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Finra dings Morgan Stanley $802,000 for overcharging clients
PRACTICE MANAGEMENT DEC 23, 2022
Finra dings Morgan Stanley $802,000 for overcharging clients

Morgan Stanley was penalized for failing to catch excess sales charges and fees from mutual fund transactions between 2015 to 2021.

Rep monkeyed around with client information to sell more GPB: Finra
ALTERNATIVES DEC 22, 2022
Rep monkeyed around with client information to sell more GPB: Finra

Using white out and other means, the rep doctored client financial information disclosure forms, according to Finra.

ETF pioneer Kathleen Moriarty dies at 69
ETFS DEC 22, 2022
ETF pioneer Kathleen Moriarty dies at 69

She earned the nickname 'SPDR Woman' for her work on the SPDR S&P 500 ETF Trust, which State Street Corp. introduced in 1993.

Accountability for inclusion ratchets up with JPMorgan critique, Knight Foundation report
PRACTICE MANAGEMENT DEC 20, 2022
Accountability for inclusion ratchets up with JPMorgan critique, Knight Foundation report

Transparency isn't always clear, especially when critics take issue with the way companies calculate accountability.

Blow by compliance while the competition dithers
OPINION DEC 20, 2022
Blow by compliance while the competition dithers

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.

Stock pullback has more advisers diversifying away from asset-based fees
RIAS DEC 20, 2022
Stock pullback has more advisers diversifying away from asset-based fees

As account balances shrink in stride with the financial markets, RIAs are increasingly embracing flat-fee pricing.

Leading with intention, compassion creates a firm that attracts quality talent
OPINION DEC 20, 2022
Leading with intention, compassion creates a firm that attracts quality talent

When advisers are focused on the activities they enjoy, flexing their best skill set, they will win and be happy while doing it.

Automatic e-delivery of investment documents gains bipartisan support
FINTECH DEC 19, 2022
Automatic e-delivery of investment documents gains bipartisan support

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.

Aaron Judge baseball caught by adviser auctioned for $1.5 million
ALTERNATIVES DEC 19, 2022
Aaron Judge baseball caught by adviser auctioned for $1.5 million

Cory Youmans, an adviser in Plano, Texas, snagged Judge’s historic 62nd home run of the season on Oct. 4.

Diversity imperatives snapped into focus
PRACTICE MANAGEMENT DEC 19, 2022
Diversity imperatives snapped into focus

Accountability for fulfilling vows of diversity and inclusion has been scarce, but a spate of new scholarship and outreach programs signaled progress.

Fintech challenged by market forces
ALTERNATIVES DEC 19, 2022
Fintech challenged by market forces

While most adviser-facing fintechs were spared the pain felt across the wider technology landscape, not everyone escaped the year unscathed.

Grace, rather than censure, advances inclusion
PRACTICE MANAGEMENT DEC 19, 2022
Grace, rather than censure, advances inclusion

Grace and goodwill are the way to build bridges that include all.

Goldman weighs cutting up to 4,000 jobs
PRACTICE MANAGEMENT DEC 16, 2022
Goldman weighs cutting up to 4,000 jobs

CEO David Solomon is battling to contain a slump in profit and revenue after a costly expansion into consumer bank resulted in deep losses.

Fintech Bytes: STP acquires WealthSite, Docupace launches productivity tool kit
FINTECH DEC 16, 2022
Fintech Bytes: STP acquires WealthSite, Docupace launches productivity tool kit

Plus Stifel turns to KX to enhance analytics and decision making, and digital insurance brokerage Modern Life unveils a new platform for advisers.

Adviser coach awards $50,000 in scholarships
PRACTICE MANAGEMENT DEC 15, 2022
Adviser coach awards $50,000 in scholarships

The grants from Stephanie Bogan will support training for diverse advisers.

At LPL Financial, advisory assets are far sweeter than brokerage
BROKER DEALERS DEC 15, 2022
At LPL Financial, advisory assets are far sweeter than brokerage

An LPL presentation on the return on various types of assets shows the age of advisory assets and fees has arrived in the broad financial advice industry.

CFP Board opposes FPA on title protection effort
PRACTICE MANAGEMENT DEC 14, 2022
CFP Board opposes FPA on title protection effort

CFP Chair Kamila Elliott said the current political environment would make it too difficult to obtain legal recognition of financial planning.

Social media finfluencers face charges in $114 million pump-and-dump scheme
FINTECH DEC 14, 2022
Social media finfluencers face charges in $114 million pump-and-dump scheme

The defendants allegedly disseminated false and misleading information to their collective 1.5 million Twitter followers to hype interest in certain securities while secretly planning to sell shares at artificially elevated prices, the DOJ charged.

Finra fines Edward Jones $1.1 million over bungled phone records
FINTECH DEC 14, 2022
Finra fines Edward Jones $1.1 million over bungled phone records

The firm used two locations to store phone records, which caused a confused response to Finra document requests in investigations, according to the regulator.

Alexandra Lebenthal, third-generation Wall Streeter, invests in first-generation women business owners
PRACTICE MANAGEMENT DEC 14, 2022
Alexandra Lebenthal, third-generation Wall Streeter, invests in first-generation women business owners

Steeped in finance, Lebenthal turns her considerable influence to accelerate growth for women-led businesses.