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Advisors connect rising women philanthropists to their tribes
ESG MAY 26, 2023
Advisors connect rising women philanthropists to their tribes

As Gen X and baby boomer women realize they qualify as philanthropists, new platforms and groups are emerging to equip them with community and context.

Professional advancement a steeplechase for Asian Americans in financial services
PRACTICE MANAGEMENT MAY 26, 2023
Professional advancement a steeplechase for Asian Americans in financial services

For Asian Americans, family culture can both hinder and help advancement.

JPMorgan tells 1,000 First Republic employees they're losing their jobs
PRACTICE MANAGEMENT MAY 25, 2023
JPMorgan tells 1,000 First Republic employees they're losing their jobs

The bank offered full-time or transitional roles to almost 85% of the nearly 7,000 employees still working at First Republic when it collapsed, and told the rest they wouldn't get offers.

InvestCloud interim CEO opens up about fintech's recent leadership changes
FINTECH MAY 25, 2023
InvestCloud interim CEO opens up about fintech's recent leadership changes

Richard Lumb says that while InvestCloud is growing, a different set of skills are needed to take it to the next level.

Retirement Clearinghouse reports data breach
RETIREMENT PLANNING MAY 25, 2023
Retirement Clearinghouse reports data breach

Social Security and account numbers were compromised in a phishing attack, but accounts were not accessed, according to the firm.

Advisor Group is latest B-D to report data breach
FINTECH MAY 25, 2023
Advisor Group is latest B-D to report data breach

The breach involved 'a systems intrusion' at R.R. Donnelley, a third-party vendor that Advisor Group uses for some of its client mailings.

'Ow!' — not 'wow' — drives client change
PRACTICE MANAGEMENT MAY 24, 2023
'Ow!' — not 'wow' — drives client change

The pivot point is salience: the motivational magic that's sparked when a piece of information has immediate relevance to the client's situation or expectations.

Vanguard CEO Buckley tiptoes around ESG, embraces AI
FINTECH MAY 24, 2023
Vanguard CEO Buckley tiptoes around ESG, embraces AI

'ESG funds are not the next great innovation,’ Tim Buckley said at an Investment Company Institute conference. 'They’re a client preference, and we need to treat it as such.'

Ritholtz Wealth files for new robo-advisor
FINTECH MAY 24, 2023
Ritholtz Wealth files for new robo-advisor

The new product, called Good Advice, requires a $15,000 minimum investment and will charge a maximum fee of 50 basis points.

Modernize your service model, both for your next client and your succession plan  
OPINION MAY 24, 2023
Modernize your service model, both for your next client and your succession plan  

You’ll have a tough time acquiring new clients, or eventually selling your firm and retiring, if your service model is stuck back in the '90s.

The latest in financial #AdvisorTech — May 2023
FINTECH MAY 24, 2023
The latest in financial #AdvisorTech — May 2023

This month's highlights include Betterment's $9 million settlement with SEC and whether it points to more SEC scrutiny of RIAs' tax-loss harvesting promises, as well as Altruit's latest fundraising round and GeoWealth's acquisition of First Ascent.

Waning confidence in banks creates opportunity for advisors to manage clients' cash
FINTECH MAY 23, 2023
Waning confidence in banks creates opportunity for advisors to manage clients' cash

Just 59% of households surveyed indicate they're confident about the stability of the banking system, creating a tailwind for fintechs that help advisors offer cash management.

Finra fines 5 brokerages $185,000 for Reg BI, Form CRS violations
PRACTICE MANAGEMENT MAY 23, 2023
Finra fines 5 brokerages $185,000 for Reg BI, Form CRS violations

The actions illustrate Finra’s continuing crackdown on compliance shortcomings related to the conduct standard that was implemented in June 2020.  

Top-earning CEOs at broker-dealers in 2022
BROKER DEALERS MAY 23, 2023
Top-earning CEOs at broker-dealers in 2022

Chief executives at leading brokerage and advisory firms are earning more money than ever. Here are the numbers on last year’s compensation for some of the highest-profile executives.

Orion CEO Eric Clarke announces retirement plans
FINTECH MAY 22, 2023
Orion CEO Eric Clarke announces retirement plans

Clarke informed the company's board of directors that he plans to step down at the end of the year.

Merrill Lynch continues management reshuffle
PRACTICE MANAGEMENT MAY 22, 2023
Merrill Lynch continues management reshuffle

The executive team under Lindsay Hans and Eric Schimpf is taking shape; Ken Correa takes on an expanded role as head of business and client development, while Erik Vatter was named head of advisor development.

Here are the top 3 candidates to replace Gorman as Morgan Stanley CEO
PRACTICE MANAGEMENT MAY 19, 2023
Here are the top 3 candidates to replace Gorman as Morgan Stanley CEO

Andy Saperstein, Ted Pick and Dan Simkowitz are thought to be executives in the running to succeed James Gorman, who says he will step down in the next 12 months.

ESG jobs in finance come with a bigger paycheck, data show
PRACTICE MANAGEMENT MAY 19, 2023
ESG jobs in finance come with a bigger paycheck, data show

Hiring and compensation for industry position with 'ESG' in the title have increased, Revelio Labs found.

Sustainable investing practice brings advisor 'perfect' clients
PRACTICE MANAGEMENT MAY 19, 2023
Sustainable investing practice brings advisor 'perfect' clients

Ninety-eight percent of Eric Souder's clients are invested in socially responsible portfolios he runs that are built with institutional shares of mutual funds.

What keeps these top securities regulators awake at night?
RIAS MAY 19, 2023
What keeps these top securities regulators awake at night?

"I call it B-D/IA arbitrage," Finra's Christopher Kelly said, describing his concern about advisors flouting the boundaries between charging clients fees and commissions.