Dan is a business journalist who previously worked for various local newspapers and industry publications. He also worked for two years in Beijing as an editor at China Daily. A graduate of the University of Missouri-Columbia, he has written about banking, local governments and the legal profession, among other subjects. He now covers how politics, policy and regulation affect the financial planning industry.
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The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
July 16 -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
July 16 -
The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15 -
Also this week, LPL Financial and Janney Montgomery Scott log recruiting deals while RIA aggregators like Sanctuary Wealth, Beacon Pointe and Carson Group go on an acquisition tear.
July 11 -
Morgan Stanley had gone to the Second Circuit Court of Appeals to fight a lower court's finding that its deferred compensation policies fall under federal retirement law.
July 10 -
As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.
July 9 -
Panelists on a FINRA arbitration board cited Randy Anderson's claims of age discrimination when questioning UBS's reasons for firing its former broker. Now UBS argues in a court filing that no evidence of discrimination was ever presented.
July 8 -
As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.
July 3 -
In separate cases, two federal judges found that neither Wells Fargo nor LPL had a fiduciary obligation to look for clients' best interests with uninvested cash held in brokerage accounts.
July 2
