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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Michael Bernier oversaw roughly $165 million in client assets at Canter Strategic Wealth Management, a firm with $300 million under management. Then he left to join LPL.
December 26 -
Industry watchdogs stayed busy trying to root out elder fraud and off-channel communications while plaintiffs lawyers' questioned firms' sweeps policies and regulators' basic authority.
December 24 -
Cetera also names the next president of its wealth management division and Corient scoops up a $7.9 billion RIA in Maine.
December 20 -
Regulators accused UBS of not doing enough to monitor 22 brokers who generated commissions and sales concessions of syndicate preferred stocks.
December 19 -
While at Schwab, Roberto Ortega worked with clients whose accounts held more than $1.5 billion. A lawsuit seeks to bar him from soliciting their business for his new employer.
December 18 -
The standard-setting group is mulling increasing continuing education requirements and requiring that CFP aspirants have certain types of financial planning-related experiences, among other changes.
December 17 -
The case stems from Raymond James' recruitment of the $2.8 billion Wise Advisor Group from Baird, which also landed a penalty for a broker protocol violation.
December 16 -
The rival firms will pay for a forensic consultant to preserve evidence of transferred confidential data while they await FINRA arbitration.
December 16 -
The deadline is fast approaching for brokerages to register home offices for employees performing supervisory functions.
December 13 -
Homrich Berg also acquires a $6.4 billion RIA and Hightower takes a stake in an $800 million advisory practice.
December 13 -
Scott Burnett and Peter Kelson, formerly of Zions Direct, plan to work mainly with public entities, corporations, foundations and endowments.
December 12 -
Mike Durbin on Cetera's M&A plans, why consolidation will barrel forward in the wealth management industry and the advantages of having a hybrid firm.
December 11 -
Critics of mandatory arbitration say it can go against investment advisors' fiduciary duty to always do what's best for clients.
December 10 -
Ex-CEO Dan Arnold's deal is estimated to be worth about 15% of what he would have received had he not been fired.
December 9 -
Wealth Enhancement Group is the second large OSJ to go separate ways from LPL, following Merit Financial Advisors
December 6 -
Raymond James and Merrill also announce recruiting deals, while LPL hires a head of cybersecurity from PayPal.
December 6 -
The recruits, formerly managing $885 million at their previous firms, are expected to push Concurrent's asset total to $9.7 billion.
December 5 -
Net income in the firm's U.S. wealth business revives following losses related to its City National subsidiary a year ago.
December 4 -
Compliance experts think the costs of going along with a sweeping investigation are ignored by regulators touting the benefits of cooperation.
November 25 -
The bulk of the haul came from the bankrupt crypto company Terraform Labs. But Morgan Stanley, LPL Financial, Ameriprise and other big firms also came under scrutiny.
November 22
