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.
The Portland, Maine-based tech firm provides governance and risk management solutions to clients in the asset and wealth management industries.
To avoid data inefficiency, alternative managers must take a tech-led approach to meet the evolving needs of their clients, State Street says.
As robos have become increasingly popular, their automated investing choices have come under greater scrutiny.
The same week that Finra levied a record $70 million penalty against the online trading app, Robinhood filed for an IPO Thursday, becoming one of the year's most high-profile listings.
The company said the SEC is looking at disclosures around the Schwab Intelligent Portfolios product, which had $64 billion in client assets at the end of March.
Together, DACFP and InvestmentNews will be providing subscribers with content and educational opportunities to increase your knowledge about blockchain and digital assets, and access to the product and service providers in that ecosystem, so you can give investors the advice, products and services they need.
The company says the tools that are currently available don't focus enough on clients' needs.
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.
Robinhood's growing cryptocurrency business, which now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the Securities and Exchange Commission, a source says.
The veteran adviser tech executive held the post for two years.
Betterment surveyed 1,500 investors to analyze which pandemic-fueled behaviors are likely to continue, like day trading and meme stocks.
Fidelity launched a new brokerage account in May for 13- to 17-year-olds, but the larger focus should be on education, not access to the markets.
The advice site that provides leads to advisers is now valued at $1 billion-plus.
