Top 10 stories of 2019

Here are the most-read InvestmentNews stories of the year

From financial literacy to rules for claiming Social Security at 70, here are the InvestmentNews stories that were most popular with readers this year.

1. Dawn Bennett sentenced to 20 years in federal prison

Former financial adviser Dawn Bennett was sentenced to 20 years in federal prison for her conviction on 17 federal charges related to a $20 million Ponzi scheme.

2. Rules for claiming Social Security at 70

By now, most financial advisers and many consumers realize that delaying Social Security benefits until age 70 can pay off big time. For every year individuals postpone claiming benefits beyond their full retirement age, they earn an extra 8% per year up to age 70.

3. Envestnet founder and CEO Jud Bergman killed in automobile crash

Envestnet CEO Judson Bergman, 62, and his wife, Mary Miller, were killed in an early morning automobile accident in San Francisco. Mr. Bergman founded Envestnet in 1999 to create a software desktop for independent financial advisers.

4. Financial literacy: An epic fail in America

Lacking the skills needed to make informed financial decisions hurts individuals and the economy. What can advisers do to help?

5. Fidelity sued for secret payments in 401(k) plans

Fidelity Investments has been sued by a 401(k)-plan participant for accepting “secret payments” from certain retirement-plan business partners, allegedly allowing it to reap larger profits at the expense of its customers’ retirement savings.

6. Fidelity draws adviser wrath with 1.9% cash offer

As is typically the case when equity markets turn choppy, financial advisers are paying closer attention to the yields their clients are earning when they turn to the safety of cash. But for custodians and brokerage platforms that often default cash to low-yielding accounts, an increased focus on cash by advisers is tantamount to poking the bear.

7. IRA trusts could become an estate planning disaster

The new SECURE Act that was passed overwhelmingly by the House in a 417-3 vote on May 23 contains a provision to eliminate the stretch IRA and replace it with a 10-year payout for most non-spouse beneficiaries, including trusts.

8. Ken Fisher’s crude comments drag Tiburon CEO summit into the mud

In the age of #MeToo movements and campaigns for diversity and inclusion across the financial services industry, Ken Fisher, founder and chairman of Fisher Investments, has been accused of brazenly violating the limits of good taste and decorum during a presentation at an industry event this week.

9. A new pay model: 300 advisers move and the entire industry feels the shift

Bank of America’s decision to move 300 Merrill Edge advisers into its Merrill Lynch Wealth Management branch offices didn’t attract much attention. But 10 years from now, people might point to it as a watershed moment in the evolution of compensation for financial advisers at major brokerage firms.

10. Social Security COLA for 2020 will be 1.6%

The Social Security Administration announced that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment posted this year. It marks the smallest annual increase in Social Security benefits and payroll taxes since 2017, when the COLA was 0.3%.

Recent Articles by Author

Top 10 stories of 2019

Top 10 stories of 2019

Here are the most-read InvestmentNews stories of the year

Adviser finalists announced in 13th annual Invest in Others Awards

Adviser finalists announced in 13th annual Invest in Others Awards

Fifteen advisers recognized for their work with nonprofits.

Where advisers can begin to battle financial illiteracy

Where advisers can begin to battle financial illiteracy

Three nonprofits highlighted at InvestmentNews' Future of Our Business event.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print


Get unlimited access to

Starting at $4.95 a week for 4 weeks


Pay just $4.95 for the first 4 weeks