TIAA settled claims in July from the SEC and New York State. Deloitte was recently sued over its plan, and Aon prevailed in a lawsuit.
Fintech experts say the next disruption could come from out of the blue, and that advisers should avoid embracing tech for tech's sake.
Young advisers recognize technology plays a central role in their value proposition, even as the personal connection they have with clients is the secret sauce.
The firm's trading operation posted a 23% increase in revenue, while its consumer and wealth management business pulled in $2.02 billion, up 16% from a year earlier.
Unlike Bitcoin ETF applications that the regulator has previously blocked, the proposals by ProShares and Invesco are based on futures contracts, and the SEC isn't likely to block them from starting to trade next week.
Claims that crypto is 'untraceable' and the 'perfect tax haven' have been exploded. Those who bought into this mythology have to decide what to do.
The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.
Gen XYZ investors have been the most likely to drop their financial professionals during the pandemic, according to Fidelity Institutional research.
Democratic bills in Congress would codify the Biden administration's proposal, but Republican support is lacking.
Participation in 403(b) plans went up during the pandemic, to over 77% of eligible employees in 2020, compared with less than 77% in 2019 and 72% in 2018, according to PSCA.
The IBD is offering a multiple-employer aggregate program that affiliates can use with small businesses and start-up plans.
In July, Charlie Scharf said that indie brokers were 'underutilized.' In the latest quarter, the number of advisers declined 2.1%.
Morningstar and Plan Administrators Inc. are planning to launch the pooled employer plan early next year, pending a final rule on environmental, social and governance factors from the Department of Labor.
The 64 transactions from July to September make 2021 a record year for deals, and more than half involved sales of firms with $1 billion or more in assets.
The wirehouse made yet another acquisition in the wealth management space last month, this time a retirement plan company with $43 billion in assets.
The new offering, called Pershing X, is headed by Ainslie Simmonds and will enable RIAs to outsource almost all of their practice management needs, like client relationship and investment management tools.
A significant impediment is that experienced retirement plan advisers do not want to work with smaller or start-up plans, because they can't afford the minimum fees these RPAs need to charge.
ESG factors can be financially material, the DOL noted. And when they are not, they can be used in a tie-breaker between similar investments.
DeBoer Financial Group is based in Roseville, California, just a few miles from Allworth.
The broker-dealer cut ties with Eileen Cure in the wake of allegations of racism on social media. She is now part of a small RIA, Wealth Management of Kentucky.
