Industry

For its next leader, Ohio National turned to a veteran executive with prior experience leading its independent broker-dealer.

One thing was made clear at the annual event: There’s more work to be done.

James Booth’s seven-year fraud bilked investors out of nearly $5 million.

The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.

As some firms closed their doors, the regional BD saw a selling point for new recruits and existing FAs in a different approach.

“Financial advisors typically don’t speak athletes’ language, so athletes and entertainers gravitate toward those people who do,” said former Chicago Bears defensive end Adewale Ogunleye.

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.

Necessary new approaches include better cultural understanding, more flexibility for new entrants and more outreach, advisors and executives say.

The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.