Independent broker-dealers saw gains in recruiting coveted wirehouse advisers despite the massive disruptions caused by COVID-19. Firms are also building out registered investment advisory platforms to lure advisers.
2020 was the year that independent broker-dealers needed to rely on technology more than ever, with home-office staff and a large number of advisers working from home or in remote offices. What if criminals breach a broker-dealer's cyber wall?
Former Morgan Stanley, Merrill Lynch advisers join Rockefeller in Boca Raton, Florida, and Chicago
The murky track record behind cryptocurrency has kept some skeptical, but both advisers and investors are showing growing interest in the asset class. The popular digital asset, Bitcoin, recent record-breaking rally has slowed, with prices set to finish this week just below $40,000, according to Bloomberg.
Overall, the retirement savings products bled $6.7 billion, marking the first such instance of negative net sales since Morningstar began tracking them in 1994, the ratings and research firm reported this week.
Financial advisers are usually off-limits when it comes to large institutions looking to cut costs and personnel. But Wells Fargo, under CEO Charlie Scharf, has not shied away from laying off advisers or cutting adviser-lead businesses.
The Labor Department's fiduciary rule and the SEC's Reg BI pose a real threat to the retirement savings of investors, but the Biden administration can put an end to the threat.
As scrutiny of the online brokerage mounts and as it prepares for an IPO expected later this year, it has recruited two officials from its front-line regulator.
The bank is reportedly in talks to sell the unit to a private equity consortium led by GTCR and Reverence Capital Partners.
“We need comprehensive capital gains reform,” incoming Senate Finance Committee Chairman Ron Wyden, D-Ore., said. “This is a kitchen-table issue.”
The majority of U.S. households, even those that save and invest diligently, place the bulk of their investible assets in tax-deferred retirement accounts and bank accounts, while ignoring 'middle liquidity' options, the report published by Hearts & Wallets notes.
In a curious development to a strange, twisting tale, Butowsky, managing director of Chapwood Capital Investment Management, offered an apology to the brother of former DNC staffer Seth Rich on Twitter — then deleted the tweet.
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
The asset manager will integrate Clarity AI’s data into the Aladdin tool as social and economic factors push investor appetite for ESG investing. Demand for sustainable investing accelerated last year with global investors in mutual funds and ETFs investing $326 billion in sustainable assets.
Two pairs of advisers in Lincoln, Nebraska, make the move, along with their staffs.
West Texas WealthCare will use JFC Financial as its office of supervisory jurisdiction.
Pooled employer plans, or PEPs, could dramatically change the 401(k) business, but only if employers decide to adopt them.
Financial wellness programs depend on data about what workers need, but employees may have concerns about the privacy of their personal information.
The brokerage said a "hyper-partisan environment" led to its decision to stop contributing to political campaigns. However, the company will continue to lobby lawmakers in Washington.
Walmart announced the launch of a new company designed to offer digitally enabled financial products to its customers and employees. Its 265 million weekly customers makes it an attractive distribution channel to expand investing to underserved investors.
