Latest News


  • News
  • February 23, 2021

Former TD Ameritrade exec to head innovation for Fed

Sunayna Tuteja will assume a new role as the central bank’s chief innovation officer.

  • News
  • February 23, 2021

Principal launches strategic review after settlement with Elliott

The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.

  • News
  • February 23, 2021

Wells Fargo Asset Management sold to private equity for $2.1 billion

Nico Marais will stay on as CEO of the $603 billion business after the sale to GTCR and Reverence Capital Partners, while there will be fresh faces on the board.

  • News
  • February 22, 2021

Rockefeller nabs $450 million Merrill Lynch team

The pair of advisers in Denver marks the registered investment advisory firm’s first foray into Colorado.

  • News
  • February 22, 2021

Mixing target-dates with other funds linked with higher savings

Savers who invest in individual funds outside of their target-dates are generally better off not because of superior investment acumens – they’re just better at putting money into their accounts.

  • News
  • February 22, 2021

Apex Clearing to go public via SPAC in $4.7 billion deal

Apex Clearing is the latest wealthtech company to go public via blank-check merger, following in the footsteps of SoFi and MoneyLion

  • News
  • February 22, 2021

Where financial advisers sit on the $15 minimum wage divide

Ther debate over doubling the federal minimum wage pits economic principles against politics. From a payroll perspective, financial services is generally not expected to be impacted by a minimum wage hike, but the economy at large could be.

  • News
  • February 22, 2021

SEC obtains judgment against $4 million Ponzi schemer

Former adviser James Booth also pleads guilty in criminal case.

  • News
  • February 22, 2021

Adviser managing $315 million at Wells Fargo goes indie with LPL

Richard Pakes starts CVG Wealth Management in Santa Barbara, California

The unquenchable thirst for wealth management

With M&A in the RIA space setting records, the focus turns naturally to the seemingly irreversible influence of private equity money.

  • News
  • February 19, 2021

401(k) lawsuit update: 2 dismissals, 2 settlements

Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.

  • News
  • February 19, 2021

GameStop hearing underlines partisan divide on legislative action

The atmospherics suggested that if bills emerge, they will have a difficult path through the narrowly divided House and Senate.

Attracting Next Gen clients will require advisers heed three trends

Tech-driven personalization, enhanced user experiences, and ESG served as key themes during InvestmentNews’ inaugural Next Gen Summit.

  • News
  • February 19, 2021

Ex-Janney broker stole $400,000 from clients to pay gambling debt: Feds

The broker transferred funds from the investment account of a couple whose portfolio he managed directly into bank accounts he controlled, according to the Department of Justice.

  • News
  • February 19, 2021

Larry Kudlow joins The Bahnsen Group as an adviser

Firm head and former Trump economic adviser share ‘love of free markets’

Advisers agree: It’s time to stop ignoring Bitcoin

Bitcoin's rally and an increase in institutional adoption amplify the need for advisers to educate themselves on cryptocurrencies.

  • News
  • February 18, 2021

Robinhood, Citadel CEOs spar with lawmakers over retail trading

At a Financial Services Committee hearing, House Democrats pressed the leaders of Robinhood and Citadel on whether they're profiting at the expense of retail investors

  • News
  • February 18, 2021

Warren presses Finra to review whether forced arbitration harms Robinhood customers

'Investors harmed by Robinhood’s trading restrictions should be able to argue their case in court, rather than in closed-door proceedings that are too often rigged against claimants,' Warren wrote in a letter to Finra CEO Robert W. Cook.

  • News
  • February 18, 2021

Two FiNet teams managing $1.06 billion move to Raymond James

A group with seven advisers in West Virginia and a solo adviser in Ohio switch affiliations.

  • News
  • February 18, 2021

401(k) savings went up in 2020, but so did retirement worries

Despite new figures showing higher savings rates and account balances, just over half of people said they are worried about how the pandemic will affect their financial security in retirement.