SEC updates annuity disclosure rules for RILAs, MVAs
The amendments aimed at fostering a more tailored approach to disclosure for non-variable annuities sparked concerns for one dissenting commissioner.
RayJay amplifies Las Vegas presence with wirehouse superteam
The ensemble joins the broker-dealer giant’s employee advisor channel after managing more than $1B at Morgan Stanley.
EP Wealth scoops $700M Texas practice
The fast-growing RIA boosts its assets in the state past $1B as it welcomes a 23-year planning and investment veteran as its new regional director.
Errant ex-advisor who lost clients almost $2M hit with 10-year prohibition
Former advisor reportedly put his clients in unsuitable private placements and misappropriated part of a senior client’s $675K investment, among other breaches.
LPL lands father-daughter advisor pair from Morgan Stanley
The independent wealth giant adds the two breakaway advisors, who managed roughly $290M at the wirehouse, in Washington DC.
Michael Jackson passed away more than $500M in the red
Court filings by executors of his now $2B estate reveal the King of Pop’s dire financial straits at the time of his death in 2009.
Franklin Templeton extends SMA offerings to UBS platforms
The partnership aims to provide advisors with more opportunities to personalize client portfolios and enhance their after-tax returns.
Follow the rules, ask questions when using gen AI, Finra tells firms
Amid growing use of generative AI and large language models, the regulator is issuing a crucial reminder for its members.
Orion leans into fintech flexibility with new offerings
The wealth tech giant is helping firms “do business as they see fit” with two new additions, including a standalone trading solution launching later this summer.
Advisors’ shuffle away from cash reaches its fifth year
Advyzon research reveals steady decline in advisors’ cash allocations, along with ETFs’ decisive victory over mutual funds.