Who deserves to service and monetize the participants? The answer to that is whoever works the hardest, within the limits of the law, in a professional, conflict-free manner.
The agency's risk alert highlights problems that it found in examinations of more than 100 advisers who served as portfolio managers or sponsors of wrap-fee programs or who advised their clients’ accounts through third-party wrap managers.
Cash spreads are certainly nothing new, but with almost $64 billion in assets, Charles Schwab & Co. is likely the largest robo-adviser to hold significant chunks of client assets in cash.
Empower is already the second-biggest U.S. plan provider by number of participants, behind Fidelity. The deal will add $314 billion in assets among 4,300 plans, boosting Empower's size to $1.4 trillion among 71,000 plans.
The Republican SEC commissioner's doubts provide ammunition to those who want to push back against mandatory disclosures.
Former Voya, Nuveen exec Mike De Feo will head the company’s new business line.
The latest cash influx adds to more than $42 million in prior funding rounds and seed capital. Vestwell will also be a retirement plan record keeper available through Morgan Stanley’s workplace business.
The SEC chairman made it clear that digital assets that mirror the performance of Amazon.com, Tesla and other well-known companies are probably still covered by U.S. securities laws.
Minding the "s" means recognizing the impact disgruntled employees or suppliers can have on reputations and business operations.
The pandemic has created concerns about retirement security among millennials and Gen Xers.
The acquisition will leave Empower with a $1.4 trillion defined-contribution business with about 71,000 plans.
The bill, which was written by Senate Finance Chairman Ron Wyden, D-Ore., would limit the benefit to individuals earning less than $400,000 a year.
The robo-adviser has experienced rapid growth over the last 12 months, reaching its first $500 million in assets under management in March with 26,640 users on the platform.
Four reps from Merrill Lynch join Janney, along with six advisers in two groups from Wells Fargo.
UBS in the Americas appears to be focusing on recruiting giant teams of private banking advisers as it continues to see experienced advisers walk to competitors.
Los Angeles-based PBC Private Wealth will use LPL’s strategic wealth services, a unit that supports breakaways.
The acquired business was the pension administration arm of Friedman, a New York-based CPA firm.
The upstarts will focus on a particular niche of the marketplace they feel is underserved, such as advisers with foreign clients or advisers focused on a particular investment approach.
The wealth management business saw $25 billion of inflows of net new fee-generating assets across all regions and also made $7 billion in net new loans to rich clients in the quarter.
Rothschild made a quiet exit from the firm as Apex beefs up its leadership team with a new chief technology and chief marketing officer.
