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LPL payout inches up as revenue per adviser dips
'Tis the season? LPL points to 'seasonality' to explain the slight bump in the rate of adviser pay in Q2.
Robinhood slashes 23% of workforce; chief product officer departs
The app-based brokerage's reductions were concentrated in operations, marketing and program management functions.
SEC warns brokers, advisers to make ongoing efforts to identify, mitigate conflicts
Among the suggestions for mitigating conflicts are to avoid compensation incentives for selling certain products and to minimize incentives for favoring one type of product or account over another.
Foundation for Financial Planning taps Ben Harrison as chair
BNY Mellon Pershing’s co-head of wealth solutions will serve in the position through 2023.
Kate Healy named to head CFP Board’s Center for Financial Planning
The former TD Ameritrade executive led the company’s Generation Next diversity program.
Wells Fargo resumes using its diverse candidate guidelines
The banking giant completes 6-week review of procedures after ‘fake interviews’ fracas.
Finra proposes 3-year pilot program for remote office inspections
The initiative effectively extends the online supervision of branch and non-branch operations that Finra allowed during the pandemic.
J.P. Morgan hires trio of private bankers in Chicago
The team is joining from Citigroup, where its members had managed more than $2 billion in client assets.
Citigroup plans to hire 500 people for new wealth unit
The division caters to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultra-wealthy.
Policymakers should tailor regulations for small businesses
The SEC's proposed cybersecurity rule is an example of a one-size-fits-all regulation that would significantly affect smaller firms.
Using the Great Resignation to drive gender diversity in the industry
There's a growing pool of women seeking second careers who come from sectors including education and nursing, professions that create skills perfectly suited for wealth management.
Courting clients with cigars and whiskey
Rather than free chicken dinners, Ameriprise's Eric Reinhold prefers the slow burn of bonding with clients over a fine cigar and top-shelf spirits.
Buffalo Bills owner backs startup targeting independent advisory firms
Atlanta-based Bison Wealth provides back-office support for advisory firms in exchange for a share of their revenues.
SEC slaps Aegis Capital with $2.3 million penalty
The firm was charged with inadequately supervising its representatives, who made unsuitable recommendations of structured products.
Latest crop of diversity programs hope to create wider, more welcoming points of entry
Goals include dismantling barriers and creating new ways to reach and invite women and minorities.
National Securities shuts down after 75 years, reps rolled into B. Riley
B. Riley Financial had purchased a large stake in National Securities Corp.'s parent in 2018 and bought the remaining shares last year.
Ken Van Leeuwen works with clients in two underserved niche areas
The adviser targets younger corporate executives and parents whose children have special needs.
Secrets to success for RIAs
Schwab’s annual benchmarking study shows top-performing firms are more likely to use such tools as marketing plans and ideal client profiles.
Raymond James hanging onto RIA assets of shifting advisers: Reilly
Raymond James said that its head count of private client group financial advisers was 8,616 at the end of June, an increase of 203 compared to a year earlier.
SEI launches practice management hub
The asset manager's new resource, Growth Lab, will provide tools to help independent financial advisers with growing their practices and lead generation.
