Marc Rowan, one of Black’s top lieutenants, will succeed him as CEO as part of a governance overhaul that will also eliminate weighted voting rights.
RIAs are gaining market share because the RIA model allows firms to embrace the strategies necessary to serve clients.
Ever since Bitcoin rallied to all-time highs this month, the big question advisers are asking themselves is when will it be suitable to use the cryptocurrency in client portfolios.
The Toronto-based wealth management conglomerate has made 14 U.S. deals in less than a year. The acquisition will be CI’s largest purchase so far, and once completed it will double its total U.S.-based assets to $46.1 billion.
As several recent deals show, such as OneDigital's purchase of Truist's RPA business, banks offer retirement plan advisers a chance to grow their business.
The loan program was aimed at buoying businesses with less than 500 employees; while National Securities surpassed that number of reps and advisers, those were not employees, but rather independent contractors.
The slowdown in March turned out to be just brief bump in the road for buyers and sellers in the wealth management space.
A nonworking wife with no Social Security benefits of her own cannot collect on her husband’s earnings record until he files for his Social Security benefit.
Scott Phelan, Kevin Myers and an assistant switch firms in Atlanta.
Dayton-based Beacon Capital Management also runs a turnkey asset management program.
Ten-year-old Marrs Wealth Management is based in Ames.
Despite warnings of market excess, exchange-traded U.S. equity funds took in $7 billion last week, while the S&P 500 saw its best week since November.
Morgan Stanley boosted its chief executive’s pay 22% to $33 million for 2020, when the Wall Street bank posted its third consecutive year of record earnings and announced two large deals.
An evenly divided Senate might tweak rather than overhaul investment-advice policy, such as the treatment of rollovers, while resisting some tax increases Biden advocated during the election.
Finra is concerned that some reps are receiving federal financial support connected to work they’re doing outside of their brokerage jobs. Its exams are not part of a sweep; they target individual reps who received loans.
Gregory Estes had faced earlier charges of child sexual abuse, which were dismissed. Estes, who has been a registered rep with SA Stone Wealth Management Inc. since 2012, now faces four charges in total.
Fidelity Investments became the latest to register with the Department of Labor as a pooled plan provider. The PEP, which appears to target small businesses, could significantly boost the company’s presence in that market – the bulk of Fidelity’s defined-contribution plan business is with large employers.
After 12 years as president of the division, Kathleen Murphy, 57, will depart this summer; her successor has not yet been named.
Plaintiffs allege excessive fees and other claims against the auto maker and drug company, while a participant in a plan using American Trust as trustee claims a major distribution was made without his permission. The University of Pennsylvania settled a long-running case over its 403(b).
Learning from the lessons of 2020 and taking action to improve their retirement planning should be a key focus for advisers in 2021.
