Four months after joining the board of directors of RCS Capital, the Cetera CEO is stepping down. The company insisted his resignation was not related to a disagreement.
Now that RCS Capital Corp. has sold its wholesaling business, the cost-cutting can begin in earnest at the 11 broker-dealers with 9,500 advisers who make up its Cetera Financial Group, led by CEO Larry Roth.
Private-equity giant Apollo Management has agreed to pay $25 million for the wholesaling business of broker-dealer holding company RCS Capital (RCAP). In a separate deal, the company's largest shareholder, Nicholas Schorsch, and his partners will receive a huge payday in return for a stake in a new asset management firm that holds the business of ARC.
Commissioner says the agency's recent actions targeting chief compliance officers sends 'troubling message' that leaves them unsure of the extent of their responsibility, especially CCOs at small firms.
Fund giant merges two businesses, expanding definition of “institutional” to include assets from intermediaries such as registered investment advisers and broker-dealers.
Advisers undoubtedly are going to have to deliver some bad news, but not delivering it would be even worse for clients.
Must make it clear that investors come first, not the firms being regulated
WiseBanyan, which markets itself as the first free robo-adviser, has announced it will begin charging clients a fee for a new service.
Insurance firm is debuting its first IOVA as the products are helping prop up overall VA sales.
CEO Bettinger says firm may add mutual funds and individual securities to its Intelligent Portfolios platform.
Many investors have more at stake, and it's not the time for a misstep.
Christy Walton has been dethroned as America's richest woman after it was revealed that she didn't really inherit the bulk of her husband's fortune.
The original robo will leverage the RIA to offer 401(k) clients human advisers, according to Financial Engines president and CEO Lawrence Raffone.
Fixed indexed annuity sales are steadily gaining on those of variable annuities, thanks in large part to continued low interest rates.
With only two months left in the year, there are some tax strategies advisers should consider to reduce their clients' tax bills.
Hit this year could be big as many client portfolios are down and funds project steep distributions.
The firm explains its aggressive M&A strategy and shares its objectives for its newest subsidiary.
Stifel Financial agreed to buy Barclays Plc's U.S. wealth-management business, which has about 180 financial advisers in the U.S. managing $56 billion in total client assets.
Plus, what to expect in 2016 from the SEC on a fiduciary rule and the Labor Department regarding a conflicts rule.
SEC chief says “if at the end of the day, you are depriving retail investors of reliable, reasonably priced advice, you will not have succeeded."
