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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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 -
Paul Shoukry said Raymond James differentiates itself by not requiring advisors to push banking and other products and by not aggressively pursuing advisors who leave for industry rivals.
March 2 -
A Department of Labor rule adopted under the Biden administration had many brokers worried about their ability to work as independent contractors. A new proposal would roll it back.
February 27 -
The recruiting deal comes after NewEdge Advisors drew a 24-person team previously managing $1.4 billion for Ameriprise earlier this year.
February 26 -
Paul Reid Galietto's lawyer says he was let go by Credit Suisse in 2021 after the firm tried to unfairly blame him for losses from the collapse of the giant family office Archegos Capital Management.
February 24 -
The arrival of Warren-Fantano Wealth Management at Janney will give the regional broker-dealer a new office in Delaware.
February 23 -
A pair of putative class-action lawsuits this month accuse Edward Jones of allowing information clients enter online to be harvested for use in targeted marketing campaigns.
February 20 -
The Weikes Slattery Group generated $17 million in annual revenue from locations in New York and California.
February 20 -
Retail investors increased their allocations to private equity, private credit by a whopping 36% last year as advisors look for diversification and strong returns.
February 19
