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 advisor at the center of the case, Chuck Roberts, has been the subject of at least 19 customer complaints since late 2022.
October 7 -
RBC Wealth also reorganized its private client group and appointed a new division head, and UBS named a market leader for its San Francisco business.
October 4 -
Jim Cahn of WEG says there will always be room for small RIAs. But firms intent on growth will increasingly have to turn to larger partners for help with estate and tax planning, back-office support, and marketing and client referrals.
October 4 -
Manish Dave, who has been with the firm for 18 years, oversaw a headcount that was formidable but stagnant in recent years.
October 3 -
Industry experts and analysts take comfort in the firm's choice of Rich Steinmeier as interim CEO and say they see little reason to expect serious disruption.
October 2 -
The former Wells employee says he was basically forced to quit after a series of fumbles by the firm cost him his book of business and brought his pay down to "minimum wage level."
October 1 -
A pair of wealth managers stand accused of allocating trading gains to themselves and losses to their clients in a way that had "nearly zero" chance of happening at random.
September 30 -
Along with the big recruiting deals, Dynasty and Gries Financial Partners shook things up at the executive level.
September 27 -
The latest lawsuit accuses the firm of not only failing to look out for clients' best interests but also failing to secure "reasonable returns" on money held in retirement accounts.
September 25 -
Merrill and a partner firm were accused of running a complicated yield enhancement strategy, or CYES plan, of the type that has long been in regulators' crosshairs.
September 25 -
A pair of SEC commissioners say the treatment of the brokerage firm Qatalyst shows industry watchdogs expect nothing short of perfection with regulatory matters.
September 24 -
The court filings seek to overturn two injunctions federal courts imposed after finding the Department of Labor's new conduct standard is too similar to a previous one vacated in 2018.
September 23 -
LPL, JPMorgan and Bank of America Private Bank were also among the recruiting winners this week.
September 20 -
An industry recruiter sees RBC Wealth Management's appeal as lying in its international presence and clean reputation.
September 19 -
Regulators allege First Horizon Advisors violated Reg BI when it continued recommending complex investments even though it was struggling to bring over customer information from a recent acquisition.
September 18 -
If successful, previously banned brokers might be free to "fleece your grandma" again, an expert warned.
September 17 -
Edward Jones is also lowering its fees on certain asset ranges and seeing faster-than-expected adoption of the MoneyGuide investing systems.
September 16 -
UBS, Morgan Stanley, Ameriprise, Bank of America and Cetera were all on the losing end of some of the biggest recruiting deals this week.
September 13 -
A FINRA settlement accuses the firm of failing to supervise a broker who recommended frequent purchases and then resales of various investment products.
September 13 -
The "reverse churning" case highlights the regulatory gap investors can fall into when moving between brokerage and advisory relationships.
September 12
