Industry

The addition for Venture Visionary Partners grows its staff to 28 and total AUM to $3.7 billion.

Executives provided advisors an update. The company has separately said it cut more than 200 retail branches at the end of last month.

A former chief information officer of PR firm Cision will take over as CTO following Scott Grinis’s retirement.

The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.

Funding for wealthtech is also picking up, with firms attracting $1.5 billion across 62 deals in the third quarter.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

It’s at least the second time in just a few weeks that the firm has sought to limit the expense of rewarding well-paid employees.

The private equity-backed firm’s bottom line has been less affected by coronavirus-related low interest rates than its rivals, Moody’s says.

From the fate of Veo One to account openings, here’s what Schwab’s leaders had to say.

CEO Dan Arnold cites growth in traditional channels and in recently launched models that could bring even more opportunities.