Industry

Investigators will remain focused on RIAs, the commission's enforcement chief told lawmakers in his appeal for funds to add staffers.

This week's notable news from the asset management industry includes a recent SEC roundtable meeting where some participants discussed the potential "unintended consequences" of universal proxy ballots, global ETP flows in February reached a record $50 billion, the fastest start to any year on record, and leadership at Vanguard were tasked with new roles within the firm.

LPL's "lagging earning results" led the company's compensation committee to cut Mark Casady's bonus by 40%. But Casady also got $6 million in stock options.

For several years regional banks have been furiously trying to boost fee income by beefing up in wealth management. But the cost of acquiring talent has made it hard for them to gain traction in this all-but saturated market.

A FINRA arbitration panel also orders the expungement of the advisor's termination records.

As fiduciary debate heats up, Garrett takes advantage of presidential spotlight to tell advisors to sign a fiduciary pledge.

The firm left John Stumpf's pay unchanged at $19.3 million after the firm generated a bigger profit than any other U.S. bank for a second straight year.

The wealth manager was ordered to pay back Wells Fargo, while he still faces seven client complaints coinciding with UBS' Puerto Rico bond troubles.

Wealth managers who managed over $800 million in combined client assets have joined the wirehouse, according to a spokeswoman.

The elite Bank of America brokerage unit created a new executive role to oversee philanthropic services.