But the election of Donald Trump gained those firms back $56 billion in market value, as investors expected a rollback of financial regulations.
Lincoln Investment Planning overcharged certain clients for 7 1/2 years.
The wirehouse said it would lift its ban on charging comissions on retirement accounts, but it's too late to return to the old days.
Republican replaces Michael Piwowar, puts panel at full strength for now
Let's look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management.
The largest U.S. bank agrees to pay $19.5 million to members of class-action lawsuit alleging racial discrimination that's 'uniform and national in scope'
Fears of antagonizing voters ahead of mid-term elections prompts GOP lawmakers to reconsider vote on bill.
The firm advertised the superiority of a hypothetical portfolio that used back-tested quantitative research.
Advisers could leverage these retirement plans to reduce cost, administration and fiduciary liability for clients, and eventually use them as a branding opportunity.
Online brokerages and digital advisers using Apex will be able to open accounts to buy and trade bitcoin for clients.
Threats pose new risks for fiduciaries of employer-sponsored plans.
Though degree programs for financial planning have made gains, professors, students and advisers suggest areas for improvement.
Some advisers fear a reduced pool to service small or complex plans will result.
But asset managers and insurers are shortchanging viable solutions.
With 20 cases filed against them in court, many have obtained dismissals.
They demystify how DC plans work, but resistance remains strong.
IRS ruling affirms one employer's approach to chipping away at employees' mountain of student loan debt.
The tax-advantaged health savings accounts can be a useful way to salt away money.
Labor and Treasury Departments will be asked to review areas such as multiple-employer plans and minimum distributions.
The president argues that the tax break would boost economic growth.
