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See It Be It Role Model: Carlos Muñoz 
PRACTICE MANAGEMENT APR 15, 2022
See It Be It Role Model: Carlos Muñoz 

Carlos Muñoz, who leads the Morgan Stanley team that manages relationships with asset management firms, also heads the Equity Collective, an initiative at the firm that aims to develop the next generation of diverse leaders.

Advisers searching for new and diverse talent should cast a wider net
RIAS APR 15, 2022
Advisers searching for new and diverse talent should cast a wider net

Building a more diverse workforce solves multiple challenges currently facing the wealth management industry.

Revenue per rep rises but head count slips at Wells Fargo Advisors
PRACTICE MANAGEMENT APR 14, 2022
Revenue per rep rises but head count slips at Wells Fargo Advisors

Annualized revenue per adviser, a key industry metric, was $1.22 million at the end of March, up 4.3% from the end of last year.

Wells Fargo rolls out new racial equity initiative amid scrutiny
PRACTICE MANAGEMENT APR 14, 2022
Wells Fargo rolls out new racial equity initiative amid scrutiny

The firm announced a $210 million effort to help minority families refinance mortgages.

Advisor360 upgrades new-account processing
FINTECH APR 13, 2022
Advisor360 upgrades new-account processing

Automated Document Bundling detects, enriches and batches new-account documents.

First Republic keeps hiring
PRACTICE MANAGEMENT APR 13, 2022
First Republic keeps hiring

The bank's wealth management group, a destination for wirehouse brokers for the past decade, has recruited three teams so far in 2022.

Creative Planning adds $644 million in Keystone Wealth Partners deal
RIAS APR 12, 2022
Creative Planning adds $644 million in Keystone Wealth Partners deal

Keystone's team-based approach is described as having sealed the deal; the firm's 29 employees include advisers, attorneys and CPAs.

Envestnet embraces remote work in move from Chicago
FINTECH APR 12, 2022
Envestnet embraces remote work in move from Chicago

The 23-year-old management software company is moving its headquarters to Berwyn, Pennsylvania, while offering employees 'maximum flexibility.'

Trade associations raise concerns about SEC’s cybersecurity proposal
FINTECH APR 11, 2022
Trade associations raise concerns about SEC’s cybersecurity proposal

Investment Adviser Association, American Securities Association say advisers need more than 48 hours to report breaches to SEC.

NYC won’t open Wells Fargo accounts over racial disparities
PRACTICE MANAGEMENT APR 09, 2022
NYC won’t open Wells Fargo accounts over racial disparities

The bank approved Black homeowners seeking to refinance mortgages in the pandemic at a far lower rate than white ones.

Turn leads into clients with this irresistible marketing strategy
OPINION APR 08, 2022
Turn leads into clients with this irresistible marketing strategy

Here are 5 steps that need to be considered when making potential clients an offer they can't refuse.

Why women make great financial advisers
OPINION APR 08, 2022
Why women make great financial advisers

Women's emotional and social competencies are essential for financial advisers, who often have to have tough conversations with clients and handle delicate situations.

Finra smacks National Securities with $663,000 penalty over private placement
ALTERNATIVES APR 08, 2022
Finra smacks National Securities with $663,000 penalty over private placement

The agency said Boca Raton, Florida-based National Securities deceived investors in December 2017 and January 2018 about the price of shares in the private placement offering.

Made a killing in crypto? Your tax bill is coming due
ALTERNATIVES APR 07, 2022
Made a killing in crypto? Your tax bill is coming due

Digital tokens like Bitcoin and Ethereum are classified as property by the Internal Revenue Service and taxed like stocks and bonds.

UBS wealth unit launches group focused on inclusive investing
ESG APR 07, 2022
UBS wealth unit launches group focused on inclusive investing

The new team will offer investments that focus on promoting equality, expanding opportunities and improving outcomes for underrepresented or marginalized groups.

Schroders maps out engagement priorities
PRACTICE MANAGEMENT APR 07, 2022
Schroders maps out engagement priorities

The company says it is taking 'a further step forward in sustainability leadership.'

Ellevest raises $53 million in Series B funding
FINTECH APR 07, 2022
Ellevest raises $53 million in Series B funding

The company will use the capital to deepen its offerings and product solutions, and help women reach their money goals.

Pelosi adviser among Biden's nominees for SEC commissioner slots
PRACTICE MANAGEMENT APR 06, 2022
Pelosi adviser among Biden's nominees for SEC commissioner slots

President Joe Biden plans to nominate Jaime Lizarraga, a senior adviser to House Speaker Nancy Pelosi, and Mark Uyeda, who has spent a chunk of his career at the SEC.

Private equity investors take stakes in CAIS, Mather Group
RIAS APR 06, 2022
Private equity investors take stakes in CAIS, Mather Group

The steady flow of PE money into wealth management illustrates the bullish outlook for the industry's fee-based revenue streams.

Finra bars ex-Cetera rep who used clients’ money for own family's investments
PRACTICE MANAGEMENT APR 06, 2022
Finra bars ex-Cetera rep who used clients’ money for own family's investments

The broker, Marianne O'Shee Smith, a 34-year veteran of the securities industry, used $45,100 she had received from three customers, all senior citizens.