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Schwab faces fresh risks in the zero-fee world
NEWS INDUSTRY NEWS APR 14, 2023
Schwab faces fresh risks in the zero-fee world

Schwab's stock plunged 33% in March, in its worst month since 1987, and investors will be looking for signs of the firm's longer-term prognosis when it reports Q1 earnings Monday.

By Bloomberg
People don't get how robos work, and that's a problem, J.D. Power finds
NEWS FINTECH APR 14, 2023
People don't get how robos work, and that's a problem, J.D. Power finds

Demand for robos might be cooling, but many are still interested in them, despite a lack of understanding.

By Emile Hallez
Introducing the 2023 Excellence in Diversity, Equity & Inclusion honorees
NEWS PRACTICE MANAGEMENT APR 14, 2023
Introducing the 2023 Excellence in Diversity, Equity & Inclusion honorees

InvestmentNews is proud to present our sixth annual Excellence in Diversity, Equity and Inclusion Award individual winners and firm finalists. The 15 individuals and 37 firms are superstars when it comes to boosting awareness of the need and the importance of creating a more diverse financial advice profession.

By InvestmentNews
Wells Fargo no longer reports how many financial advisors it employs
NEWS WIREHOUSES APR 14, 2023
Wells Fargo no longer reports how many financial advisors it employs

The company's new policy on head count, made clear in its first-quarter earnings report, aligns with decisions made by Morgan Stanley and Bank of America.

By Ryan W. Neal
TD Ameritrade rushes to calm trading clients amid site outages
NEWS FINTECH APR 14, 2023
TD Ameritrade rushes to calm trading clients amid site outages

Charles Schwab executives had hinted at possible hiccups ahead of the massive account migration coming in September.

By Emile Hallez
Millennium Trust adding retirement plan portability options
NEWS RETIREMENT PLANNING APR 14, 2023
Millennium Trust adding retirement plan portability options

The retirement solutions provider expects the add-on feature to be ready for client testing later this quarter and available to go live in 2024 at no additional cost.

By Gregg Greenberg
Native Women Lead snags big grant
NEWS PRACTICE MANAGEMENT APR 14, 2023
Native Women Lead snags big grant

The funding from the Comcast NBCUniversal Foundation will support the group's work of preparing Native American women for careers in asset management and wealth management.

By Joanne Cleaver
UBS in talks with former executive Naratil about possible return
NEWS PRACTICE MANAGEMENT APR 14, 2023
UBS in talks with former executive Naratil about possible return

Naratil left the bank just six months ago after holding a number of senior positions in almost four decades at UBS, including president of UBS Americas, co-head of wealth management and CFO.

By Bloomberg
SEC approves Finra expungement reform proposal
NEWS REGULATION AND LEGISLATION APR 13, 2023
SEC approves Finra expungement reform proposal

The measure establishes tighter procedures and a special roster of arbitrators to hear brokers' requests to clear their records of customer disputes.

By Mark Schoeff Jr.
To close opportunity gaps, focus on investment education
NEWS OPINION APR 13, 2023
To close opportunity gaps, focus on investment education

Educating Americans about how to participate in capital markets, build wealth and ensure their financial security requires an early start and meeting them where they are.

By Melanie Mortimer
Boomers bite back: Don't blame us for retirement 'Road to Nowhere'!
NEWS RETIREMENT PLANNING APR 13, 2023
Boomers bite back: Don't blame us for retirement 'Road to Nowhere'!

A column warning future generations not to follow baby boomers' lead when it comes to retirement planning elicited a fiery response from boomers.

By Gregg Greenberg
More sponsors open to keeping retiree assets in-plan, Cerulli says
NEWS RETIREMENT PLANNING APR 13, 2023
More sponsors open to keeping retiree assets in-plan, Cerulli says

More than half of 401(k) plan sponsors would prefer to keep retired participants’ assets in their plan rather than having them roll their assets into an IRA or another employer-sponsored plan.

By Gregg Greenberg
$400 million team in Arizona joins LPL from PlanMember Securities
NEWS BROKER DEALERS APR 13, 2023
$400 million team in Arizona joins LPL from PlanMember Securities

Scottsdale-based One2One Wealth Strategies will align with Mariner Advisor Networks, which will provide portfolio consulting and tax services.

By InvestmentNews
Don't discourage potential savers with misleading math
NEWS OPINION APR 12, 2023
Don't discourage potential savers with misleading math

Scolding Americans about lost opportunity only discourages them from starting now to save and invest.

By Joanne Cleaver
Altruist raises $112 million to challenge Schwab, Fidelity
NEWS RIAS APR 12, 2023
Altruist raises $112 million to challenge Schwab, Fidelity

The Los Angeles-based custodian's latest funding round was led by Insight Partners and Adam Street Partners.

By Ryan W. Neal
Rise in inheritances lifting wealth management business, study shows
NEWS RETIREMENT PLANNING APR 12, 2023
Rise in inheritances lifting wealth management business, study shows

Nearly two-thirds of US households are now involved in intergenerational wealth transfer, with growth seen in both wealthy and lower-asset households.

By Gregg Greenberg
Economic realities dampen pace of RIA acquisitions
NEWS RIAS APR 12, 2023
Economic realities dampen pace of RIA acquisitions

This is the first time since 2014 that first-quarter deal volume has declined from the same quarter a year earlier, according to data from DeVoe & Co.

By Jeff Benjamin
Fidelity’s health business booms as Americans pile into HSAs
NEWS RETIREMENT PLANNING APR 12, 2023
Fidelity’s health business booms as Americans pile into HSAs

More than half of consumers say they’ve taken steps to lower health care costs over the last two years, Fidelity reports.

By Gregg Greenberg
Edward Jones advisor managing $330 million jumps to Raymond James
NEWS BROKER DEALERS APR 12, 2023
Edward Jones advisor managing $330 million jumps to Raymond James

William Anderson, who had been affiliated with Edward Jones since 2002, will operate as S.W. Anderson Financial in Salt Lake City.

By InvestmentNews
Tax-loss harvesting produces bumper crop of charitable cash contributions
NEWS RETIREMENT PLANNING APR 11, 2023
Tax-loss harvesting produces bumper crop of charitable cash contributions

Cash donations represented 40% of allocations to donor-advised funds at Vanguard Charitable in the seven months ended in January, up from 29% in the same period a year earlier.

By Mark Schoeff Jr.