Industry

Higher equity values and client activity pushed up the major custodian’s revenue in the second quarter, despite significant headwinds.

FINRA arbitrators decided not to hold the major custodian liable for transactions prior to 2008, an attorney for the clients says.

Private equity firms are jostling to invest in financial advice firms that they think may become cash cows.

Raymond James’ advisor employee headcount has remained relatively flat over the last five quarters, while its 1099 channel saw an increase of 3% over the same time period, according to the company’s latest earnings report.

The expanding employee channel firm aims to support practice recruiting efforts and help usher in the next generation of advisors.

Kristin Kimmell brings decades of experience and notable success as the replacement to the former head recruiter promoted only last year.

The startup, Just Invest, uses direct indexing to manage $1 billion in assets.

Banks and other institutions are driving significant recruiting moves while aiming to convince more members and clients to sign up for financial advice.

The head of Ark Investment Management will assist fintech platform Tifin as the company’s subsidiary Magnifi introduces commission-free brokerage services.

Strategic buyers and consolidators like Captrust are driving a record pace in overall transactions and those involving sellers with at least $1 billion in AUM.