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SEC proposes new cybersecurity requirements for broker-dealers
FINTECH MAR 15, 2023
SEC proposes new cybersecurity requirements for broker-dealers

The proposal is similar to one the SEC released last year that focuses on investment advisors. The SEC also extended the comment period for the advisor proposal.

Custody newbie Altruist claims No. 3 spot with SSG acquisition
RIAS MAR 15, 2023
Custody newbie Altruist claims No. 3 spot with SSG acquisition

In less than two weeks, Altruist's custody business grows from zero to more than 3,000 RIA clients, with only Schwab and Fidelity having more RIA relationships.

Sticking with WORM may leave advisory firms in the dust
OPINION MAR 15, 2023
Sticking with WORM may leave advisory firms in the dust

The SEC's amendment to rule 17a-4 represents a tremendous opportunity to bring firms' record-keeping systems into the 21st century.

Want more new business? Add subscriptions, AdvicePay says
PRACTICE MANAGEMENT MAR 15, 2023
Want more new business? Add subscriptions, AdvicePay says

About 90% of households don't use financial planners, but offering fee-based services could help win them over, the firm says.

Morgan Stanley partners with OpenAI on internal chatbot for its advisors
FINTECH MAR 15, 2023
Morgan Stanley partners with OpenAI on internal chatbot for its advisors

Answers to advisors' questions will be generated exclusively using Morgan Stanley's library of content and data.

T3 2023: Few firms adopting cybersecurity tools
FINTECH MAR 14, 2023
T3 2023: Few firms adopting cybersecurity tools

Also at this year's conference, MoneyGuide founder Bob Curtis returns with a vision for a new fintech, while executives from Envestnet and Advisor Engine provide updates.

A financial planning lifeline for those caring for people with disabilities
RIAS MAR 13, 2023
A financial planning lifeline for those caring for people with disabilities

Rivent Partners has carved a niche at the intersection of affluence and social programs.

Marketing rule ‘represents balance’ in mandate to back up claims: SEC official
PRACTICE MANAGEMENT MAR 13, 2023
Marketing rule ‘represents balance’ in mandate to back up claims: SEC official

'It doesn’t require literally a bible or book of every single claim made in any ad ever to be retained forever,' Thoreau Bartmann, an SEC counsel, told an Investment Adviser Association conference in Washington.

SEC inquiry targets Edward Jones brokers' use of messaging apps
FINTECH MAR 13, 2023
SEC inquiry targets Edward Jones brokers' use of messaging apps

Keeping tabs on texts and messaging has been difficult for the industry, and fines have been mounting.

Schwab seeks to reassure investors following SVB collapse
PRACTICE MANAGEMENT MAR 13, 2023
Schwab seeks to reassure investors following SVB collapse

The firm says it has sufficient liquidity to handle any volatility and that more than 80% of deposits are insured by the FDIC.

How advisors can avoid their own SVB collapse
OPINION MAR 13, 2023
How advisors can avoid their own SVB collapse

If you’re not paying close attention to ensure that your clients’ cash is safe, you’re ignoring your fiduciary duty.

Stressed and blessed: Women want to talk finances with other women
PRACTICE MANAGEMENT MAR 13, 2023
Stressed and blessed: Women want to talk finances with other women

Women are making headway with their personal financial goals, and they prefer talking with other women about money, a new Fidelity survey shows.

Workplace digital tools: Prohibition alone won’t work
OPINION MAR 10, 2023
Workplace digital tools: Prohibition alone won’t work

The SEC doesn’t care whether advisors or staff are banned from using apps or tools. What’s important to them is that firms fulfill their capture and retention responsibilities.

Payout grids for independent broker-dealers
BROKER DEALERS MAR 10, 2023
Payout grids for independent broker-dealers

See how much brokers earn on sales of various products at 43 independent broker-dealers, according to data the firms provided to InvestmentNews Research.

US SIF names new leader at a precarious time for ESG
PRACTICE MANAGEMENT MAR 09, 2023
US SIF names new leader at a precarious time for ESG

Maria Lettini will take the helm of the influential group as sustainable investing has become a political rallying cry for some state leaders.

Regulators make noise, and advisors lose jobs
BROKER DEALERS MAR 09, 2023
Regulators make noise, and advisors lose jobs

Financial advisors should pay attention to regulators' concerns, since it's often advisors or firm executives who don't follow industry rules to the letter who may be discharged.

Catchlight delivers prospecting fintech to Advisors Excel
RIAS MAR 09, 2023
Catchlight delivers prospecting fintech to Advisors Excel

The firm provides marketing services to more than 500 independent advisors; its affiliated RIA, AE Wealth Management, will make the tool available to its advisors.  

Trading app fined $3M for letting youngsters trade options spreads
FINTECH MAR 09, 2023
Trading app fined $3M for letting youngsters trade options spreads

Webull Financial failed to conduct adequate due diligence on customers, Finra found, but the company did not admit or deny fault.

Fledgling IFP Securities' net capital deficit was an 'accounting error,' CEO says
BROKER DEALERS MAR 09, 2023
Fledgling IFP Securities' net capital deficit was an 'accounting error,' CEO says

CEO Bill Hamm said the net capital deficit of $120,000 shown in IFP's Focus report was the result of accrual accounting.

Purpose just as powerful as profits as a magnet for women: J.P. Morgan's Lemkau
PRACTICE MANAGEMENT MAR 08, 2023
Purpose just as powerful as profits as a magnet for women: J.P. Morgan's Lemkau

Speaking at the American College's Women Working in Wealth conference, the CEO of J.P. Morgan Wealth Management said the firm aims to win clients early and then ease them into ever more personalized advisory services.