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Why the ESG backlash has little effect on corporations
OPINION MAY 03, 2023
Why the ESG backlash has little effect on corporations

Politicians' manufactured controversies are having minimal impact in boardrooms.

Goldman Sachs expands to Dallas, joining Wall Street's latest move west
PRACTICE MANAGEMENT MAY 03, 2023
Goldman Sachs expands to Dallas, joining Wall Street's latest move west

The number of finance and insurance jobs in Dallas has surged 33% in the past decade, more than double the national average.

When the going gets tough, the tough get EPIC
OPINION MAY 02, 2023
When the going gets tough, the tough get EPIC

Amid volatile markets, it's important that financial professionals provide clients with Empathy, Perspective, Insights and Choices.

Liz Nesvold joins Cresset as president
RIAS MAY 02, 2023
Liz Nesvold joins Cresset as president

Nesvold is exiting Raymond James to take on an expansive new role at Cresset's $30 billion platform.

Matt Sonnen joins Coldstream Wealth Management as chief operating officer
RIAS MAY 02, 2023
Matt Sonnen joins Coldstream Wealth Management as chief operating officer

Sonnen, founder of consulting firm PFI Advisors, will work on improving Coldstream's back-office operations.

Morgan Stanley planning to eliminate 3,000 employees in fresh round of job cuts
PRACTICE MANAGEMENT MAY 02, 2023
Morgan Stanley planning to eliminate 3,000 employees in fresh round of job cuts

The head count reductions, which are the bank’s second round within six months, will spare wealth management teams, including advisors.

Stifel to pay $3.2 million over former broker's 'predatory sales'
BROKER DEALERS MAY 01, 2023
Stifel to pay $3.2 million over former broker's 'predatory sales'

The firm allegedly failed to supervise Joseph Crespi, whose trading activity prompted 135 internal alerts over 12 months, according to the office of Massachusetts Secretary of the Commonwealth William Galvin.

Ermotti taps UBS veteran Naratil to lead integration of Credit Suisse
PRACTICE MANAGEMENT MAY 01, 2023
Ermotti taps UBS veteran Naratil to lead integration of Credit Suisse

Naratil will become the firm's chief financial officer and lead the division that will oversee the Credit Suisse merger, a Swiss newspaper reports.

Wirehouses feeling the chill of autumn in the air
BROKER DEALERS MAY 01, 2023
Wirehouses feeling the chill of autumn in the air

The giant firms face an approaching winter as they become less prominent in the overall advisory business.

Envestnet introduces product updates, new partnerships at annual conference
RETIREMENT PLANNING APR 28, 2023
Envestnet introduces product updates, new partnerships at annual conference

Improving the digital experience for advisors and clients was a significant theme; Envestnet also announced a partnership with Empower to give advisors easy access to retirement plans.

Envestnet CEO on the company’s recent challenges and the opportunities ahead
RETIREMENT PLANNING APR 27, 2023
Envestnet CEO on the company’s recent challenges and the opportunities ahead

Although its efforts to meld its businesses met with some opposition, the company's revamped platform will provide great returns for users and investors, Bill Crager says.

The superiority of the fee-based compensation model
OPINION APR 26, 2023
The superiority of the fee-based compensation model

The preeminent conflict of the commission-based model is that it forces you to put the pursuit of new clients ahead of serving your existing ones.

BlackRock's Dalia Blass leaves for law firm Sullivan & Cromwell
PRACTICE MANAGEMENT APR 26, 2023
BlackRock's Dalia Blass leaves for law firm Sullivan & Cromwell

Blass, the former head of the SEC's division of investment management, led external affairs at BlackRock for two years.

Schwab's Liz Ann Sonders says return to normal could be a rocky ride
EQUITIES APR 26, 2023
Schwab's Liz Ann Sonders says return to normal could be a rocky ride

Speaking at the Morningstar conference this week, the popular strategist said there are still excesses that need to be wrung out of the economy.

Lumiant acquires longevity and health planning fintech Genivity
FINTECH APR 26, 2023
Lumiant acquires longevity and health planning fintech Genivity

Genivity's core product creates a customized longevity model based on a client's health risks, lifestyle choices and demographics.

Wells Fargo investors overrule board on annual harassment report
PRACTICE MANAGEMENT APR 26, 2023
Wells Fargo investors overrule board on annual harassment report

A majority of the bank's investors voted in favor of a shareholder proposal requesting an annual public report on efforts to prevent harassment and discrimination against employees.

Advisor Group makes rebranding campaign official
BROKER DEALERS APR 26, 2023
Advisor Group makes rebranding campaign official

A new name is forthcoming, and the firm's eight independent broker-dealers will be merged under that new name in 18 months.

Morningstar brings competing model portfolios onto its proprietary platform
FINTECH APR 25, 2023
Morningstar brings competing model portfolios onto its proprietary platform

BlackRock, T. Rowe Price, Fidelity and Clark Capital will get shelf space alongside Morningstar's own models.

Legislation would allow use of 529 funds to finance training for CFP credential
RETIREMENT PLANNING APR 25, 2023
Legislation would allow use of 529 funds to finance training for CFP credential

The American Institute of CPAs is also backing the measure because it would cover expenses related to the CPA exam.

Financial industry CEOs earn more as shareholder returns fall
FINTECH APR 25, 2023
Financial industry CEOs earn more as shareholder returns fall

Higher stock and option awards notched chief executives' pay even higher last year, according to a report from ISS Corporate Solutions.