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With ETFs becoming the darling of investors of all ages, direct indexing looks for opening
RIAS SEP 28, 2022
With ETFs becoming the darling of investors of all ages, direct indexing looks for opening

New Schwab research shows the growing appeal of exchange-traded funds, while raising questions about whether investors are open to direct indexing.

By Jeff Benjamin
CIBC adviser managing $400 million joins Stratos
RIAS SEP 28, 2022
CIBC adviser managing $400 million joins Stratos

Kenneth Gimbel specializes in developing specifically tailored asset management programs for large and complex trusts and investment relationships.

By InvestmentNews
Wedbush Securities hit with $900,000 fine for trading problems
PRACTICE MANAGEMENT SEP 28, 2022
Wedbush Securities hit with $900,000 fine for trading problems

The Los Angeles-based firm has had a history of failing to supervise certain trades that resulted in scrutiny from regulators and penalties.

By Bruce Kelly
UBS nabs Merrill advisers managing $1.3 billion
RIAS SEP 28, 2022
UBS nabs Merrill advisers managing $1.3 billion

Three make the switch in New York City and two will be based in Paramus, New Jersey.

By InvestmentNews
Economic uncertainty not likely to derail charitable donations, survey finds
INDUSTRY NEWS SEP 28, 2022
Economic uncertainty not likely to derail charitable donations, survey finds

More adults say they're likely to increase their giving rather than decrease it, according to the Edward Jones study.

By InvestmentNews
Recharging your brain with a sabbatical
OPINION SEP 28, 2022
Recharging your brain with a sabbatical

Sometimes employees need an exodus from the professional grind that will give them some rest and time for fresh thinking, and even allow them to fulfill pursuits that have nothing to do with work.

By C. Angus Schaal
Wall Street banks hire WhatsApp cops after being hit with big fines
FINTECH SEP 28, 2022
Wall Street banks hire WhatsApp cops after being hit with big fines

In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.

By Bloomberg
Former Northern Trust exec Shundrawn Thomas launches private equity firm
ALTERNATIVES SEP 28, 2022
Former Northern Trust exec Shundrawn Thomas launches private equity firm

Thomas is partnering with former Bank of America credit specialist Anthony Hoye to provide financing to minority and women-led businesses.

By Jeff Benjamin
Wall Street firms hit with $2 billion in fines in WhatsApp probe
FINTECH SEP 27, 2022
Wall Street firms hit with $2 billion in fines in WhatsApp probe

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.

By Bloomberg
$13 billion branch office to leave Raymond James
PRACTICE MANAGEMENT SEP 27, 2022
$13 billion branch office to leave Raymond James

Large branch offices of independent broker-dealers like Concurrent Advisors increasingly are flexing their muscles and either adding on new custodians or spinning off on their own.

By Bruce Kelly
SEC bars Merrill manager out on sick leave
WIREHOUSES SEP 27, 2022
SEC bars Merrill manager out on sick leave

Richard M. Crabtree, who was based in Annapolis, Maryland, began defrauding a client in 2016, according to the agency.

By Bruce Kelly
Medicare Part B premium, IRMAA surcharges to decline in 2023
RETIREMENT PLANNING SEP 27, 2022
Medicare Part B premium, IRMAA surcharges to decline in 2023

The decreases reflect a partial rollback of the big increases in 2022 following a big cut in the cost of a new Alzheimer's drug.

By InvestmentNews
Wall Street firms seen paying historic fine to settle WhatsApp probe
FINTECH SEP 27, 2022
Wall Street firms seen paying historic fine to settle WhatsApp probe

The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.

By Bloomberg
10 advisers managing $2.85 billion join UBS from Merrill
RIAS SEP 27, 2022
10 advisers managing $2.85 billion join UBS from Merrill

The advisers, who work with high- and ultra-high-net-worth families and institutions, join the firm in Washington, D.C.

By InvestmentNews
OneDigital buys $1 billion New Jersey wealth management firm
RIAS SEP 27, 2022
OneDigital buys $1 billion New Jersey wealth management firm

KB Financial Partners and KB Financial Advisory Partners has 28 employees and three offices.

By InvestmentNews
The wrinkles with the SEC’s third-party assurance for emissions
ESG SEP 27, 2022
The wrinkles with the SEC’s third-party assurance for emissions

'Attestation' will lead to more reliable data for investors, but there are hurdles to overcome first.

By Emile Hallez
Less financially stressed employees tend to stick around
RETIREMENT PLANNING SEP 27, 2022
Less financially stressed employees tend to stick around

A report from Bank of America shows financial wellness tools can help companies reduce attrition and attract more qualified employees.

By Gregg Greenberg
SEC files fraud suit against three connected to $100 million deli
REGULATION AND LEGISLATION SEP 26, 2022
SEC files fraud suit against three connected to $100 million deli

Federal prosecutors also accused James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. of artificially inflating the price of two companies through manipulative trading.

By Bloomberg
Insurance benefits seen as useful tool for attracting, retaining employees
RETIREMENT PLANNING SEP 26, 2022
Insurance benefits seen as useful tool for attracting, retaining employees

Limra estimates 86 million employees could have access to new insurance benefits within 2 years.

By InvestmentNews
Despite a $5.2M YES arb loss, its biggest yet, UBS may keep fighting
ALTERNATIVES SEP 26, 2022
Despite a $5.2M YES arb loss, its biggest yet, UBS may keep fighting

It's been win some, lose some for UBS as it defends its complex options strategy, but lately investors seem to be prevailing more.

By Mark Schoeff Jr.