Four reps from Merrill Lynch join Janney, along with six advisers in two groups from Wells Fargo.
UBS in the Americas appears to be focusing on recruiting giant teams of private banking advisers as it continues to see experienced advisers walk to competitors.
Los Angeles-based PBC Private Wealth will use LPL’s strategic wealth services, a unit that supports breakaways.
The acquired business was the pension administration arm of Friedman, a New York-based CPA firm.
The upstarts will focus on a particular niche of the marketplace they feel is underserved, such as advisers with foreign clients or advisers focused on a particular investment approach.
The wealth management business saw $25 billion of inflows of net new fee-generating assets across all regions and also made $7 billion in net new loans to rich clients in the quarter.
Rothschild made a quiet exit from the firm as Apex beefs up its leadership team with a new chief technology and chief marketing officer.
Some firms mistakenly trim expenses too aggressively to lower their costs and maximize their earnings to attract buyers. It may seem counterintuitive, but the opposite approach can make a firm more desirable.
Even if participants are automatically enrolled, many said they would also like professional guidance, including advice that goes beyond saving for retirement, J.P. Morgan found in a recent survey.
Investments pegged to market volatility remained in client accounts for up to a year when they were meant to be short-term investments.
Florida-based adviser Scott Jay Matalon was fired from RBC after facing charges of kidnapping, domestic battery and false imprisonment.
One option for advisers starting an RIA is to outsource in one fell swoop such responsibilities as custodial relationships, tech stack design and integration, client billion, tamp solutions and marketing expertise.
The company at the center of this year's meme stock frenzy will market 55 million shares for $38 to $42 each, according to a filing with the SEC.
This month's #AdviserTech roundup includes SmartAsset’s achieving unicorn status, Broadridge acquiring AdvisorStream, and Principal shutting down RobustWealth.
Congress will likely have to provide the legal framework for the SEC to regulate cryptocurrencies more efficiently and is working quickly to shape future regulation.
Koch will pay $4 million in a case alleging excessive record-keeping fees, and Voya reached a confidential agreement in a separate lawsuit. Yum Brands was also sued by a participant who claims he was wrongly classified as an independent contractor and denied retirement benefits.
The switch in the compensation model will arrive silently, via death from a thousand cuts.
With a total of $300 million in funding in a matter of months, the robo-adviser has grown employee head count to over 250 and AUM to $4.5 billion.
The bank, with almost 260,000 employees, will start calling workers back to the office on Sept. 7, a process that will continue through October, according to an internal memo.
Given their limited savings, current low interest rates and the ongoing rise in prices and out-of-pocket health care costs, most boomers need a financial lifeline.
