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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Financial Planning's annual awards honor advisor employees at both large and regional firms.
October 21 -
LPL Financial also pulls advisors from Raymond James, and Raymond James draws from Merrill. Osaic meanwhile appoints a chief financial officer.
October 18 -
In court response, LPL warns victory for Ameriprise would "chill" advisors' ability to move from one independent broker-dealer to another.
October 18 -
Even as the firm puts pressure on lower-end advisors, it's making it easier for its top wealth managers to earn growth rewards.
October 16 -
Jane Fraser and other Citi execs point to the wealth unit's 9% bump in revenue and 24% increase in investment assets as signs that the firm's recent overhaul is working.
October 15 -
Merrill and Bank of America Private Bank report starting 5,500 new client relationships in the third quarter, more than a third of which came through recent graduates of its training program.
October 15 -
The week also saw BlackRock, JPMorgan Asset Management and Charles Schwab take minority stakes in the advisory-support firm Dynasty.
October 11 -
Among the proposals the Biden-appointee still has to shepherd across the finish line are rules for eliminating conflicts from AI recommendations and cybersecurity requirements for advisors and broker-dealers.
October 10 -
The new offering, rolled out to 600 advisors this month, will let clients pay $3,600 a year for services that extend beyond asset management to include tax and trust planning.
October 9 -
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
