Topic: The Practice

Technology

RIAs Have Little to Worry About as SEC Probes Digital Engagement Practices: Exec

September 27, 2021No Comments

Carson Group director of product strategy Andrew Rogers said registered investment advisor firms typically don’t let clients invest directly without advisor input.

Big Wealth Brands Battle for Robo-Investor Attention

September 27, 2021No Comments

Robinhood, Mint and Acorn have high awareness among investors, beating established players like Fidelity and Vanguard, according to Hearts & Wallets.

RIA Consolidation? It's Just Getting Started: Execs

September 24, 2021No Comments

August was the third most-active month for both mergers & acquisition transactions and highest client asset volume since Fidelity Investments began tracking the data in 2016.

So You've Vetted Your Tech Vendor. Do it Again. And Again

September 24, 2021No Comments

Emails and file sharing are potentially the biggest cyber vulnerabilities of many firms, according to one executive.

Burning the Midnight Oil May Cost You in ETF Trading: Vanguard

No Comments

Burning the Midnight Oil May Cost You in ETF Trading: Vanguard

Fees and compensation

FA Ordered to Pay UBS $500K+ Over Promissory Notes

September 27, 2021No Comments

Arbitrators denied Jason Lee Seifert's counterclaims, which included fraudulent inducement, constructive fraud and negligent misrepresentation.

Industry Lobbyists Urge More Time on DOL’s Fiduciary Rule

September 24, 2021No Comments

Sifma, the U.S. Chamber of Commerce and others want an extension of a temporary enforcement policy on exemptions.

State Securities Examiners Find Holes in Firms’ Protection of Seniors

September 23, 2021No Comments

The North American Securities Administrators Association says close to 60% of state-registered investment advisor firms don’t have the proper policies and procedures for preventing the financial exploitation of seniors.

UK-Based Revolut to Roll Out Commission-Free Stock Trades in US

September 23, 2021No Comments

Like Robinhood Financial, Revolut will earn money from payments for order flow.

RIA Firm Fined $389K Over 12b-1 Fee Disclosures, Fund Selection

September 22, 2021No Comments

The Securities and Exchange Commission says Berthel Fisher & Company Financial Services allegedly violated mutual fund share class selection rules from 2014 through March 2018.

Staffing and recruiting

Your Lifeline to Breaking Away: A Compliance Checklist

September 27, 2021No Comments

A lot of preparation goes into launching a business as an independent financial advisor. Here’s a checklist to ensure that you’re ready to open your doors to clients.

Ex-Morgan Stanley FA Loses $4.3M Wrongful Termination Claim

September 27, 2021No Comments

Robert Patrick McCabe, Jr. claimed that he was wrongfully terminated and owed deferred compensation as well as millions in lost earnings and reputation damage.

RIA Consolidation? It's Just Getting Started: Execs

September 24, 2021No Comments

August was the third most-active month for both mergers & acquisition transactions and highest client asset volume since Fidelity Investments began tracking the data in 2016.

Citizens Shopping for Deals to Bulk Up Wealth Biz

September 24, 2021No Comments

The country’s fifth-largest regional bank by assets has come close to making several deals but walked away because of high prices, Bloomberg reports.

Wealth Firms Combine with SPAC to Form $54B Global Shop

September 24, 2021No Comments

After the close of the deal, expected in the first quarter of 2022, Alvarium Tiedemann’s common stock will become publicly traded on Nasdaq.

Regulatory/legal issues

RIAs Have Little to Worry About as SEC Probes Digital Engagement Practices: Exec

September 27, 2021No Comments

Carson Group director of product strategy Andrew Rogers said registered investment advisor firms typically don’t let clients invest directly without advisor input.

Your Lifeline to Breaking Away: A Compliance Checklist

September 27, 2021No Comments

A lot of preparation goes into launching a business as an independent financial advisor. Here’s a checklist to ensure that you’re ready to open your doors to clients.

Vanguard's Weak ESG Chops Putting Client Money at Risk: Report

September 27, 2021No Comments

Vanguard is ignoring the risk climate change poses to its portfolios, and trillions of client dollars are on the line, a new report claims.

Ex-FA with Dozens of Customer Disputes Charged with Fraud

September 27, 2021No Comments

Michael Shillin, who has 44 disclosures on his BrokerCheck record, allegedly made hundreds of thousands of dollars from a variety of schemes involving his clients.

Ex-Morgan Stanley FA Loses $4.3M Wrongful Termination Claim

September 27, 2021No Comments

Robert Patrick McCabe, Jr. claimed that he was wrongfully terminated and owed deferred compensation as well as millions in lost earnings and reputation damage.

Succession planning

RIA Consolidation? It's Just Getting Started: Execs

September 24, 2021No Comments

August was the third most-active month for both mergers & acquisition transactions and highest client asset volume since Fidelity Investments began tracking the data in 2016.

RIA Firms are Either Disruptors or Disrupted, No Middle Ground: Exec

September 23, 2021No Comments

Mergers and acquisitions will be crucial not just to compete but also to stay relevant, according to industry executives.

More FAs Positive on RIA M&A Prospects

September 23, 2021No Comments

Many advisors and financial professionals believe mergers and acquisitions activity will pick up over the next 12 months.

FAs Weigh In: Preparing the Next Generation of Advisors

September 10, 2021No Comments

“It’s our duty as team leaders to help incoming advisors reframe their role and recognize their value,” says Harrison Wallace Financial Group’s Faron Daugs.

LPL Attracts $400M Practice from Cetera

September 8, 2021No Comments

Corpus Christi Financial Group plans to work with LPL to acquire client assets of retiring advisors.

Marketing

Your Lifeline to Breaking Away: A Compliance Checklist

September 27, 2021No Comments

A lot of preparation goes into launching a business as an independent financial advisor. Here’s a checklist to ensure that you’re ready to open your doors to clients.

Big Wealth Brands Battle for Robo-Investor Attention

September 27, 2021No Comments

Robinhood, Mint and Acorn have high awareness among investors, beating established players like Fidelity and Vanguard, according to Hearts & Wallets.

Vanguard's Weak ESG Chops Putting Client Money at Risk: Report

September 27, 2021No Comments

Vanguard is ignoring the risk climate change poses to its portfolios, and trillions of client dollars are on the line, a new report claims.

State Securities Examiners Find Holes in Firms’ Protection of Seniors

September 23, 2021No Comments

The North American Securities Administrators Association says close to 60% of state-registered investment advisor firms don’t have the proper policies and procedures for preventing the financial exploitation of seniors.

SEC Must Clarify — Once and for All — Difference Between Broker and Advisor

September 22, 2021No Comments

XY Planning Network wants the SEC to clarify a provision in the Investment Advisers Act of 1940 and go through with a rule the regulator originally proposed in 2007.