Mike Mayo says the payouts to three senior leaders suggest governance risk.
The failure to make adequate disclosures is a violation of federal securities laws, according to the complaint.
New Chief Executive Ted Pick and two others were given the equivalent of a year's compensation.
'Just as we deliver education for 401(k)s, we need to do the same thing in the HSA space … to help plan participants and sponsors understand just how powerful these vehicles can be,' says a financial advisor.
LPL also hit with $40 million charge related to the SEC's ongoing investigation of electronic communications.
At least two banks were dropped from underwriting muni deals since Texas Attorney General Paxton said last week he was probing the energy policies of a group of financial firms.
SEC cracks down on California investment advisor for allegedly defrauding elderly clients.
Safeguard Metals allegedly steered retirees who cashed out of IRAs toward high-markup silver coins
Client assets are up 15%, while cash sweep and certificate balances are down $5.8 billion from the year-ago period.
'Our advisor recruiting has picked up significantly over the last two months, with record numbers of large teams in our pipeline,' CEO Paul Reilly says.
Industry experts give their verdict on the wirehouse’s decision to replace its ‘growth grid’ with a ‘growth award.'
While platforms aren't able to differentiate themselves by their technology, they can profit by providing support services that firms need.
A wide range of financial industry groups are urging the agency to withdraw its most controversial proposals, but even the most reviled likely will avoid major changes.
2024 will bring a fresh look to the wirehouse's leadership.
'Some may call high-impact cases regulation by enforcement,' SEC Chair Gary Gensler said. 'I call it enforcing the laws and the regulations that are on the books.'
The process of moving TD RIAs onto Schwab's platform was 'imperfect,' says CEO Walt Bettinger.
The Marlton, New Jersey-based pair operate Schwartz Financial Services and oversee $175 million in assets.
Total annuity sales increased 21% to $270.6 billion through the first nine months of 2023, Limra reports.
Firms that use a third party that actively allocates investments to the point of market timing can see tremendous attrition when their returns are negative and not aligned with the market.
