Industry

The country’s largest RIA aggregator, Focus Financial, is hiring away an architect of one of the industry’s most successful breakaway stories.

Morgan Stanley Wealth Management hauled in nine new advisor hires on Friday with more than $765 million in assets and $9.2 million in fees and commissions.

It’s official: The Senate on Monday confirmed former federal prosecutor Mary Jo White as the new head of the Securities and Exchange Commission, Reuter reports.

Beacon Pointe is actively looking for more advisory firms with a CPA tie-in as it plots an expansion strategy of reaching 35 to 40 offices around the country in the next 10 years, Cooper says.

Mirae Asset Global Investments (USA) has added three hires to its sales and distribution team.

Stories about advisors cheating their clients are far from rare, and therefore, advisors must do a better job at educating and appeasing concerns, says Daniel Bernstein, director of research and development of MarketCounsel, a so-called advisor for advisors.

Ultimus Fund Solutions has added David Carson to its senior management team as Director of Client Strategies to manage the series trust product line

Rafferty Asset Management, advisor to Direxion Funds and Direxion Shares, has hired a chief operating officer and president.

Bill Gross' PIMCO Total Return Fund (PTTRX), the world's largest mutual fund, attracted $32 million in investor deposits in March, the lowest amount since December 2011.

Private equity firms are making it known that they, too, want to pull in retail investors' money just as much as do their hedge fund counterparts.