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Total number of CFPs hits new high
PRACTICE MANAGEMENT JAN 19, 2023
Total number of CFPs hits new high

The CFP Board also reports all-time highs in the number of new women and racially diverse CFPs.

Principal partners with YieldX, Smartleaf on fixed-income direct indexing
FINTECH JAN 18, 2023
Principal partners with YieldX, Smartleaf on fixed-income direct indexing

Other direct indexing products have avoided the fixed-income space because it has a different liquidity profile and requires going directly to dealers.

CFP bans use of credential by advisors accused of neglecting, misleading clients
PRACTICE MANAGEMENT JAN 18, 2023
CFP bans use of credential by advisors accused of neglecting, misleading clients

One advisor allegedly recommended unsuitable investments to a client and then failed to monitor her portfolio or meet with her. Another claimed in an ad his retirement program could raise all the money needed for a nest egg in 3 to 5 years.

Zoe Financial referral program evolves into one-stop practice management platform
RIAS JAN 18, 2023
Zoe Financial referral program evolves into one-stop practice management platform

The Zoe Wealth Platform charges a fee based on advisory assets for everything an RIA needs to work with clients.

Organic asset growth is health
OPINION JAN 18, 2023
Organic asset growth is health

The best-managed RIAs closely monitor growth by measuring net new assets and revenues, both from the addition of new clients as well as existing clients adding to their investment portfolios.

Beware of breaching your fiduciary obligations related to client data
OPINION JAN 18, 2023
Beware of breaching your fiduciary obligations related to client data

The industry has focused almost exclusively on cybersecurity controls over the past few years, instead of understanding what their core obligations and fiduciary responsibilities are for client data.

Citi summons unproductive remote workers to office for coaching
PRACTICE MANAGEMENT JAN 18, 2023
Citi summons unproductive remote workers to office for coaching

Most Citigroup staffers are supposed to be in the office three days a week, but if their productivity dips, they can expect to spend more time there.

The AI revolution is here
FINTECH JAN 17, 2023
The AI revolution is here

Can ChatGPT give good financial advice? InvestmentNews fed the algorithm questions to see how its AI stacks up.

The latest in financial #AdvisorTech — January 2023
FINTECH JAN 17, 2023
The latest in financial #AdvisorTech — January 2023

This month’s highlights include Envestnet’s entering the RIA custodial business and Docupace’s launch of an RIA Productivity Toolkit.

First Shair Foundation grant winner envisions practice with multigenerational reach
PRACTICE MANAGEMENT JAN 17, 2023
First Shair Foundation grant winner envisions practice with multigenerational reach

With an assist from the Lucy Shair Foundation, Valerie Rivera aims to serve clients who are the first in their families to rise to the professional class.

Nominations for DEI awards are now open!
PRACTICE MANAGEMENT JAN 14, 2023
Nominations for DEI awards are now open!

The sixth annual recognition program aims to tell the stories of individuals and firms that implement and advocate for diversity and inclusion within the financial advisory industry.

BNY Mellon to cut about 3% of staff
ALTERNATIVES JAN 13, 2023
BNY Mellon to cut about 3% of staff

The bank says costs will be a top priority this year; it also says it's still committed to its digital assets strategy despite the turmoil in crypto markets.

Fintech Bytes: Riskalyze lands AE Wealth; 55ip partners with Frontier; Advisor360 acquires wealthtech
FINTECH JAN 13, 2023
Fintech Bytes: Riskalyze lands AE Wealth; 55ip partners with Frontier; Advisor360 acquires wealthtech

Plus Brad Weber gets Savvy, iCapital adds 100 to its tech team, and Richr launches an advisory service.

Wells Fargo Advisors ended 2022 with stable advisor head count
PRACTICE MANAGEMENT JAN 13, 2023
Wells Fargo Advisors ended 2022 with stable advisor head count

Advisors at Wells Fargo have been under a cloud since 2016, when the bank's fake-account scandal erupted.

How caregiving costs women their retirement security
PRACTICE MANAGEMENT JAN 13, 2023
How caregiving costs women their retirement security

What women need is richer context about the implications of financial decisions and what they are truly trading.

Merrill still hanging 'Help Wanted' sign for advisors in 2023
PRACTICE MANAGEMENT JAN 13, 2023
Merrill still hanging 'Help Wanted' sign for advisors in 2023

The wealth management franchise at Bank of America continued to perform well in 2022 despite the stock market sell-off.

Move past fintech buzzwords toward a proactive wealth management future
FINTECH JAN 12, 2023
Move past fintech buzzwords toward a proactive wealth management future

The industry absolutely loves these terms, but jargon obfuscates, intentionally or not, what the product actually does.

BlackRock plans to eliminate 500 positions in round of job cuts
PRACTICE MANAGEMENT JAN 11, 2023
BlackRock plans to eliminate 500 positions in round of job cuts

The firm will dismiss about 2.5% of its global workforce after grappling with sharp declines last year in equity and bond markets.

Cetera nabs giant office from Securities America
RIAS JAN 11, 2023
Cetera nabs giant office from Securities America

The Patriot Financial Group, based in a suburb of Boston, works with 70 financial advisors who have $2.5 billion in client assets.

How advisors can take control of their success in 2023
OPINION JAN 11, 2023
How advisors can take control of their success in 2023

One way to think positively about the new year is to focus on the activities and actions you can control.