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Equity Outlook  |  Q4 2019

A market of mixed messages

A market of mixed messages

We enter the final quarter of the year with a somewhat puzzling backdrop for equity investors.

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Capital Markets Outlook  |  Fixed Income Outlook

Headlines you need to know this week   —   November 12, 2019

SEC to update advertising rules for advisors
The Securities and Exchange Commission is proposing to update the rules that govern advertising practices for advisors. The rule changes would broaden the definition of advertising to include promotional messaging “disseminated by any means.” The report noted that the changes are a recognition of the use of social media and other online communications to advertise. A 60-day comment period will be announced when the proposal is published in the Federal Register.
More than one third of advisors projected to retire
More than one third (37%) of advisors are projected to retire in the next decade, according to a new report from Cerulli. The industry will lose about 1.4% of its advisors by 2023. The majority of retiring advisors currently work at wirehouses, independent broker/dealers, and national and regional broker/dealers, the report noted. About one quarter of those retiring do not have a succession plan.
Industry groups urge Senate to pass SECURE Act
More than 90 companies and several industry groups signed a letter calling on the Senate to pass the Setting Every Community Up for Retirement Act (SECURE Act). The bill, which proposes the broadest changes to retirement savings since the Pension Protection Act of 2006, is stalled in the Senate. On May 23, 2019, the House passed the legislation with a vote of 417 to 3. The bill would expand access to retirement savings plans for millions of workers and make it easier for small businesses to join together and offer multiple employer plans (MEPs).

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