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Bank of America grants employees shares
Staffers earning up to $500,000 a year will share in a pool of restricted stock, according to a memo from CEO Brian Moynihan.
Schwab sees increasing tech adoption among RIAs
According to data collected from 14,000 RIAs, 80% are using digital client onboarding tools.
Fidelity hopes to bridge the gap between aging advisors and young investors
It stars with a new toolkit to help industry veterans better relate to a universe of potential clients that wants advice on its own terms.
ESG is about quality, not quantity
We have reached a moment of reflection after a period of exuberant expansion.
LPL adds two tech execs from Bank of America
Cory Triolo and Tim Checko are joining the IBD's investor and investment solutions team.
Recruiting takes a hit in 2022, with moves down 5.3% from 2021
On net, the RIA channel gained 1,097 advisors and independent broker-dealers gained 923, while 1,291 advisors on net left wirehouses.
IARs in 10 states, D.C. must complete continuing education by year-end
The CE requirements are the first for investment advisors, who must take 12 credit hours of courses in products and practice as well as ethics.
Business owners altering retirement plans due to inflation, recession fears: Survey
A survey of business owners shows that amid inflationary pressures and economic uncertainty, 43% of those who work with an advisor say they've communicated with their advisor more frequently in the past year.
Tribes place generational wealth in their own hands
Native Americans are gaining economic muscle, and that expands horizons for investors and advisors who want to be part of their rise.
Questioning the SEC’s outsourcing proposal
For advisors who don’t do their homework, the possibility of a regulatory slap on the wrist may be less of a deterrent than a whack in the wallet from aggressive attorneys.
Total number of CFPs hits new high
The CFP Board also reports all-time highs in the number of new women and racially diverse CFPs.
CFP bans use of credential by advisors accused of neglecting, misleading clients
One advisor allegedly recommended unsuitable investments to a client and then failed to monitor her portfolio or meet with her. Another claimed in an ad his retirement program could raise all the money needed for a nest egg in 3 to 5 years.
Zoe Financial referral program evolves into one-stop practice management platform
The Zoe Wealth Platform charges a fee based on advisory assets for everything an RIA needs to work with clients.
Organic asset growth is health
The best-managed RIAs closely monitor growth by measuring net new assets and revenues, both from the addition of new clients as well as existing clients adding to their investment portfolios.
Beware of breaching your fiduciary obligations related to client data
The industry has focused almost exclusively on cybersecurity controls over the past few years, instead of understanding what their core obligations and fiduciary responsibilities are for client data.
Citi summons unproductive remote workers to office for coaching
Most Citigroup staffers are supposed to be in the office three days a week, but if their productivity dips, they can expect to spend more time there.
The latest in financial #AdvisorTech — January 2023
This month’s highlights include Envestnet’s entering the RIA custodial business and Docupace’s launch of an RIA Productivity Toolkit.
First Shair Foundation grant winner envisions practice with multigenerational reach
With an assist from the Lucy Shair Foundation, Valerie Rivera aims to serve clients who are the first in their families to rise to the professional class.
Nominations for DEI awards are now open!
The sixth annual recognition program aims to tell the stories of individuals and firms that implement and advocate for diversity and inclusion within the financial advisory industry.
BNY Mellon to cut about 3% of staff
The bank says costs will be a top priority this year; it also says it's still committed to its digital assets strategy despite the turmoil in crypto markets.
