Updated Saturday, July 26, 2014 as of 9:14 AM ET
Retirees Suffer as 401(k) Rollovers Enrich Brokers
(Bloomberg) -- Kathleen Tarr says AT&T Inc. employees looked to her as “their de facto 401(k) expert.” Visiting their homes and offices, she advised them on their retirement plans as they called up balances on computer screens.
Actually, Tarr worked for Royal Alliance Associates, a brokerage firm owned by insurer American International Group Inc. She encouraged hundreds of departing AT&T employees to roll over their retirement money into the kind of risky high- commission investments that Wall Street’s self-regulatory agency warns against on its website.   more »
More in REITs
As his biggest IBD acquisition closes, Nicholas Schorsch predicts more big-ticket M&A deals during a Milken Institute session; another panelist warns of inflated price tags and bad behavior. more »
'There will be absolutely no pressure to sell any of our products,' says RCS chairman Nicholas Schorsch, who built a fortune on nontraded REITs but has recently been acquiring several big independent B-Ds. more »
A survey of 500 mass affluent investors by an industry association finds -- conveniently -- high awareness and use of nontraded REITs. more »
For RCS advisors and brokers, the sweet spot will be individuals and families with $300,000 to $3 million in investable assets, Schorsch says. more »
Expected interest hasn't materialized for Merrill Lynch's offerings in the non-traded REITs asset class. more »
Larry Roth, former president and chief executive officer of Advisor Group, one of the country’s largest networks of independent broker-dealers, is joining Realty Capital Securities, a major broker-dealer and wholesaler of real estate investment trusts, as chief executive officer. more »
As real estate recovers, non-listed REITs are soaring, but they haven’t been much of a hit with customers of Merrill Lynch. more »
In TD 9626, the IRS issued final regulations under Section 337(d) of the Tax Code to provide guidance concerning certain transfers of property from a C corporation to a regulated investment company or a real estate investment trust. more »
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