Instead of a single seat on the company's board, activist investor Impactive Capital is now seeking more significant change.
The firm is required to pay a $50 million fine and spend $50 million to improve compliance over two years.
Here are three areas that wealth management firms should be monitoring to avoid taking the kind of reputational hit the airline just suffered.
The ever-growing number of items that compliance officers and teams must monitor has made tracking regulatory compliance disclosures more complicated than ever.
Critics say the measure's due diligence and monitoring requirements for third-party providers of portfolio management and other services are unnecessary given advisors' fiduciary duty.
The regulator's penalties averaged $247,000 per firm, according to an InvestmentNews tally.
It isn't just a matter of identifying clients who are interested, but of removing whatever obstacle is keeping them from investing.
Mary Beth Franklin, who launched her final career phase as a weekly columnist in 2012, will continue writing a monthly column for InvestmentNews.
Morgan Stanley was penalized for failing to catch excess sales charges and fees from mutual fund transactions between 2015 to 2021.
Using white out and other means, the rep doctored client financial information disclosure forms, according to Finra.
She earned the nickname 'SPDR Woman' for her work on the SPDR S&P 500 ETF Trust, which State Street Corp. introduced in 1993.
Transparency isn't always clear, especially when critics take issue with the way companies calculate accountability.
Instead of viewing compliance as an obstacle, look at it as an opportunity to create messages that reach, influence and persuade more people than ever to pay you to build their wealth.
As account balances shrink in stride with the financial markets, RIAs are increasingly embracing flat-fee pricing.
When advisers are focused on the activities they enjoy, flexing their best skill set, they will win and be happy while doing it.
Legislation that would make electronic investor communication the default method for disclosures sends a message this year, but will have to be reintroduced next year.
Cory Youmans, an adviser in Plano, Texas, snagged Judge’s historic 62nd home run of the season on Oct. 4.
Accountability for fulfilling vows of diversity and inclusion has been scarce, but a spate of new scholarship and outreach programs signaled progress.
While most adviser-facing fintechs were spared the pain felt across the wider technology landscape, not everyone escaped the year unscathed.
Grace and goodwill are the way to build bridges that include all.
