National Planning Holdings snapped up by LPL Financial | Fiduciary rule delay may end best-interest contract | Fed's Dudley supports one more 2017 rate hike
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August 17, 2017
IPA NewsBrief
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National Planning Holdings snapped up by LPL Financial
LPL Financial, the country's biggest independent broker-dealer, has closed on its purchase of National Planning Holdings, an IBD with 3,200 advisors. The initial purchase price is $325 million, but that could rise to more than $500 million depending on how much NPH business migrates to LPL.
Financial Planning online (8/15) 
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Fiduciary rule delay may end best-interest contract
The Labor Department's proposal to delay full implementation of its fiduciary rule may mean an end to one of its most controversial aspects, the best-interest contract, according to several industry observers. Those opposed to the BIC argue it is overly complicated and would raise liability costs.
InvestmentNews (tiered subscription model) (8/15) 
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Fed's Dudley supports one more 2017 rate hike
Fed's Dudley supports one more 2017 rate hike
Dudley (Kirsty Wigglesworth/AFP/Getty Images)
Treasury yields rose after Federal Reserve Bank of New York President William Dudley said he favors another interest-rate increase this year if economic improvement appears. The Fed balance sheet likely will fall to between $2.5 trillion and $3.5 trillion five years after shrinkage starts, he said.
Reuters (8/14),  Reuters (8/14) 
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Fed's balance sheet cut expected to hit MBS
Mortgage-backed securities likely will take the biggest hit from the Federal Reserve's shrinkage of asset holdings, analysts predict. The yield spread between Treasurys and mortgage bonds has nearly tripled from a low in 2016, and it is expected to double in the next year.
Bloomberg (8/11) 
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Industry News
Bluerock Value Exchange sells out 1031 exchange program
Bluerock Value Exchange has announced that its BR Big Creek DST 1031 exchange program has sold out. Over $35 million in capital was generated for the Class A multifamily community in Alpharetta, Ga.
The DI Wire (free registration) (8/15) 
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KBS Strategic Opportunity REIT II plans secondary offering
Publicly registered nontraded real estate investment trust KBS Strategic Opportunity REIT II has filed a $625 million registration statement for a secondary offering. The REIT's filing with the Securities and Exchange Commission includes plans for $500 million in Class A and T shares, along with $125 million in distribution reinvestment plan shares.
The DI Wire (free registration) (8/15) 
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JLL Income picks up Las Vegas retail center for $63 million
Montecito Marketplace, a grocery-anchored neighborhood shopping center in Las Vegas, has been purchased by JLL Income Property Trust, an institutionally managed, daily valued perpetual life real estate investment trust, for about $63 million. "Montecito Marketplace is an excellent fit within JLL Income Property Trust's retail portfolio, as we increase exposure to high-quality, grocery-anchored centers in strong metropolitan markets," said JLL Income President and CEO Allan Swaringen.
The DI Wire (free registration) (8/14) 
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NorthStar Securities is the broker-dealer affiliate of Colony NorthStar, Inc. (NYSE: CLNS), a leading global real estate and investment management firm. NorthStar Securities offers a diverse range of institutional-quality alternative investment programs designed to meet a variety of investor objectives.
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Policy Update
GOP works to craft successful tax reform message
GOP lawmakers are setting their sights on tax reform, an issue they believe voters will be enthusiastic about, after they failed to enact health care legislation. Legislators and strategists are eager to present their plan, which they say will simplify the tax code, create jobs and put more money into taxpayers' wallets.
The Hill (8/16) 
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Regulatory unwind reckless, Fed's Fischer says
Regulatory unwind reckless, Fed's Fischer says
Fischer (Mandel Ngan/Getty Images)
Republicans' drive to reverse post-crisis financial regulation, particularly capital and liquidity requirements for large institutions, is "dangerous and extremely shortsighted," said Federal Reserve Vice Chairman Stanley Fischer.
Financial Times (tiered subscription model) (8/16) 
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Morris, Manning & Martin is an AmLaw 200 law firm with national and international reach.
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Income Planning
How health savings accounts can help boost retirement funds
How health savings accounts can help boost retirement funds
(Christopher Furlong/Getty Images)
Health savings accounts are growing in popularity as a way to boost retirement savings while offering what financial planner Sophia Bera calls a "triple tax benefit." "The money is tax deductible when you put it in, it grows tax-deferred and you can take it out tax free if used for qualified medical expenses," she said.
CNBC (8/10) 
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Business Best Practices
Commentary: Advisors must be aware of their online presence
Commentary: Advisors must be aware of their online presence
(Pixabay)
Prospective clients are likely to research potential advisors, writes communications specialist Megan Carpenter, who argues advisors to take care to craft their online presence to send the right message. She suggests a quick test to see if that presence is up to snuff.
InvestmentNews (tiered subscription model) (8/10) 
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About IPA
For over 30 years, the Investment Program Association (IPA) has supported individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors, including: non-listed REITs, non-listed business development companies (BDCs), energy and equipment leasing programs and real estate private equity offerings. Direct Investment products have been held in the accounts of more than 2.8 million individual investors. They remain a critical component of an effectively diversified investment portfolio and serve an essential capital formation function for the U.S. economy. The mission of the IPA is advocating Direct Investments through education and public awareness.

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