In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
The fund requires a $500 minimum investment and charges a management fee of 2.75%, with a total expense ratio estimated at 4.22%.
The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.
Research uncovered three ways that investing platforms can foster a more inclusive and accessible environment for those living on a low to moderate income.
After years of consolidation, the platforms that solve the puzzle could win future advisers and their assets. The ones that don’t may find themselves acquired.
Here's a roundup of some of the adviser fintech news you may have missed this week.
It's back to an 'organic plan' for the bank's wealth management business in the United States, says Iqbal Khan, co-president of UBS Global Wealth Management.
When the bank replaced hard drives and servers, it improperly disposed of thousands of devices, compromising the personal data of about 15 million clients.
VRGL's $15 million Series A round, FMG's acquisition of Vestorly, Farther's funding round and Orion's partnership with Apex Clearing are among the highlights of this month's roundup.
UBS participated in the funding round for the provider of direct indexing, which oversees more than $2 billion in assets.
North Carolina’s Bank of Oak Ridge will use Marstone’s platform combined with advice from Detalus Advisors.
The digital platform, myVoyage, integrates account balances in defined-contribution retirement plans with guidance and information about external accounts.
While many were skeptical about Advisor Circle and Ritholtz Wealth's idea for a 'wealth festival,' Future Proof could become the industry's next big event.
63% of retirement plan participants say they have challenges managing their accounts digitally.
A roundup of the week's fintech news includes Cetera's adoption of Broadridge's new digital communications tool, Orion's reorganization and Morningstar's attempt to make sustainable investing more engaging.
Morgan Stanley at Work is rolling out a Corporate Retirement Portal to give its plan advisers a consolidated view of retirement data.
The acquisition of the robo-adviser was the centerpiece of UBS CEO Ralph Hamers' focus on broadening the wirehouse's wealth management offering.
Instead, UBS is purchasing a $69.7 million note that is convertible into Wealthfront shares, an investment that values the robo-adviser at $1.4 billion.
For your Labor Day weekend reading, here are some fintech updates from the past week.
