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August 31, 2018

Merrill Lynch Does About-Face on Commission Ban
Starting in October, brokers working retirement accounts will again have access to all brokerage products except annuities.
Wells Fargo Merges Wirehouse and Bank-Based Broker Units
The firm is also looking for an exec to assess possible cost-cutting measures in the new merged unit.
Brokers Should Disclose How Conflicts Are Mitigated, Says Morningstar
Proposed Regulation Best Interest doesn’t encourage anyone to have a robust conflict mitigation strategy, says the firm’s policy research director.
Barred Brokers Implicated in Alleged $287 Million Investment Fraud
SEC had charged a cash-advance company and its CEO with selling unregistered securities through a ring that included barred brokers.
Focus Financial CEO Sees 500 RIAs as Acquisition Targets
Following its July IPO, the company has access to $800 million-plus for acquisitions.
Cetera Introduces Advisor Equity Participation and Succession Planning
The programs are aimed at helping advisors participate in Cetera’s growth and plan the future of their practices.
Vanguard’s Robo Ranked Top of the Class
A new report from Backend Benchmarking says the robo’s strong relative performance and low fees put it ahead of the competition.

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