Industry

Online competitors like Wealthfront and Betterment are taking issue with Schwab's characterization of its automated investment service as cheaper, better and not just skewed to millennial investors.

The divide within the financial industry creates confusion that ultimately puts the financial security of everyday consumers at risk, write NAPFA execs Dave O'Brien and Geoffrey Brown.

The wirehouse grabbed a group that produced $2.5 million at RBC.

It's 'not what I would consider to be planning,' said RCS Capital CEO Michael Weil during a Citi Asset Management Investors Conference in New York.

The firm also said it had recruited a wirehouse team with $2 million in annual revenues.

Yes and no, experts say. But it's a thorny issue given that many IBD advisors consider themselves fiduciaries and do most of their business through RIAs.

After stepping down as LPL president, Moore takes an executive board role with Ron Carson, who heads an LPL branch office.

Two Morgan Stanley advisors managing about $150 million in assets moved to the regional broker-dealer.

A team that produced $3.1 million in annual revenue moved between wirehouses.

The review is likely to start with broker-dealers and their platforms; It will coincide with a second, more targeted phase of the commission's cybersecurity sweep.