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Insurers talk big, spend small with diverse asset management firms
The largest American insurance companies have uneven track records with diversity when it comes to selecting asset managers.
NASAA model rules let advisers maintain licenses while out of industry
The move aligns state policy with a Finra initiative that extended the grace from two to five years as long as brokers stay current on continuing education.
Institute for Portfolio Alternatives promotes Anya Coverman to top job
The trade group's new president and CEO previously served as its general counsel.
SEC to probe whether advisers can back up ads in marketing-rule reviews
A risk alert released Monday gives advisers a preview of how the agency will assess compliance with the regulation, which overhauls advertising restrictions for the first time in 60 years.
The latest in financial #AdviserTech — September 2022
VRGL's $15 million Series A round, FMG's acquisition of Vestorly, Farther's funding round and Orion's partnership with Apex Clearing are among the highlights of this month's roundup.
US SIF CEO Lisa Woll to step down
Woll has been the face of one of the most prominent organizations supporting sustainable investing for 16 years.
Advice-only planning exposes what’s wrong with asset-based fee models
The planning industry won't truly distinguish itself from the old-fashioned brokerage industry until it stops linking fees to investment portfolios.
Clients want advice about their Medicare options
Most advisers agree they should be providing health care advice, but they say they need better tools.
Morgan Stanley counting fresh assets in the trillions
After its spate of acquisitions, Morgan Stanley now has relationships with 16.5 million clients, Andy Saperstein, its head of wealth management, points out.
The decline of internal succession in the age of integrators and aggregators
Remember that almost any carefully developed plan is going to be better for your family, employees and clients than to have no plan in place at all.
Wells Fargo plans third-party racial equity audit
The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.
Merrill Lynch boosts CFP Board diversity efforts with $1.25 million donation
The firm becomes a founding sponsor of the Center for Financial Planning, whose mission is to build a more inclusive talent pipeline.
Investors see inflation as top concern
Research from State Street Global Advisors exposes a generational divide when it comes to seeking out financial advice.
New foundation offers startup grant to aspiring women advisers
A new grant to help women launch their own advisory firm is offered by a foundation honoring an adviser who died young
Bank of America forms wealth management banking and lending group
The new organization, which comprises about 3,500 employees, seeks to expand the firm's offerings for affluent clients increasingly sought by rivals.
Goldman plans to eliminate several hundred positions in new round of job cuts
The reductions are a resumption of Goldman’s annual culling cycle that it had largely paused during the pandemic.
How women advisers can create white space for new ideas
Staying busy may seem like the path to success, but without time to reflect, advisers could be using their time and energy on the wrong things.
AmeriFlex RIA acquisition model aims to keep sellers on board
The aggressive startup has plans to acquire more than 300 RIAs within three years, and its model even includes an option to reverse the sale of an RIA.
Tax ‘advice’ more important than ever
Advisers who help business-owner clients steer clear of possible tax traps in coming years will be performing a service unlikely to be forgotten.
SEC orders 9 advisory firms to pay more than $1 million for custody violations
The firms managed private funds and fell short of custody compliance by failing to give investors audited financial statements about the funds.
