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Morgan Stanley hit with $35 million SEC fine over data security
FINTECH SEP 20, 2022
Morgan Stanley hit with $35 million SEC fine over data security

When the bank replaced hard drives and servers, it improperly disposed of thousands of devices, compromising the personal data of about 15 million clients.

Institute for Portfolio Alternatives promotes Anya Coverman to top job
PRACTICE MANAGEMENT SEP 19, 2022
Institute for Portfolio Alternatives promotes Anya Coverman to top job

The trade group's new president and CEO previously served as its general counsel.

SEC to probe whether advisers can back up ads in marketing-rule reviews
PRACTICE MANAGEMENT SEP 19, 2022
SEC to probe whether advisers can back up ads in marketing-rule reviews

A risk alert released Monday gives advisers a preview of how the agency will assess compliance with the regulation, which overhauls advertising restrictions for the first time in 60 years.

The latest in financial #AdviserTech — September 2022
FINTECH SEP 19, 2022
The latest in financial #AdviserTech — September 2022

VRGL's $15 million Series A round, FMG's acquisition of Vestorly, Farther's funding round and Orion's partnership with Apex Clearing are among the highlights of this month's roundup.

Ethic raises $50 million in Series C round
FINTECH SEP 19, 2022
Ethic raises $50 million in Series C round

UBS participated in the funding round for the provider of direct indexing, which oversees more than $2 billion in assets.

Marstone is offering its TAMP to community banks
FINTECH SEP 18, 2022
Marstone is offering its TAMP to community banks

North Carolina’s Bank of Oak Ridge will use Marstone’s platform combined with advice from Detalus Advisors.

Voya launches holistic platform for plan participants
RETIREMENT PLANNING SEP 16, 2022
Voya launches holistic platform for plan participants

The digital platform, myVoyage, integrates account balances in defined-contribution retirement plans with guidance and information about external accounts.

US SIF CEO Lisa Woll to step down
PRACTICE MANAGEMENT SEP 16, 2022
US SIF CEO Lisa Woll to step down

Woll has been the face of one of the most prominent organizations supporting sustainable investing for 16 years.

Ritholtz's Future Proof festival isn't just a day at the beach for wealth management
FINTECH SEP 15, 2022
Ritholtz's Future Proof festival isn't just a day at the beach for wealth management

While many were skeptical about Advisor Circle and Ritholtz Wealth's idea for a 'wealth festival,' Future Proof could become the industry's next big event.

Anxious retirement savers turn digital experience into new battleground: J.D. Power
RETIREMENT PLANNING SEP 15, 2022
Anxious retirement savers turn digital experience into new battleground: J.D. Power

63% of retirement plan participants say they have challenges managing their accounts digitally.

Advice-only planning exposes what's wrong with asset-based fee models
RIAS SEP 15, 2022
Advice-only planning exposes what's wrong with asset-based fee models

The planning industry won't truly distinguish itself from the old-fashioned brokerage industry until it stops linking fees to investment portfolios.

Clients want advice about their Medicare options
RETIREMENT PLANNING SEP 14, 2022
Clients want advice about their Medicare options

Most advisers agree they should be providing health care advice, but they say they need better tools.

Morgan Stanley counting fresh assets in the trillions
PRACTICE MANAGEMENT SEP 14, 2022
Morgan Stanley counting fresh assets in the trillions

After its spate of acquisitions, Morgan Stanley now has relationships with 16.5 million clients, Andy Saperstein, its head of wealth management, points out.

The decline of internal succession in the age of integrators and aggregators
OPINION SEP 14, 2022
The decline of internal succession in the age of integrators and aggregators

Remember that almost any carefully developed plan is going to be better for your family, employees and clients than to have no plan in place at all.

Morgan Stanley adviser managing $185 million joins Ameriprise
WIREHOUSES SEP 14, 2022
Morgan Stanley adviser managing $185 million joins Ameriprise

Kim Garrison is moving to the firm's employee channel in Springfield, Missouri.

Wells Fargo plans third-party racial equity audit
PRACTICE MANAGEMENT SEP 14, 2022
Wells Fargo plans third-party racial equity audit

The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.

Merrill Lynch boosts CFP Board diversity efforts with $1.25 million donation
PRACTICE MANAGEMENT SEP 13, 2022
Merrill Lynch boosts CFP Board diversity efforts with $1.25 million donation

The firm becomes a founding sponsor of the Center for Financial Planning, whose mission is to build a more inclusive talent pipeline.

Investors see inflation as top concern
RIAS SEP 13, 2022
Investors see inflation as top concern

Research from State Street Global Advisors exposes a generational divide when it comes to seeking out financial advice.

New foundation offers startup grant to aspiring women advisers
PRACTICE MANAGEMENT SEP 13, 2022
New foundation offers startup grant to aspiring women advisers

A new grant to help women launch their own advisory firm is offered by a foundation honoring an adviser who died young

Bank of America forms wealth management banking and lending group
PRACTICE MANAGEMENT SEP 13, 2022
Bank of America forms wealth management banking and lending group

The new organization, which comprises about 3,500 employees, seeks to expand the firm's offerings for affluent clients increasingly sought by rivals.