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Exclusive: Fidelity to acquire eMoney Advisor in major adviser-tech deal

February 2, 2015

Fidelity Investments will acquire eMoney Advisor, a top financial-planning software manufacturer, in a move that could resonate as one of its most potent adviser-technology deals to date. Conshohocken, Pa.-based eMoney makes a popular software...

Why advisers are worried about eMoney's acquisition by Fidelity

February 2, 2015

Financial advisers using eMoney Advisor were startled Monday to learn that the firm they relied on for software to create financial plans for clients would now be mostly owned by Fidelity Investments. Fidelity, the nation's second largest mutual...

TD Ameritrade Institutional launching Veo One dashboard for advisers

January 29, 2015

A new platform from TD Ameritrade Institutional offers advisers a single "dashboard" that integrates data from multiple applications and will give advisers a deeper view of their business analytics, the custodian announced Thursday at its national...

Pershing, courting digital wealth managers, teams with Motif

January 27, 2015

Pershing is partnering with Motif Investing Inc. as the online brokerage start-up looks to expand its services for financial advisers in the U.S. and extend its reach internationally, an executive from the custodian said Monday. “A lot of...

Client demand for simpler technology challenges independent broker-dealers

January 25, 2015

An increasingly tech-savvy investor base is challenging independent broker-dealers to meet the demand for simple technology in a way that fits into the complexities of advisers' businesses and keeps investors' personal information protected....

Fidelity fined $350,000 in billing snafu

January 20, 2015

The Financial Industry Regulatory Authority Inc. has ordered Fidelity Investments to pay a $350,000 fine after the firm allegedly overcharged more than 20,000 clients a total of $2.4 million. From January 2006 to September 2013, Fidelity inappropriately...

Mutual Fund Store, once skeptical of ETFs, joins the fray

December 23, 2014

It may be the Mutual Fund Store, but company executives are not dogmatic about the "mutual fund" part. Starting in 2015, the $9.5 billion registered investment adviser known for selling mutual funds and financial advice to the masses will add...

Krawcheck: Wirehouses undaunted by RIA growth

December 11, 2014

Sallie Krawcheck, former head of the brokerage units at Citigroup Inc. and Bank of America Merrill Lynch, stepped into the lion's den on Wednesday to downplay the impact on wirehouses of the so-called breakaway broker movement. Speaking at the...

Service firms race to help advisers create digital platforms

December 5, 2014

Custodians and other firms that serve financial advisers are scrambling to help them integrate digital platforms that will enable them to profit from younger clients and those with fewer assets. Fidelity Institutional, TD Ameritrade Institutional...

Fidelity Institutional weighs own robo offering

December 2, 2014

Fidelity Institutional is rapidly expanding its robo-adviser offerings and may even one day launch its own automated advice platform. The second-largest custodian to registered investment advisers, Fidelity said Tuesday it will begin offering...

Ex-Schwab broker barred for alleged theft of $1 million in office supplies

November 19, 2014

The Financial Industry Regulatory Authority Inc. has permanently barred a former Charles Schwab & Co. Inc. broker after he allegedly stole around $1 million in office equipment from his former firm. Between February and August of this year,...

Fidelity, Pershing, Schwab join suspension of Schorsch REITs

November 12, 2014

After an accounting scandal rocked one of Nicholas Schorsch's companies, broker-dealers began suspending trades of nontraded real estate investment trusts packaged and managed by companies he controlled. Now, three giants in the clearing and...

JPMorgan unwinds B-D clearing biz

November 12, 2014

Fidelity Investments stands to reap the benefits as JPMorgan Chase & Co. unwinds its legacy Bear Stearns broker-dealer services clearing and custody unit. JPMorgan said it had chosen Fidelity's National Financial Services unit as the “preferred...

Focus Financial teams up with top Chicago RIA

November 12, 2014

Focus Financial, one of the largest buyers of registered investment advisers, is beefing up its network of advisory firms. The company has acquired Strategic Wealth Partners, the No. 9-ranked wealth management firm in the Chicago area with $1.4...

5 ways advisers can learn from billion-dollar RIAs - Billion-dollar RIAs' lessons for advisers

November 7, 2014

54% of financial assets are held at firms that have amassed at least $1 billion from clients, up from 42% only six years ago, according to Cerulli Associates. Advisers striving to be among this group of successful firms can learn from these...

Rival Fidelity shows up uninvited at Schwab Impact

November 7, 2014

As a record turnout of investment advisers gathered for Charles Schwab & Co.'s annual Impact conference in Denver, Colo., an uninvited guest lurked outside the gates. Refusing to let Schwab hoard all the attention of the nearly 3,600 advisers,...

Schwab sues ex-advisers, RIA over “conspiracy”

November 3, 2014

Charles Schwab & Co. Inc. is continuing to fight back against former brokers who leave its ranks. In one of its most recent actions, the firm filed suit last month against a Tampa, Fla.-based registered investment adviser, Camelot Wealth Management....

Pershing playing catch-up with competitors as custodian considers offering commission-free ETFs

October 30, 2014

Access to commission-free trading of ETFs will expand in the coming months with the arrival of Raymond James Financial Inc. and the possibility that Pershing also might join the increasingly popular movement. A top Pershing executive said Wednesday...

Pershing “actively” considers launching commission-free ETF platform

October 29, 2014

A top Pershing executive said Wednesday the firm is considering a commission-free trading platform for exchange-traded funds. “We're actively looking at that as a further potential solution, evaluating many things including the economics of...

TD Ameritrade's Veo dashboard gets boost from big data

October 28, 2014

TD Ameritrade is making a more personalized technology pitch to advisers. The firm's top executives said Tuesday that they plan to roll out within the next few months a new system that filters information from third-party software — from CRM...

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