Industry

Ronald Kruszewski says a shift in the size of transition packages, made in response to the fiduciary rule, "benefits us competitively."

Fidelity report: What RIA buyers want and what sellers need to know.

Our chief competition is Fidelity and Schwab, says the digital-first firm's CEO, Jon Stein.

Planners will have control over the service, which will not be available directly to clients, according to the firm.

The firm also scooped up a market manager from Stifel.

The wirehouse will make “many” of the pricing and product design changes it planned last year, include lowering commissions for trades involving stocks and ETFs “to the benefit of our clients,” according to an internal memo.

The wirehouse also reported record revenue of over $2 billion for the recent quarter.

Michael J. Breton admitted to using master accounts from Fidelity and Schwab to take winning investments for himself, while giving clients the losers, the Department of Justice says.

For the first time since 2008, a commission will propose long-awaited changes to the Standards of Professional Conduct. Areas under review include code of ethics and planning practice standards.

The new recruit generated more than $1 million in annual revenues, according the regional firm.