Industry

The advice industry’s current structure is “dumb” and in need of fixing, according to Betterment CEO Jon Stein.

The brokerage may pay about $2 billion for the additional advisory clients, according to reports.

David Ahlquist is the latest addition to the firm’s growing employee broker-dealer.

Independent Advisor Alliance also started a robo advisor under Betterment for Advisors after adding more than $2 billion in assets over the past 12 months.

We’ve reached the point where we need to move beyond the ad hoc approach that has previously characterized professional development.

Hyperpersonalization delivered via improved technology is critical for client relations, a new report says.

Since introducing an ongoing fee model, the platform has seen a 25% rise in account openings, according to the firm.

Cathy Bessant is among executives who remain in talks with Wells Fargo, while JPMorgan Chase’s Gordon Smith won’t be taking the job, according to people with knowledge of the situation.

Even as the wirehouse has cut back on recruitment, the hire of two new industry veterans show it’s still looking for top teams.

Summit Brokerage Services will fold 450 advisors into one of the 41 OSJ regions under Cetera Advisor Networks this summer.