Advisor News

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Merrill sharpens ultra-high-net-worth focus with new advisory group
WIREHOUSES JAN 08, 2025
Merrill sharpens ultra-high-net-worth focus with new advisory group

Roughly two dozen specialists to support Merrill Wealth Management advisors on alts, custom asset allocation, specialized lending, and more complex services for elite clients.

By Leo Almazora
After 15 years of stealthy growth, $47B Benjamin F. Edwards opens 100th location
RIA NEWS JAN 08, 2025
After 15 years of stealthy growth, $47B Benjamin F. Edwards opens 100th location

With roots going back more than 130 years, the privately held hybrid RIA based in Missouri is looking forward to continued independence.

By Leo Almazora
Pontera lands another 401(k) partnership with Hightower Advisors
RETIREMENT PLANNING JAN 07, 2025
Pontera lands another 401(k) partnership with Hightower Advisors

The fintech provider's new collaboration will help the $166 billion RIA's advisors holistically manage more of their clients' wealth.

By Leo Almazora
Envestnet's Anur reprises COO role at rival fintech Orion
FINTECH JAN 07, 2025
Envestnet's Anur reprises COO role at rival fintech Orion

The wealth tech veteran brings "deep industry experience and a proven track record" to the new C-suite position at Orion.

By Leo Almazora
Winklevoss twins’ Gemini to pay $5M in CFTC settlement
ALTERNATIVES JAN 07, 2025
Winklevoss twins’ Gemini to pay $5M in CFTC settlement

The agreement puts an end to one of many Biden-era efforts to exert regulatory control over the cryptocurrency space.

By Bloomberg
Aging advisors face a decision: Retire or keep current
OPINION JAN 07, 2025
Aging advisors face a decision: Retire or keep current

For those advisors on Easy Street, it’s time to pass the reins to someone who is on top of their game.

By Scott Hanson
Citi, JPMorgan make key leadership hires
RETIREMENT PLANNING JAN 06, 2025
Citi, JPMorgan make key leadership hires

Citi Wealth unveils new role for fiduciary investment just as JPMorgan's asset management arm welcomes experts to boost retirement business.

By Leo Almazora
PE industry hopeful about 401(k)s in second Trump administration
RETIREMENT PLANNING JAN 06, 2025
PE industry hopeful about 401(k)s in second Trump administration

Private equity is illiquid, hard to value, and expensive. Yet it could be useful within target-date funds, and the industry may be lobbying the Trump administration to get into the 401(k) market meaningfully.

By Emile Hallez
LPL, Raymond James kick off 2025 recruitment with high-net-worth additions
INDEPENDENT BROKER DEALERS JAN 06, 2025
LPL, Raymond James kick off 2025 recruitment with high-net-worth additions

The broker-dealer giants are extending their respective networks in California and Alabama as they each welcome an experienced planning-focused advisor into the fold.

By Leo Almazora
How advisors are finding fixes for retirees squeezed by inflation
RETIREMENT PLANNING JAN 06, 2025
How advisors are finding fixes for retirees squeezed by inflation

Financial advisors are still battling inflation in client accounts despite the Fed's best efforts.

By Gregg Greenberg
Stifel sharpens focus on healthcare, tech deals with strategic acquisition
INDEPENDENT BROKER DEALERS JAN 06, 2025
Stifel sharpens focus on healthcare, tech deals with strategic acquisition

The financial services giant is expanding its investment banking business by snapping up a specialist firm catering to the middle market.

By Leo Almazora
Biden signs Social Security Fairness Act
RETIREMENT PLANNING JAN 06, 2025
Biden signs Social Security Fairness Act

The outgoing president has signed into law the bill aimed at eliminating reductions to Social Security benefits for millions of public-sector workers and beneficiaries.

By Leo Almazora
Verizon, State Street sued over pension-risk transfer to Prudential, RGA
LIFE INSURANCE AND ANNUITIES JAN 02, 2025
Verizon, State Street sued over pension-risk transfer to Prudential, RGA

A $5.9 billion pension liabilities transfer Verizon made last year to Prudential and RGA is at the center of the latest lawsuit over pension-risk transfers.

By Emile Hallez
Finra panel rules Wells Fargo on hook for $3.4 million in claim over elderly client’s account
INDEPENDENT BROKER DEALERS JAN 02, 2025
Finra panel rules Wells Fargo on hook for $3.4 million in claim over elderly client’s account

The firm allegedly missed warning signs linked to stock transfers, one attorney claims.

By Bruce Kelly
Turnover at the top
RIA NEWS JAN 01, 2025
Turnover at the top

2024 saw substantial turnover at the top of the financial advice industry; at least half-a-dozen CEOs were replaced or announced they were leaving

By Bruce Kelly
Rethinking Charitable Giving
OPINION DEC 24, 2024
Rethinking Charitable Giving

Here is how advisors can help make more money and experience greater meaning.

By Derrick Kinney
Social Security Fairness Act awaits Biden's approval
RETIREMENT PLANNING DEC 24, 2024
Social Security Fairness Act awaits Biden's approval

Two long-standing rules "detested" by millions of public-sector workers for the reductions they make to Social Security benefits may soon go away at a cost of $190 billion.

By Emile Hallez
Star Stifel broker in Miami at center of two more client complaints totaling $6M
INDEPENDENT BROKER DEALERS DEC 23, 2024
Star Stifel broker in Miami at center of two more client complaints totaling $6M

Stifel this fall lost a stunning $14.2 million arbitration claim linked to Chuck Roberts.

By Bruce Kelly
Wells Fargo, LPL paying $900K each over incomplete trading data to SEC
INDEPENDENT BROKER DEALERS DEC 20, 2024
Wells Fargo, LPL paying $900K each over incomplete trading data to SEC

The companies admitted the SEC's findings and made remedial efforts to fix their "blue sheet" transaction reporting, the regulator said.

By Emile Hallez
Edward Jones, Osaic, and Cambridge repaying $8.2M in mutual fund charges to clients
INDEPENDENT BROKER DEALERS DEC 20, 2024
Edward Jones, Osaic, and Cambridge repaying $8.2M in mutual fund charges to clients

Finra orders on Friday noted that the companies proactively corrected errors following exams in 2020 that found customers were not properly given rights of reinstatement for mutual fund share purchases.

By Emile Hallez