Industry

Michael LaMena's exit continues the management shake-up at the Chicago-based RIA.

Adviser headcount continued a slow, but steady decline, slipping to 6,915 from 7,116 for the year-ago period.

The microinvesting site, which now has over 2 million accounts, allied itself with Clarity Money.

CEO Dan Arnold said advisers’ uncertainty about the fiduciary rule is waning.

Collectively the four firms provided market access to numerous clients that executed millions of trades per day.

The new hires joined a recently opened branch in Tuscon, Arizona, continuing a push west for the regional firm.

The new hire is part of the bank's push to expand the wealth management business.

"This is a challenging time for the firm with the DoL rule," CEO Paul Reilly said.

The rule has cost the firm tens of millions of dollars in compliance and lost revenue.

A new toolkit is being offered to students before the next test sitting in November.