BNY Mellon Wealth Management's new client prospecting tool is designed to expand initial conversations with investors beyond basic risk assessments. After an investor completes the questionnaire, the tool curates specific recommendations and content customized to the user's answers.
Morningstar jumps into the risk tolerance game at a time when debates around risk methodologies are heating up among competitors. About 31% of investors said they left their adviser because they didn’t understand their risk tolerance, according to Morningstar.
The investment bank was notified of the breach by a vendor that provides account maintenance for the stock plan business. The files did not contain passwords that could be used to access financial accounts, according to a company memo.
The potential action on one of the largest digital investment platforms sheds light on the increasing need for transparency among automated advice providers.
Despite payout rates and branding that suggest higher levels of support, the top brokerage firms are not meeting adviser expectations, according to a recent survey of over 3,000 advisers.
To avoid data inefficiency, alternative managers must take a tech-led approach to meet the evolving needs of their clients, State Street says.
The new name, Digital Assets Council of Financial Professionals, reflects a broader charter to serve every company and all financial advisers, Edelman says.
Ransomware attacks in the U.S. increased 300% in 2020 and cost victims $350 million. Advisers make easy targets because they publicly release AUM and hold some of the most sensitive client data that directly connects to their finances.
The online trading platform will pay a $57 million fine and $12.6 million in restitution to settle a series of alleged failures, from tech outages to misleading information; it is the largest financial penalty ever ordered by Finra.
The controversy over the pop star's right to control her wealth and health has sparked the #FreeBritney movement, created by her fanbase to raise awareness of the fight to release Spears from a 13-year conservatorship.
