Updated October 21 at 6:28pm
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Sean McGarry is vice president and retirement plan service manager at Rockland Trust. He talks with Providence Business News about the recent U.S. Department of Labor ruling on the “conflict of interest” regulation, which is designed to protect investors from hidden fees in retirement-investment advice. McGarry breaks down the regulation and how it could affect clients and financial advisers.v more
(Updated 11:43 a.m. to reflect corrected information) The state pension investment fund lost approximately $471 million in fiscal 2016, marking a 5.9 percent reduction to $7.5 billion compared with fiscal 2015. more
(Updated 11:26 a.m.) Acushnet Holdings Corp., the maker of Titleist golf balls and clubs and FootJoy shoes and performance clothing, aims to raise up to $464 million through an initial public offering. more
(Updated, 4:48 p.m.) Pointing to the currency crisis in Europe and China’s economic slowdown, Rhode Island’s general treasurer says volatility in the financial markets contributed to the 0.28 percent loss on the state’s pension investments last year. more
Washington Trust Bancorp Inc., the parent company of The Washington Trust Co., reported a 3.9 percent decline in net income in the second quarter to $11.1 million, or 64 cents per diluted share, from $11.5 million, or 68 cents per diluted share, a year earlier. more
Johnson & Wales University has registered to start offering certified financial professional education, according to a press release. more
Webster Private Bank, from a purely economic point of view, estimates that Brexit – that is, last week’s British exit from the European Union – will not have a significant impact on global growth. more
I spent the first 17 years of my career working in the New York area. In 2003 my wife and I quit our jobs and moved to Rhode Island for the quality of life. My career evolved into working with startups in the data and SaaS space. This led to nearly … more
Since launching a request for community investment on May 1 to help raise $600,000, Urban Greens Food Co-op has raised $206,000 from 45 individual investors since the beginning of June. more
(Updated 11:49 a.m.) Hasbro Inc. posted fourth-quarter profit that topped analysts’ estimates after demand for “Star Wars” and “Jurassic World” merchandise boosted sales. more
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