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 investment recommendations from a now-barred broker may ultimately cost the St. Louis-based firm more than $200 million in various penalties and awards.
March 25 -
In contracting for various digital and operations services overseas, Edward Jones is tredding a path blazed by industry rivals like LPL Financial and Ameriprise.
March 25 -
Ameriprise's proposal to raise CEO James Cracchiolo's total compensation by 8% would put him far ahead of many of his direct counterparts at regional firms.
March 24 -
The Apollo Group, a six-person team in New York, is the latest to show that former First Republic advisors are still not completely settled at JPMorgan.
March 23 -
LPL's board proposed a huge boost to CEO Rich Steinmeier's compensation package following a year defined by the firm's acquisition of Commonwealth Financial Network.
March 20 -
Andrea Bethune contends in federal court that Carson Group moved her into a new role to make way for a woman 20 years her junior. Eventually, her position was eliminated.
March 19 -
Investor advocates think the money should instead go to clients who haven't been paid outstanding arbitration awards.
March 18 -
The Biden Administration rule for a fiduciary standard on one-time retirement-related advice died in two separate court decisions.
March 18 -
Punitive damages, disclosures over employment terminations, the statute of limitations for bringing claims — FINRA is asking about it all in a series of more than 60 questions about revamps to its arbitration procedures.
March 17 -
Federal Judge David Nye sides with a broker fired over five years ago for placing trades without first obtaining his client's permission.
March 16 -
Penny Pennington has presided over a wide-ranging overhaul that has seen forays into alternative assets and banking but also heightened rates of advisor departures.
March 16 -
Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.
March 13 -
Journey Strategic Wealth President Penny Phillips said advisors who broke off from wirehouses and large brokerages are now returning to big firms. The winners will be partners who can welcome them without compromising their independence.
March 11 -
The 13-person Stonegate Investment Group is joining NewEdge's Pillar Channel, which is for advisors who want to work as direct employees.
March 10 -
In a sternly written footnote, federal Judge Steven Merryday said the SEC's refusal to release information on its penalty calculations appears to "countenance duplicity, gamesmanship, neglect, insouciance" or worse.
March 10 -
Analysts warn AI agents could automatically move clients' uninvested cash into money markets and other high-yielding investments, depriving brokerages of one of their most lucrative revenue sources.
March 9 -
Mario Payne — an independent advisor who had used Charles Schwab and TD Ameritrade for custodial services — lands both firms in hot water over his recommendations of risky investment products.
March 6 -
Lawyers note that Ameriprise, despite its win, got relatively little of what it wanted and question whether the fight was worthwhile.
March 5 -
Tom Cleary and Robert Whittington return to Morgan Stanley to start Southeast Wealth Management Group in Orlando, Florida.
March 3 -
As a result of Comerica's acquisition by Fifth Third Bank, Ameriprise will lose a large contract for its financial institutions group.
March 3
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