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How advisors can use technology to seize their opportunity with Gen Z
It's vital for advisors to develop relationships with the next generation of investors and carve out a niche for their business.
Vestwell selected to administer California ABLE program
The digital record keeper is now administering ABLE programs for 20 states.
Betterment lays off 28 as fintechs continue to feel the pinch
The robo-advisor is also reportedly closing its Philadelphia office and subleasing a floor of its New York City office.
Americans lack emergency funds, Edward Jones study shows
A new study shows the rainy day funds of nearly 2 in 5 Americans wouldn't last them longer than a month.
Dynasty Financial, in first-ever acquisition, picks up TruClarity’s breakaway business
Dynasty currently has 35 job openings, and CEO Shirl Penney said TruClarity's people, including CEO Pamela Stross, were a big part of its appeal.
Focus Financial Partners keeps mum about potential sale
CEO Rudy Adolf said nothing about the potential sale during the firm's quarterly earnings call with investors Thursday morning.
Fidelity to hire 4,000 positions by midyear
The firm goes on a hiring binge as rival asset managers trim headcount amid economic uncertainty and softening financial markets.
Sequoia Financial acquires Zeke Capital Advisors in $5 billion deal
The purchase of Berwyn, Pennsylvania-based Zeke will push Sequoia's assets under management to more than $15 billion.
Empower joins group providing portability of retirement savings
The Portability Services Network, a group that includes Alight, Fidelity and Vanguard, aims to automatically transfer retirement plan account balances when workers who've saved less than $5,000 change jobs.
2023 RIA M&A off to sluggish start
The second half of January saw RIA mergers and acquisitions slow down sharply from the first half, according to a report from Fidelity.
SEC proposes expanding advisor custody rule
The agency is considering extending the regulation to cover all assets in a client's portfolio, not just securities and funds.
Vanguard goes against the grain by shuttering alternatives fund
The mega fund complex known for passive strategies is removing two active mutual funds from its lineup.
Retirees remain anxious despite decline in inflation
A survey by the Senior Citizens League shows a majority of older consumers remain skeptical that the 8.7% Social Security COLA for 2023 will keep pace with rising costs this year.
Waiting too long can make your worst fears a reality
The primary reason RIA principals continue to run their own shops, rather than cashing out or offloading day-to-day responsibilities, has to do with fear.
Goldman CEO cites ‘tighter hiring plan’ for 2023
But Solomon cited improved sentiment among CEOs about the possibility of a 'softer economic landing.'
Future generations better not follow boomers down retirement ‘Road to Nowhere’
Statistics show the baby boomers have median retirement savings of just $144,000 — at a time when Americans keep living longer.
Hightower buys Massachusetts RIA with $625 million in AUM
Lexington-based Bickling Financial Services, founded in 1984, has three offices across the state.
Merrill launches new tool allowing advisors to record, share custom videos
The wirehouse's Video Pro guides advisors through creating compliance-approved content for clients and prospects.
Raymond James nabs $680 million team from UBS
The four advisors operate as Momentum Wealth Partners in Akron, Ohio.
Mutual-fund-to-ETF conversions fail to wow investors
More than a third of converted funds have posted net outflows since they made the switch, according to data compiled by Bloomberg.
