Anyone on Social Security is probably about to get some bad news

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A social security cost of living adjustment looks unlikely in 2016 (Investment News)

In October, the Social Security Administration will announce the cost of living adjustment for 2016. An increase is unlikely for 2016 and some earners at the higher end are likely to see benefits decrease as Medicare premiums continue to rise.

According to Investment News, it's unlikely there will be a cost of living adjustment because of slowing inflation over the past year. This is likely to cause high-income retirees to see a drop in benefits because they aren't protected from an increase in Medicare premiums.

Pimco received a Wells Notice (Bloomberg)

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Pimco says it received a Wells Notice from the US Securities and Exchange Commission related to its disclosure over securities in its Total Return Bond Fund ETF. According to Bloomberg, the investigation is looking into "whether the total return ETF purchased small lots of bonds at discounts, then marked them up when valuing holdings to artificially boost returns."

The ETF has gained approximately 20% since its inception in March 2012, outpacing the 12% gain the owners of the mutual fund have enjoyed over that time.

A company's former CEO was indicted for murder and the stock is crashing (Business Insider)

Jerrod Menz, the former president of AAC Holdings has been indicted on a second degree murder charge along with three former employees and a current employee. The indictment stems from a 2010 death of a patient at American Addiction Centers, which AAC is the parent company to. According to a statement released by the company, "Defending ourselves against the indictment could potentially entail costs that are material and could require significant attention from our management." The stock was down as much as 53%.

ETF use is growing among RIAs (Think Advisor)

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The retail investor is finally warming up to the use of exchange traded funds. ETF assets jumped by $265 billion in the second quarter, accounting for an increase of 14%. According to Think Advisor, long-term mutual funds saw their total asset value increase just 6%.

Van Eck Global buys two ETFs (Financial Advisor)

Van Eck has announced the acquisition of the Yorkville High Income MLP ETF (YMLP) and the Yorkville High Income Infrastructure MLP ETF (YMLI). Terms of the transaction were not disclosed. Brandon Rakszawski, product manager at Van Eck Global, noted, "This presented us an opportunity to provide MLP exposure to our existing client base and shareholders of all levels."

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