Cynthia Hoes

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Transform Your Culture: BISA Convention Workshop Preview

Feb 28, 2024 | portfolio.bisanet.org | Cynthia Hoes |Silla Brush

With the BISA 2024 Convention only a week away, presenters are putting the finishing touches on their sessions and preparing to share resources to shape our industry’s evolving landscape. Below, Associate Vice President of Nationwide Financial Cynthia Hoes, MBA, gives attendees a sneak peek at the upcoming DE&I workshop “Transform Your Culture Through Authentic and Purpose-Driven Employee Communities” happening Wednesday, March 6.
Blackrock Says ‘New Regime’ Calls for More Active Management

Feb 27, 2024 | portfolio.bisanet.org | Silla Brush |Cynthia Hoes

Higher interest rates, persistent inflation and geopolitical risk offer active managers a bigger opportunity to beat simple buy-and-hold portfolios, BlackRock Investment Institute analysts wrote in a new paper that referred to the environment as a “new regime.” The analysts join top executives at some of the largest firms, including Janus Henderson Group Plc, Franklin Resources Inc., T. Rowe Price Group Inc. and Neuberger Berman, in stressing the role of active management in current markets.
California Senate Approves Bill Requiring 'Best Interest' Standard on Annuity Sales

Feb 23, 2024 | portfolio.bisanet.org | Cynthia Hoes |Silla Brush |Terrance Dopp

The California Senate gave final approval to legislation changing disclosure regulations and annuities sales by agents. Under terms of the bill, producers would be required to act in the best interests of clients by disclosing how the transaction would benefit them and disclose any hidden fees or charges. The measure next heads to Gov. Gavin Newsom for his signature. If signed, the changes would bring California in line with 40 other states. Read the full article on BestWire
Wells Fargo Taps Company Vet To Be Top Dog of Indie Channels

Feb 23, 2024 | portfolio.bisanet.org | Miriam Rozen |Cynthia Hoes |Silla Brush

Wells Fargo & Co. has promoted Erik Karanik to a newly created role overseeing all of its independent advisor channels. As head of Wealth & Investment Management Independent Solutions, he has been charged with “accelerating” growth at the independent channels, according to Barry Sommers, CEO of Wells’ wealth business. Karanik has been with Wells since 1990, most recently leading a team focused on reducing risks and setting regulatory-related controls at the wealth division.
Franklin Templeton Sees Alternatives Opportunities 2024

Feb 22, 2024 | portfolio.bisanet.org | Edward Hayes |Cynthia Hoes |Silla Brush

The Franklin Templeton Institute believes there will be opportunities in alternatives this year, including direct lending and distressed debt. “Many of the same issues that impact traditional investments also impact alternative investments,” states Templeton's 2024 Alternative Investment Outlook report.
Prudential Hit by Ransomware Group

Feb 22, 2024 | portfolio.bisanet.org | Allison Bell |Cynthia Hoes |Silla Brush

The ALPHV/BlackCat ransomware group says it has stolen information from Prudential Financial and is holding it for ransom, but Prudential has concluded that the breach seems to be small. “On the basis of the investigation to date, we have not found any evidence of malware, ransomware, data destruction or alteration, or that the threat actor currently has access to our systems,” Prudential said.
Cetera Scoops Up Another Kansas-Based RIA

Feb 22, 2024 | portfolio.bisanet.org | Ted Godbout |Cynthia Hoes |Silla Brush

The Retirement Planning Group (TRPG), based in Kansas, has acquired 100% of the assets of Dightman Capital Group Inc., a registered investment advisor (RIA) also based in Kansas. The deal marks the start of integration of RIAs under TRPG, which was itself acquired by Cetera Holdings in May 2023 and oversaw around $1.8 billion in assets as of January 31. It’s also part of a goal to grow Cetera’s share of the RIA market following the hiring of CEO Mike Durbin last year.
Communications Key In Couples' Financial Health, Fidelity Finds

Feb 22, 2024 | portfolio.bisanet.org | Edward B. Hayes |Silla Brush |Cynthia Hoes

The 2024 Fidelity Investments Couples & Money Study, found that of partners who say they communicate well, 78% said that money is not their number one relationship challenge, compared to 51% for partners who said they do not communicate well. Those who work with an advisor were also less likely to be worried about their finances, according to the study.
How Asset Managers Can Get ‘Dabblers’ To Pursue More DC Business

Feb 21, 2024 | portfolio.bisanet.org | Brian Anderson |Cynthia Hoes |Silla Brush

Cerulli Associates is urging asset managers to adapt their approach in working with advisors who focus on defined-contribution (DC) plans. Most top-tier asset managers have separate wholesaler teams dedicated to covering the DC market, including B/D-based advisor practices that specialize in advising retirement plans.
Athene Execs Unbothered by Regulatory, Interest Rate Headwinds

Feb 21, 2024 | portfolio.bisanet.org | John Hilton |Cynthia Hoes |Silla Brush

At a recent conference call held by Athene executives with Wall Street analysts, the first question focused on regulatory efforts to beef up the requirements for reinsurance participants. Martin Klein, executive vice president and chief financial officer of Athene, said the insurer is not greatly concerned. "We manage our reinsurance relationships as we do everything.