With S&P Dow Jones Indices having created a specific real estate sector within the S&P 500 index, State Street Global Advisors is planning to remove most real estate stocks from its Financial Select Sector SPDR ETF and have the fund pay out a special dividend. So reports Nasdaq.com.
A study by the Booth School of Business has concluded that advisor misconduct is “pervasive” and that 7% of advisors have faced disciplinary action, says Amit Seru, a professor of finance at the school and one of study’s authors. So reports The Week.
A recent survey by First Command Financial Services Inc. has found that military families that use advisors are twice as likely to say they expect their finances will improve during the next year compared to those who don’t. So reports Financial Advisor.
The Financial Planning Association has hired Josephine Colacci as its public policy counsel at a time when the organization is pushing to have the Securities and Exchange Commission adopt a fiduciary standard for financial advisors. So reports ThinkAdvisor.
Concerns over data security continue to escalate as reports about highly visible cyber breaches pepper the news media. For financial advisors, cyber breaches can be high stakes blunders that can expose clients to identity theft and financial hardships.