Industry

The CFP Board “cannot justifiably act as both a regulator for continuing education providers and as a CE provider themselves,” FPA president Michael Branham said to a burst of applause Sunday at the general session of the association’s annual conference.

Raoul Weil, the fugitive former head of UBS AG’s global wealth management business, was arrested in Bologna after checking into a hotel under his own name and triggering an alert to Italy’s authorities.

Financial planning “is still a relatively young profession with a lot of growing pains,” according to the incoming president of the FPA.

The brokerage added five advisors from Wells Fargo and opened three offices.

The firm netted a $668 million profit as executives said it is beginning to see the benefits from its purchase of the final stake in Smith Barney from Citigroup.

Large firms are targeting smaller “lifestyle” advisors who want to remain independent but need resources, guidance and business support from the “substantial ecosystem of solutions” that are now available.

The owner of the world’s biggest brokerage set aside a smaller share of revenue to pay employees at its investment-banking and trading division in the first nine months of the year.

An institute executive told Congress it should consolidate and simplify the types of tax-favored retirement plans now available to small business owners to minimize the cost and administrative burden imposed by the plans.

The firm has added a Florida-based team with over $1 billion in client assets to its independent channel.

Mariner Wealth has jumped into the burgeoning space recently abandoned by LPL’s NestWise.