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.
-
Fifth Third Bank also draws a big team from Truist, and Morgan Stanley from Merrill.
November 22 -
UBS is reducing pay substantially for sub-$750K producers and making smaller reductions for advisors on the higher end of the scale.
November 21 -
The financial services giant lets wealthy clients pick and choose things like assistance with cybersecurity, alternative investments and estate planning.
November 20 -
Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement."
November 19 -
Jed Finn says the firm's wealth unit could easily meet its operating margin goals if it simply stopped spending money to support advisors. But it's not about to do that.
November 18 -
Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.
November 15 -
Morgan Stanley and Edward Jones meanwhile are giving their advisors new stomping ground in midtown Manhattan offices.
November 15 -
Consolidation may be a prevailing industry trend. But the founders of a Chicago-based RIA see no reason to join a large aggregator.
November 14 -
A new partnership with the tech firm Carta will position Morgan Stanley at Work to manage stock-compensation plans for more than 2,000 private companies that are moving toward IPOs.
November 13 -
Big firms would be paying $415,000 a year more by 2029, while most brokers would see a far smaller hit.
November 12 -
The firm's new policy of keeping discrimination complaints out of court isn't sitting well with at least two financial advisors.
November 11 -
A lawyer in the case says his legal team was able to present text messages showing a Stifel wealth manager had been touting complex structured notes as low-risk investments.
November 11 -
Cetera also announces the retirement of its longtime CEO at the end of the year.
November 8 -
Regulators say Invesco felt pressure to overstate its investment support for environmental, social and governance causes for fear that hundreds of billions in AUM would walk out the door.
November 8 -
A judge's opinion is likely to be cited in scores of arbitration cases in which ex-advisors say they are still owed money from big wealth management firms.
November 7 -
The regulators' organization is also seeking to let state regulators enforce the same Reg BI conduct standard that federal watchdogs now apply to broker-dealers.
November 5 -
The two firms are among the many wealth managers now being sued over allegations that they failed to obtain fair returns for their clients on their uninvested cash.
November 5 -
In trying to claim the title "No. 1 global wealth manager," Citi is putting a lot of stock in its ability to secure client referrals through its bank. Will it be enough?
November 4 -
Cinda Collins alleged before a FINRA arbitration panel that RBC fired her in late 2019 in an attempt to "steal much of her book of business without compensating her for it."
November 1 -
RBC Wealth Management pulls wealth teams from Morgan Stanley, and Citi hires a wealth lending head from Goldman Sachs.
November 1
