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INDUSTRY NEWS OCT 16, 2019
Fisher client exodus nears $1 billion in backlash over remarks

The Boston Pension Board said Wednesday it is yanking $248 million that is managed by Fisher Investments.

By Bloomberg
REGULATION AND LEGISLATION OCT 16, 2019
Why are fixed indexed annuities primed for growth?

FIA sales took off shortly after the demise of the DOL fiduciary rule.

By Jamie Hopkins
Wells Fargo takes $1.6B legal charge, dragging 3Q earnings down
INDUSTRY NEWS OCT 15, 2019
Wells Fargo takes $1.6B legal charge, dragging 3Q earnings down

Expense for litigation tied to scandals in Well's retail bank, cuts earnings by 35 cents a share.

By Bloomberg
How far will LPL move amid an industry price war?
INDUSTRY NEWS OCT 15, 2019
How far will LPL move amid an industry price war?

After Schwab and other brokerages cut some commissions to zero, LPL tells brokers it is 'exploring its options.'

By Bruce Kelly
Head count at Wells Fargo Advisors slips, but exits continue to slow
INDUSTRY NEWS OCT 15, 2019
Head count at Wells Fargo Advisors slips, but exits continue to slow

Meanwhile, the wealth management group sees a decline in assets due to net outflows.

By Bruce Kelly
Wells Fargo reps managing $280 million move to Stifel
INDUSTRY NEWS OCT 15, 2019
Wells Fargo reps managing $280 million move to Stifel

Brokers join firm in Macon, Ga., Greensboro, N.C., and Brevard, N.C.

By InvestmentNews
Fidelity is reviewing its ties with Ken Fisher after his comments at conference
INDUSTRY NEWS OCT 15, 2019
Fidelity is reviewing its ties with Ken Fisher after his comments at conference

Fisher Investments manages about $500 million for Fidelity's Strategic Advisers unit

By Bloomberg
Finra panel orders former broker to pay Raymond James almost $1 million
INDUSTRY NEWS OCT 15, 2019
Finra panel orders former broker to pay Raymond James almost $1 million

Arbitrators determine that John Charles Wyshak must pay cost of indemnifying clients.

By InvestmentNews
Bill Gross: The Fixx
OPINION OCT 15, 2019
Bill Gross: The Fixx

The Bond King calls into question the outlook for negative rates.

By Bill Gross
SEC takes aim at second Cetera broker-dealer
REGULATION AND LEGISLATION OCT 15, 2019
SEC takes aim at second Cetera broker-dealer

Commission adds Cetera Advisor Networks to an earlier lawsuit alleging overcharging of funds.

By Bruce Kelly
Securities lawyers call on Finra to halt expungement process
REGULATION AND LEGISLATION OCT 15, 2019
Securities lawyers call on Finra to halt expungement process

PIABA report charges systematic abuse of the procedure for clearing brokers' disciplinary records.

By Mark Schoeff Jr.
Former Woodbridge Group CEO gets 25 years in $1.3 billion fraud
REGULATION AND LEGISLATION OCT 15, 2019
Former Woodbridge Group CEO gets 25 years in $1.3 billion fraud

The scheme caused more than 7,000 retirees and other investors to lose money

By Bloomberg
Medicare 2020 open enrollment begins Tuesday
INDUSTRY NEWS OCT 15, 2019
Medicare 2020 open enrollment begins Tuesday

Retirees can save money by reviewing new Medicare advantage and drug plan options for next year.

By Mary Beth Franklin
Sell but stay, and watch your business grow
OPINION OCT 15, 2019
Sell but stay, and watch your business grow

Joining up with an RIA consolidator allows you to spend your energy on the tasks you enjoy.

By Scott Hanson
INDUSTRY NEWS OCT 15, 2019
Wells Fargo takes $1.6B legal charge, dragging 3Q earnings down

Expense for litigation tied to scandals in Well's retail bank, cuts earnings by 35 cents a share.

By Bloomberg
INDUSTRY NEWS OCT 15, 2019
How far will LPL move amid an industry price war?

After Schwab and other brokerages cut some commissions to zero, LPL tells brokers it is 'exploring its options.'

By Bruce Kelly
INDUSTRY NEWS OCT 15, 2019
Wells Fargo reps managing $280 million move to Stifel

Brokers join firm in Macon, Ga., Greensboro, N.C., and Brevard, N.C.

By InvestmentNews
INDUSTRY NEWS OCT 15, 2019
UBS team managing $990 million moves to Raymond James

Four-advisor group in Bethesda, Md., joins firm's employee unit.

By InvestmentNews
INDUSTRY NEWS OCT 15, 2019
Fidelity is reviewing its ties with Ken Fisher after his comments at conference

Fisher Investments manages about $500 million for Fidelity's Strategic Advisers unit

By Bloomberg
REGULATION AND LEGISLATION OCT 15, 2019
SEC takes aim at second Cetera broker-dealer

Commission adds Cetera Advisor Networks to an earlier lawsuit alleging overcharging of funds.

By Bruce Kelly