Advisor News

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UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
WIREHOUSES JUN 04, 2025
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

"We think this happened because of Anderson's age and that he was possibly leaving," said the advisor's attorney.

By Bruce Kelly
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role
INDEPENDENT BROKER DEALERS JUN 04, 2025
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role

The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.

By Leo Almazora
Trump's 'revenge tax' might come back to bite US borrowers, experts say
REGULATION AND LEGISLATION JUN 04, 2025
Trump's 'revenge tax' might come back to bite US borrowers, experts say

Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.

By Bloomberg
RIA moves: EP Wealth, Merit make key Mountain state debuts
RIA NEWS JUN 04, 2025
RIA moves: EP Wealth, Merit make key Mountain state debuts

Torrance, California-based EP Wealth welcomes a $900 million team in Idaho as Merit adds its first office in Utah.

By Leo Almazora
Captrust taps Echelon's Mike Wunderli to lead merger strategy
RIA NEWS JUN 04, 2025
Captrust taps Echelon's Mike Wunderli to lead merger strategy

The $1 trillion RIA is getting serious on inorganic growth as it welcomes the M&A veteran for a dedicated leadership role.

By Leo Almazora
Fed ends Wells Fargo's asset cap restriction, opening long-blocked path to growth
WIREHOUSES JUN 03, 2025
Fed ends Wells Fargo's asset cap restriction, opening long-blocked path to growth

The undoing of the penalty, which has hung over the Wall Street bank for seven years, marks a significant victory for CEO Charlie Scharf.

By Bloomberg
BNY Pershing teases upgrades to boost advisor, investor experience
FINTECH JUN 03, 2025
BNY Pershing teases upgrades to boost advisor, investor experience

The big three custodian is unveiling new reporting features, UMA functionalities, and a new advisor growth network, along with other updates at its flagship conference.

By Leo Almazora
Arizona seeks to strip advisor of license over GPB private placement sales
ALTERNATIVES JUN 03, 2025
Arizona seeks to strip advisor of license over GPB private placement sales

Michael Bradley faces allegations of "improper recommendation to clients" who bought GPB securities.

By Bruce Kelly
Mega-RIA Mariner snaps up sports-focused Taurus Asset Management
RIA NEWS JUN 03, 2025
Mega-RIA Mariner snaps up sports-focused Taurus Asset Management

The RIA behemoth overseeing more than half a trillion dollars in client assets is adding to that book with a $1.4 billion firm focused on pro athletes in New York.

By Leo Almazora
Mercer Advisors lands third-biggest deal to date with Full Sail Capital
RIA NEWS JUN 03, 2025
Mercer Advisors lands third-biggest deal to date with Full Sail Capital

With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.

By Leo Almazora
Fintech bytes: FP Alpha rolls out estate insights feature
FINTECH JUN 03, 2025
Fintech bytes: FP Alpha rolls out estate insights feature

Also, wealth.com enters Commonwealth's tech stack, while Tifin@work announces an expanded partnership.

By Leo Almazora
Morgan Stanley, Atria job cut details emerge
INDEPENDENT BROKER DEALERS JUN 03, 2025
Morgan Stanley, Atria job cut details emerge

Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.

By Bruce Kelly
Federal retirement process goes digital at last
RETIREMENT PLANNING JUN 03, 2025
Federal retirement process goes digital at last

Federal employees will no longer be able to file on paper from next month.

By Bloomberg
Envestnet taps Atria alum Sean Meighan to sharpen RIA focus
FINTECH JUN 02, 2025
Envestnet taps Atria alum Sean Meighan to sharpen RIA focus

The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.

By Leo Almazora
LPL, Evercore welcome West Coast breakaways
INDEPENDENT BROKER DEALERS JUN 02, 2025
LPL, Evercore welcome West Coast breakaways

The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.

By Leo Almazora
Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case
INDEPENDENT BROKER DEALERS JUN 02, 2025
Supreme Court slaps down brokerage's appeal vs. FINRA expulsion case

The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.

By Bloomberg
RIA moves: Arax extends Midwestern reach, Steward Partners debuts in Arizona
RIA NEWS JUN 02, 2025
RIA moves: Arax extends Midwestern reach, Steward Partners debuts in Arizona

Arax acquires a boutique firm's $4 billion RIA business in Michigan as Steward Partners continues its Southwestern expansion.

By Leo Almazora
In this hi-tech world of finance, JPMorgan has an old school strategy to woo HNWs
WIREHOUSES JUN 02, 2025
In this hi-tech world of finance, JPMorgan has an old school strategy to woo HNWs

Wealth management is a key focus for a new service tier.

By Steve Randall
Industry, financial experts sound off after DOL walks back crypto warning for 401(k)s
RETIREMENT PLANNING MAY 30, 2025
Industry, financial experts sound off after DOL walks back crypto warning for 401(k)s

The Labor Department's reversal from its 2022 guidance has drawn approval from crypto advocates – but fiduciaries must still mind their obligations.

By Leo Almazora
Autopilot surges to $750M AUM, touts RIA growth as users copy Pelosi, Buffett trades
FINTECH MAY 30, 2025
Autopilot surges to $750M AUM, touts RIA growth as users copy Pelosi, Buffett trades

With $750 million in assets and plans to hire a RIA Growth Lead, Autopilot is moving beyond retail to court advisors with separately managed accounts and integrations with RIA custodians such as Schwab and Fidelity.

By Andrew Cohen