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Finra fines 5 brokerages $185,000 for Reg BI, Form CRS violations
The actions illustrate Finra’s continuing crackdown on compliance shortcomings related to the conduct standard that was implemented in June 2020.
Top-earning CEOs at broker-dealers in 2022
Chief executives at leading brokerage and advisory firms are earning more money than ever. Here are the numbers on last year’s compensation for some of the highest-profile executives.
Orion CEO Eric Clarke announces retirement plans
Clarke informed the company's board of directors that he plans to step down at the end of the year.
Merrill Lynch continues management reshuffle
The executive team under Lindsay Hans and Eric Schimpf is taking shape; Ken Correa takes on an expanded role as head of business and client development, while Erik Vatter was named head of advisor development.
Here are the top 3 candidates to replace Gorman as Morgan Stanley CEO
Andy Saperstein, Ted Pick and Dan Simkowitz are thought to be executives in the running to succeed James Gorman, who says he will step down in the next 12 months.
ESG jobs in finance come with a bigger paycheck, data show
Hiring and compensation for industry position with 'ESG' in the title have increased, Revelio Labs found.
Sustainable investing practice brings advisor ‘perfect’ clients
Ninety-eight percent of Eric Souder's clients are invested in socially responsible portfolios he runs that are built with institutional shares of mutual funds.
What keeps these top securities regulators awake at night?
"I call it B-D/IA arbitrage," Finra's Christopher Kelly said, describing his concern about advisors flouting the boundaries between charging clients fees and commissions.
New diversity report makes familiar recommendations
The report from the CFP Board outlines specific steps proven to establish and cultivate equity for employees at all levels with financial services organizations.
Morgan Stanley CEO Gorman stepping down within 12 months
Gorman, who transformed Morgan Stanley after it nearly collapsed during the global financial crisis, will assume the role of executive chairman after exiting as chief executive.
Impax North America president Keefe to retire
Joe Keefe, who has led the group and its precursor since 2005, will be replaced by Ed Farrington, the group's head of distribution.
When fiduciary duty is at odds with what’s right for clients
It's time for the financial services industry to rethink its rules when it comes to offsetting fees.
Cetera goes more RIA-ish by hiring Durbin from Fidelity
It's in the best interest of Cetera's owner, Genstar Capital, to make the broker-dealer network look as much like a registered investment advisor as possible.
Durbin joins Cetera as CEO of parent company
While at Fidelity, Durbin oversaw the company’s 2015 acquisition of eMoney Advisor.
Advisor movement continues to slow, but there’s a bright spot
Despite the broader slowdown in recruiting over the first three months of the year, the RIA and independent broker-dealer channels have continued to bring on experienced advisors at a steady pace.
Finra slaps MassMutual B-D with $250,000 fine for not promptly reporting customer complaints
The disclosures that MML Investors Services delayed making included customer complaints and arbitrations, criminal charges and bankruptcies.
Kate Healy to step down as head of Center for Financial Planning, start new firm
Healy, a long-time executive at TD Ameritrade, was appointed to head the center last summer to lead its efforts to elevate the financial planning profession with programs in diversity and inclusion.
Value exchange runs deeper for independent wealth managers
A successful value exchange requires a demonstration of worth as a matter of consistent policy and procedure to build the trust needed to improve the client’s financial well-being.
10 IBDs with the most CFPs in 2022
As the number of certified financial planners grows, here are the independent broker-dealers who employ the most CFPs.
Advisor Group loses teams with $615 million to Commonwealth, LPL
Trusted Wealth Partners in Omaha, Nebraska, is moving to Commonwealth while Connecticut-based Hedberg Wealth Management is going to LPL.
