Advisor News

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Morgan Stanley courted AML risks as it wooed wealthy clients, says WSJ report
WIREHOUSES NOV 26, 2024
Morgan Stanley courted AML risks as it wooed wealthy clients, says WSJ report

Amid its aggressive global push, lax procedures at the firm led to one-fourth of international accounts being flagged as high-risk for money laundering, according to a 2023 document.

By Leo Almazora
40-year-old Boston BD closes doors after losing investor complaint
INDEPENDENT BROKER DEALERS NOV 26, 2024
40-year-old Boston BD closes doors after losing investor complaint

Ages Financial Services had about 60 financial advisors registered under its roof.

By Bruce Kelly
Annuity sales keep rocketing as FIA and RILA records propel growth
RETIREMENT PLANNING NOV 26, 2024
Annuity sales keep rocketing as FIA and RILA records propel growth

Latest Limra figures reveal 30 percent annual bump in total annuity sales for the third quarter, with double-digit increases across all product lines.

By Leo Almazora
Citi taps BlackRock alum Kate Moore as wealth CIO
WIREHOUSES NOV 26, 2024
Citi taps BlackRock alum Kate Moore as wealth CIO

The financial industry veteran will be taking over a broad mandate, including developing investment strategies and overseeing multiple groups across Citi's wealth business.

By Leo Almazora
Former Wells Fargo exec Brendan Krebs emerges at PNC
WIREHOUSES NOV 26, 2024
Former Wells Fargo exec Brendan Krebs emerges at PNC

The 25-year industry veteran previously in charge of the Wall Street bank's advisor recruitment efforts is now fulfilling a similar role at a rival firm.

By Leo Almazora
Ramaswamy's Strive rolls out direct indexing on Fidelity, Schwab platforms
FINTECH NOV 26, 2024
Ramaswamy's Strive rolls out direct indexing on Fidelity, Schwab platforms

The $1.8 billion "anti-woke" firm, enabled by a partnership with Vestmark, is giving investors a new means to achieve tax-optimized returns with a pro-shareholder approach.

By Leo Almazora
Ken Leech formally charged by SEC, US Attorney's Office
MUTUAL FUNDS NOV 25, 2024
Ken Leech formally charged by SEC, US Attorney's Office

For several years, Leech allegedly favored some clients in trade allocations, at the cost of others, amounting to $600 million, according to the Department of Justice.

By Emile Hallez
UBS bolsters Miami downtown office with Citi, Wells Fargo, and Truist hires
WIREHOUSES NOV 25, 2024
UBS bolsters Miami downtown office with Citi, Wells Fargo, and Truist hires

The firm is making headway in the Florida wealth market with four wirehouse advisors who collectively oversaw nearly $2 billion at their former firms.

By Leo Almazora
Fintech firm Boosted.ai secures fresh $15M funding
FINTECH NOV 25, 2024
Fintech firm Boosted.ai secures fresh $15M funding

The wealth tech provider's latest financing will go towards growing its agentic AI platform across wealth managers, family offices and other firms across the industry.

By Leo Almazora
Raymond James swipes $514M trio from Morgan Stanley
INDEPENDENT BROKER DEALERS NOV 25, 2024
Raymond James swipes $514M trio from Morgan Stanley

The broker-dealer behemoth extends its footprint further in Florida as it adds the former wirehouse group, including a father-son duo, to its employee advisor division.

By Leo Almazora
Robinhood's Gallagher bows out of race for SEC Chair position
REGULATION AND LEGISLATION NOV 25, 2024
Robinhood's Gallagher bows out of race for SEC Chair position

The top lawyer who helped the retail trading giant navigate the meme-stock frenzy's fallout has removed himself from President-elect Trump's list of prospective nominees.

By Bloomberg
The power of cultivating personal connections
OPINION NOV 22, 2024
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

By Kristine McManus
A variety of succession options
OPINION NOV 22, 2024
A variety of succession options

Whichever path you go down, act now while you're still in control.

By Scott Hanson
LPL raises target for advisors’ bonuses for first time in a decade
INDEPENDENT BROKER DEALERS NOV 22, 2024
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

By Bruce Kelly
What do older Americans have to say about long-term care?
RETIREMENT PLANNING NOV 22, 2024
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

By Leo Almazora
iCapital bolsters model portfolio suite with new private market offering
ALTERNATIVES NOV 22, 2024
iCapital bolsters model portfolio suite with new private market offering

The alternative fintech firm's latest addition provides advisors exposure to fast-growing private companies.

By Leo Almazora
Broker was barred, then allegedly siphoned cash from senior’s account
INDEPENDENT BROKER DEALERS NOV 22, 2024
Broker was barred, then allegedly siphoned cash from senior’s account

“After learning about a bad actor who is barred, the securities industry should have a responsibility to put clients on notice,” one lawyer said.

By Bruce Kelly
As Nvidia goes, so goes the market, and financial Advisors
EQUITIES NOV 22, 2024
As Nvidia goes, so goes the market, and financial Advisors

Wealth managers weigh in on the chipmaker's influence over the greater market in the wake of its earnings report.

By Gregg Greenberg
Expecting small-cap or energy boom from Trump? Don't be so sure.
RIA NEWS NOV 22, 2024
Expecting small-cap or energy boom from Trump? Don't be so sure.

Much as observers predicted strong returns for domestic small-cap value and the energy sector ahead of Trump's first term, the same enthusiastic assumptions this time around may be too simplistic, panelists at the Charles Schwab Impact conference said.

By Emile Hallez
BofA bags veteran $7B superteam from Citi in Florida
WIREHOUSES NOV 22, 2024
BofA bags veteran $7B superteam from Citi in Florida

The newest additions to Bank of America Private Bank bring more than half a century of cumulative experience, including previous roles at JPMorgan.

By Leo Almazora