales of $332.6 million reported to Blue Vault by nontraded REIT sponsors slowed to $304.7 million in May. BDC sales reported in May were…

June 14, 2017

DOL fiduciary: The battle is just beginning

DOL fiduciary: The battle is just beginning InvestmentNews senior reporter Mark Schoeff Jr. gets the skinny on the next phase of the fiduciary rule's rollout. June 9, 2017 | InvestmentNews.com Joshua Aron Lichtenstein is an associate at Ropes & Gray LLP where he specializes in ERISA law. In addition, he represents some of the best-known…