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U.S. Bank to acquire PFM Asset Management
NEWS INDUSTRY NEWS JUL 09, 2021
U.S. Bank to acquire PFM Asset Management

The addition of the $161 billion manager will bring the bank's assets under management to $325 billion.

Discrimination class action suit filed against BofA, Merrill
YOUR PRACTICE PRACTICE MANAGEMENT JUL 08, 2021
Discrimination class action suit filed against BofA, Merrill

Two former reps say African Americans received less pay, support than others at the firm.

Genstar buys Lovell Minnick’s stake in Foreside
YOUR PRACTICE FINTECH JUL 07, 2021
Genstar buys Lovell Minnick’s stake in Foreside

The Portland, Maine-based tech firm provides governance and risk management solutions to clients in the asset and wealth management industries.

Merrill Lynch rep managing $250 million goes indie with LPL
NEWS BROKER DEALERS JUL 07, 2021
Merrill Lynch rep managing $250 million goes indie with LPL

Joseph Myer has formed Veritas Capital Management in Ashburn, Virginia, and is affiliating with LPL through Gladstone Wealth.

Introducing the 2021 Excellence in Diversity, Equity & Inclusion honorees
YOUR PRACTICE PRACTICE MANAGEMENT JUL 06, 2021
Introducing the 2021 Excellence in Diversity, Equity & Inclusion honorees

InvestmentNews is proud to present our fourth annual Excellence in Diversity, Equity and Inclusion Award individual winners and firm finalists. The 15 individuals and 16 firms are superstars when it comes to boosting awareness of the need and the importance of creating a more diverse financial advice profession.

THE INVESTMENTNEWS PODCAST JUL 06, 2021
Ric Edelman's next move aims to bring advisers into digital assets

Financial planning icon Ric Edelman, who created Edelman Financial Services in 1987 and merged it with Financial Engines in 2018 to create the mammoth Edelman Financial Engines, joins the podcast to share his plans now that he’s stepped down from daily duties at his namesake firm.

AMG acquiring $47 billion ESG manager Parnassus
INVESTING ESG JUL 06, 2021
AMG acquiring $47 billion ESG manager Parnassus

Parnassus Investments will continue to operate independently with CEO and CIO remaining in place.

Failure to supervise risky ETF sales costs Sanctuary $530,000
INVESTING MUTUAL FUNDS JUL 06, 2021
Failure to supervise risky ETF sales costs Sanctuary $530,000

The Indianapolis-based firm, formerly David A. Noyes & Co., agrees to censure, a fine and restitution.

LPL enhances model portfolio tool
YOUR PRACTICE PRACTICE MANAGEMENT JUL 01, 2021
LPL enhances model portfolio tool

The new feature on the IBD's platform lets advisers use a variety of models within a client's portfolio,

Morningstar creates new tools to assess risk tolerance
YOUR PRACTICE FINTECH JUL 01, 2021
Morningstar creates new tools to assess risk tolerance

The company says the tools that are currently available don't focus enough on clients' needs.