Industry News from Financial Planning

The CFP Board promised to enhance its review processes after an investigation found major shortcomings. A new analysis of CFP data found that the problem has only gotten worse.

Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.

The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.

The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.

Stressed RIA leaders with a glut of wealthtech products to choose from are experiencing analysis paralysis.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.

Citi's wealth division was a relative bright spot in the bank's second quarter earnings report, with revenue up amid turbulent market conditions.

Negative net new assets came back to the giant clearing and custody firm in the second quarter, although they weren't as large as in the same period of 2024.

Also this week, LPL Financial and Janney Montgomery Scott log recruiting deals while RIA aggregators like Sanctuary Wealth, Beacon Pointe and Carson Group go on an acquisition tear.

Many former college athletes will receive large lump sums, and current players face new NIL guidelines that come with large, officially sanctioned payments.

As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.

An annual snapshot report tracks the record expansion and changing nature of the growing industry channel fueled by financial advisors and their clients.

As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.

Even after accounting for income, Black Americans still trail in retirement savings, according to a recent EBRI study. Advisors point to a mix of historic and systemic barriers that make the gap hard to close.

The deal to buy Natixis' overlay management services comes amid a general push by the St. Louis-based firm to broaden its appeal to HNW clients.

The momentum is clearly accelerating behind registered investment advisory firms, but every individual team's choice requires careful consideration.

A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.

To best serve LGBTQ clients, financial advisors must understand their unique needs and challenges, from diverse household structures and retirement plans to the correct use of pronouns.

Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.