Practice

On May 1, Fidelity reported an average increase in its participants' 401(k) balances.

Joel Blumenschein, a Wisconsin RIA, has resigned from FINRA after settling a disciplinary case alleging he failed to supervise a broker at his firm.

UBS Financial Services Inc. of Puerto Rico and two of its executives have been charged by the SEC with misleading investors and its own financial advisors about the market risks associated with the sales of 23 closed-end mutual funds.

Perella Weinberg Partners has added former Morgan Stanley executive Michael McGrath as a partner in its asset management group.

The four firms were fine a total of $9.1 million for not having adequate supervisory systems in place for billions of dollars of sales of leveraged and inverse ETFs.

Industry veteran Steven M. Short will oversee the wealth management offices in the bank’s footprint, which includes about 15 markets across six states.

The company has nabbed two veteran Morgan Stanley Smith Barney financial advisors for its Dayton, Ohio, branch.

The aim is to maintain consistency in imposing sanctions for similar offenses.

Concert Wealth hired Leslie Ferrone to join its Oak Brook, Ill., office.

Legacy expert attorneys Danielle and Andy Mayoras say even the most savvy and successful entrepreneurs are counting on their financial advisors to protect their life’s work and legacy after they’re gone. Are you up to the task?