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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For many family offices, the bulk of services they provide takes a backseat to one specific goal: preserving wealth for their clients' heirs.
July 23 -
Wealth managers are rushing to serve ultrahigh net worth clients. But industry veterans warn some may be promising more than they can deliver.
July 22 -
Departures from the Swiss banking giant show no signs of letting up in a week that also saw LPL Financial and Elevation Pointe announce big deals.
July 18 -
Chuck Roberts, whose recommendations of structured notes landed the St. Louis firm a nearly $133 million arbitration award, was kicked out of the industry after ceasing to cooperate with a regulatory investigation.
July 17 -
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
July 16 -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
July 16 -
The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15 -
Also this week, LPL Financial and Janney Montgomery Scott log recruiting deals while RIA aggregators like Sanctuary Wealth, Beacon Pointe and Carson Group go on an acquisition tear.
July 11 -
Morgan Stanley had gone to the Second Circuit Court of Appeals to fight a lower court's finding that its deferred compensation policies fall under federal retirement law.
July 10 -
As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.
July 9 -
Panelists on a FINRA arbitration board cited Randy Anderson's claims of age discrimination when questioning UBS's reasons for firing its former broker. Now UBS argues in a court filing that no evidence of discrimination was ever presented.
July 8 -
As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.
July 3 -
In separate cases, two federal judges found that neither Wells Fargo nor LPL had a fiduciary obligation to look for clients' best interests with uninvested cash held in brokerage accounts.
July 2 -
The deal to buy Natixis' overlay management services comes amid a general push by the St. Louis-based firm to broaden its appeal to HNW clients.
July 1 -
A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.
June 30 -
Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.
June 27 -
LPL says its elimination of positions at Atria Wealth Solutions was always part of its plan to acquire the firm, drawing a sharp distinction with what it's doing with Commonwealth Financial Network.
June 26 -
Patrick Funke & Associates' decision to join Commonwealth Financial Network suggests that despite its pending purchase by LPL, Commonwealth still appeals to advisors seeking a smaller setting.
June 24 -
Roughly 200 advisors at the firm are being named "founder specialists" for their track record helping entrepreneurs do everything from set up employee-benefit plans to take their firms public.
June 23
