Portfolio

The most important investment a wealth management firm can make is in its people. To thrive over the long term, firms must be able to attract and land great talent.

With the addition of the new recruits, Faubourg Private Wealth Advisors now has seven former J.P. Morgan advisors.

The advisors managed a combined $278 million in client assets.

Carl Icahn criticized asset management firms such as BlackRock for selling ETFs that give an illusion of liquidity for “extremely illiquid, and extremely overpriced” securities such as high yield bonds.

Regulators say that as threats continue to mount, they are expecting more formal policies and procedures from the firms they examine.

Even as a first step for clients seeking information on advisors, BrokerCheck is under scrutiny by advocacy groups.

The multi-strategy hedge-fund manager with about $7 billion in assets is seeking to raise $500 million for its first private equity fund.

The move represents HighTower's eighth transition this year and its 14th office on the West Coast.

Regulators have cracked down on LPL advisors in Massachusetts for using terms like "Retirement Specialist" and "Retirement Income Planning Specialist" -- while its planners use them elsewhere.

In separate lists, these are the five biggest international funds as well as the best performing funds over the past year.