Succession planning is critical, as advisors 55 and older account for 42 percent of head count but 57 percent of assets, Cerulli found.
The final DOL rule threatens the independent status advisors 'rely on...as they build their businesses,' says FSI CEO Dale Brown.
Industry executive warns it will take time for Pick to earn the trust of advisors.
Firm's tactic 'not only undermined critical investor protections and placed investors at risk, but was also illegal,' says SEC enforcement director.
Congressional negotiators are locked in talks over renewing expired business tax breaks and boosting the child tax credit.
The asset and wealth division helped drive the results, posting its highest quarterly revenue in two years on a gain tied to the sale of its Personal Financial Management unit.
Many advisors are leaving, disillusioned by what they consider prohibitive pay grids and a lack of flexibility.
In one of his last actions as CFP Board chairman, Daniel Moisand testified at last month’s hearings on the Department of Labor’s latest advice proposal.
As the migration to independent broker-dealers and RIAs continues, concerns about the Big Four’s compensation plans may be contributing to the outflow.
Report reveals texting and messaging apps common at RIAs and broker-dealers.
Inflation is still not under control so cuts may be smaller than expected.
The song, 'Paper Right,' is part of the company's Retire Inequality campaign.
'We’ve made significant investments the last few years across our franchise to better serve our customers, and help drive growth,' says Wells CFO Mike Santomassimo.
From Salesforce to eMoney, here are the tools advisors are using to drive growth this year.
'In 2023, a record number of existing Bank of America clients became Merrill clients,' says Eric Schimpf, president and co-head of Merrill Wealth Management. 'We can and will do more here.'
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
The bank said the windfall may continue this year; its earnings also included a $2.9B charge for an FDIC special assessment related to last year's bank failures.
Nascent secondary market is expected to see record pace of activity as investors seek liquidity.
There were far fewer cases filed, but employers and their insurers agreed to big payouts for previously filed litigation.
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
