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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Merrill is also adjusting the incentives it gives advisors for steering clients into banking products.
September 25 -
Merrill accuses industry rivals of conspiring with a group of former employees to remove confidential client information and trade secrets for the formation of a new RIA.
September 24 -
Firms are increasingly looking to provide high net worth clients with services stretching beyond basic wealth management. The offerings include everything from help with cybersecurity to taking out complicated loans.
September 23 -
JPMorgan credits Sieg for helping to oversee the absorption of First Republic Bank and drive the firm's revenue and net new asset figures higher.
September 23 -
The regulator's Investor Advisory Committee said policymakers could abandon asset and income thresholds for determining who can put money into private markets and instead adopt a "sophistication" standard.
September 22 -
More Commonwealth advisors choose Osaic over LPL Financial, while LPL picks up a pair of Edward Jones advisors.
September 19 -
Amid legal scrutiny, Morgan Stanley is making changes to its deferred compensation policies while adding sweeteners for asset growth and deposit growth.
September 19 -
The latest revision to state regulators' guidelines for non-traded real estate investment trusts could change who can invest and how advisors can recommend the products to clients.
September 18 -
In an earlier than usual announcement, UBS said it will update its 2026 compensation grid for U.S. advisors, aiming to curb departures and encourage more work with high net worth clients.
September 16 -
In its third suit in as many months, JPMorgan is accusing a former advisor of using its banking referrals to build a book of business and then trying to abscond with those clients to a rival firm.
September 15 -
Cerity Partners adds its own large RIA in New York, and Beacon Pointe acquires firms in Indiana, Washington State and New York.
September 12 -
Raymond James accuses the widower of an advisor of using data stored on his wife's company-issued computer to solicit clients for a rival firm.
September 11 -
In an opinion sought by Morgan Stanley, the Department of Labor finds the firm's deferred compensation "appears to be a bonus program" used to reward loyalty and good behavior and not a retirement benefit.
September 10 -
Raymond James has gone from being one of the lowest payers of third-party recruiters to one of the higher. That's helped it get more "swings at the plate" with teams looking to leave rival firms.
September 10 -
Joe Toledano, head of insured solutions for Morgan Stanley's wealth division and E-Trade, tells how insurance has gone from almost an afterthought for many financial planners to something that's central to what they do.
September 8 -
Also this week, Wells Fargo recruits from LPL, RBC and TD Private Wealth, and Corient moves overseas in a deal that doubles its AUM.
September 5 -
Merrill and Bank of America Private Bank seeks niche private equity opportunities for its ultrawealthy clients, while Goldman looks to retirement savers and Wells Fargo to everyday investors.
September 4 -
Golden State Wealth Management is just the latest large advisory team to exit UBS following changes the wirehouse made to its compensation policies.
September 3 -
Also this week in Advisor Moves, Fifth Third reels in a big team from BNY Mellon, and MAI Capital Management doubles its AUM with a big acquisition deal.
August 29 -
Citi wealth head Andy Sieg went on Fox Business to deny allegations about workplace misbehavior. Industry experts say that's a good sign he's going to stick around, at least for a while.
August 28
