Industry

Several panels and presentations last week at Future Proof focused on the idea of advisors growing their businesses through offering specialized, family office-style services.

Cerity Partners adds its own large RIA in New York, and Beacon Pointe acquires firms in Indiana, Washington State and New York.

Fewer than 3% of U.S. advisory firms report registrations with foreign regulators, and the meager ranks reflect the difficulty of breaking into international markets.

In an opinion sought by Morgan Stanley, the Department of Labor finds the firm's deferred compensation "appears to be a bonus program" used to reward loyalty and good behavior and not a retirement benefit.

As AI use expands in wealth management, so too does regulatory risk. Experts at Future Proof shared what questions RIAs should ask vendors, along with tips on implementing firm-wide AI guardrails.

Raymond James has gone from being one of the lowest payers of third-party recruiters to one of the higher. That's helped it get more "swings at the plate" with teams looking to leave rival firms.

A frequent subject of SEC enforcement complaints and examinations can cause newer firms pain if they don't follow the rules.

Christopher Haigh, founder and CEO of Iconoclastic Capital, isn't afraid to speak his mind — or to change his burgeoning firm's tech stack when necessary.

Also this week, Wells Fargo recruits from LPL, RBC and TD Private Wealth, and Corient moves overseas in a deal that doubles its AUM.