Portfolio

How might the metaverse change wealth management? Who knows. But the veteran consultant and digital transformation expert has some big ideas.

‘Equi-vest’ account statements sent to a million public school teachers and other 403(b) and 457(b) clients were missing nearly all of the expenses, the regulator says.

Even if rules governing the new assets turn out to be at odds with those of firms, acting today will foster a compliance culture in a volatile financial services space.

New research shows that higher-priced strategies can come with lower returns and greater risk — an urgent reason for advisors and investors to monitor the space.

The strategy is widely promoted, but it can leave some investors worse off.

The company’s second-quarter earnings showed a drop in advisors and client assets even as increases in interest rates and loan balances drove profits higher.

The number of advisors in the bank’s wealth management business hasn’t grown since 2020. But that didn’t stop the firm from banking a few new records.

Macro factors like inflation, Federal Reserve actions, midterm elections, Ukraine, energy, the euro and China seem likely to drive markets for at least the rest of the year.

Nearly 1,000 more advisory firms registered with the SEC last year, pushing their combined AUM above $128 trillion, according to an annual study.

Firm leaders said the fine relates to broad investigations by the SEC and CFTC regarding employees’ use of unapproved personal devices.