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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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 -
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
