Practice

The Financial Services Institute has gained another 225 members, as Mountain View, Calif.-based broker-dealer and RIA Foothill Securities announced it has signed up all its advisors.

FINRA has fined Citigroup Global Markets $725,000 for failing to disclose conflicts of interest in its research reports and public appearances by analysts.

David Chambers, a former head of Personal Trust Services and International Trust Services at Merrill Lynch, brings 30 years of experience in serving high net-worth clients.

Legacy expert attorneys Andy and Danielle Mayoras say the billonaire's case serves as a reminder that too many people make the estate planning mistake of relying on verbal or written promises that contradict their will or trust.

The SEC has charged an investment advisory arm of UBS with overstating the prices of securities in three mutual funds, some times by more than 100%.

The Securities and Exchange Commission announced Tuesday that it fined UBS Global Asset Management $300,000 for overvaluing 48 mortgage-backed securities purchased for $22 million.

Two large RIA firms have launched their own apps in the Apple and Android store, putting them ahead of the field in the race to maintain contact with clients.

Almost six in 10 millionaires believe they have an obligation to give back to their communities, unchanged from 2008, when the U.S. economy went into a tailspin, according to a PNC Wealth Management survey.

Planners have taken note of the fact that clients with incomes of $1 million or more were twice as likely to be audited by the IRS in 2011 than they were in 2009. Several say they are taking steps in anticipation of still greater vigilance on the part of the agency.

Americans overall aren’t saving enough for retirement, and as a group, women especially seem not to be prepared. Only 8% of women workers believe that they’re building a large enough retirement fund for themselves, according to the Transamerica Center for Retirement Studies.