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No vaccine will return advisors and clients to pre-COVID-19 times— it’s time to let go and keep building.

Chairman Jerome Powell and other officials have stressed that recovery is highly dependent on the nation’s ability to better control the coronavirus.

CEO Robert Cook has launched a task force and started assessing his own actions, he said in a panel at the Quad-A Vision conference.

Ameriprise, for example, has hosted more six times as many advisors virtually than it did in person last year.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies to better gauge which changes in consumer behavior will stick.

Three out of the top four RIA custodians compete directly with their RIA clients through their networks of branch offices and call centers.

The bullion rally has shown signs of losing momentum as economies reopen.

The majority of job cuts are in corporate departments, with little impact to advisors or client service roles, the firm says.

“Expense ratios matter to most people, particularly when you're looking at these mostly passive funds,” an expert says.

It’s the latest team to exit the wirehouse as profit suffers.