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Finra fines Edward Jones $1.1 million over bungled phone records
The firm used two locations to store phone records, which caused a confused response to Finra document requests in investigations, according to the regulator.
Spouting Rock to acquire Stewart Asset Management
The existing Stewart investment team, including founder-strategist Bill Stewart, will stay on after the acquisition.
Edelman acquires $210 million California RIA
Erman Retirement Advisory, which was founded in 2000 by Howard Erman, serves more than 200 clients.
Managers stop calling some assets ESG ahead of SEC rules
Anti-greenwashing proposals are already having an effect, results of a US SIF survey suggest.
Advisory firm valuations are dropping
Falling markets are cutting firms' revenue tied to AUM at the same time rising interest rates are making it more expensive for buyers to finance deals.
The latest in financial #AdviserTech — December 2022
This month’s highlights include Savvy Wealth’s $11 million funding round to enter the realm of tech-enabled RIAs, along with DPL Partners’ new adviser-matching solution and InvestCloud’s Advisor Connect solution.
Survey shows more employees contributing to retirement plans, receiving matches
A PSCA study shows plan participant and employer contribution rates in 2021 combined to produce an average savings rate of 13.9% of pay, an all-time high.
5 biggest crypto hacks of 2022
The money pouring into digital assets has attracted the attention of criminals.
Former broker, insurance agent arrested in California on fraud charges
Gautam Arora allegedly defrauded four victims out of $100,000 to secure investments that didn't exist.
J.P. Morgan partners with cash management platform Trovata
Trovata will host the Morgan Money corporate investing and trading solutions.
Americans close to retirement get good news on 4% rule
With the outlook improving for stocks and bonds next year, the percentage of a nest egg that retirees can safely start withdrawing from savings has increased to 3.8% from 3.3% in 2021, according to a Morningstar report.
Stifel adviser managing $200 million joins Raymond James team
Howard Kaplan is affiliating through indie Riegel Financial in Ohio.
CFP Board to launch review of competency standards for credential
The panel will conduct the first comprehensive assessment of the education, examination, experience and continuing education requirements related to the CFP mark.
Morningstar adds Luma annuity technology to Advisor Workstation
The new annuity functionality will help advisers using Morningstar's workstations manage annuity transactions for their clients.
Goldman plans to slash hundreds of more jobs
Chief Executive Officer David Solomon has said he’s dialing back the firm’s ambitions for consumer banking.
An adviser who zooms in on OnlyFans stars
Jessica Goedtel is building an advisory practice where people who earn a living via online platforms like OnlyFans feel welcome.
Hightower Bellevue merges with local $350 million RIA
Sovereign Wealth Advisors has been providing wealth management and financial guidance across the Pacific Northwest for more than 30 years.
FPA leader calls title protection top advocacy priority for years to come
The organization representing financial planners wants to obtain legal recognition of the profession, a process that could involve a long, winding road through state and federal legislatures.
5 retirement planning resolutions for advisers in 2023
The new year presents an opportunity for advisers to encourage clients to focus on key retirement priorities.
Inflation, bear market means donors need to dig deep, says Morgan Stanley Foundation president
The president of the Morgan Stanley Foundation says the current uncertain economic environment is a challenge for many individuals and families, and of course for nonprofits as well.
