Recession hangover blurring solid fundamentals, says Schwab big
Sheepish about being bullish, Sonders nonetheless predicts rebound in hiring, investor enthusiasm
New head at RBC custodial unit
Catie Tobin replacing retiring Mike Kavanagh
Adviser trust biz at Schwab reaches $1B milestone
The Charles Schwab Corp. has pushed quietly past a milestone in its dogged attempts to integrate trust services…
Schwab beats estimates, but advisers see drop-off in inflows
Charles Schwab Corp., the largest independent brokerage by client assets, reported a third-quarter profit that beat the average analyst estimate. Net new assets coming into the brokerage's Advisor Services unit tailed off in the third quarter, however.
Wells Fargo picks up Merrill, Morgan reps with $550M
Wells Fargo Advisors has snagged two brokers from Merrill Lynch, and a third from Morgan Stanley Smith Barney.
SEC suit raises disclosure questions for breakaway reps
Do breakaway brokers have to disclose to clients how much they stand to gain by going independent?
TD bulks up 401(k) services for advisers
TD Ameritrade Institutional has rolled out an expanded set of services to help its financial advisers offer unbundled retirement plan solutions
‘Say on pay’ shot down by Finra
Finra's board of governors has agreed to take action on three of seven proxy proposals approved by members in August.
Penson sued in Ponzi case
A court-appointed receiver in a Utah Ponzi case has sued Penson Financial Services Inc., claiming that the firm was complicit in perpetuating the scheme for a clearing client.
Ketchum to SEC: Finra can oversee advisers
In a comment letter posted to the SEC website last week, Richard Ketchum, Finra's chief executive, laid out in some detail what a self-regulatory organization for advisers might look like.