Assets also increased from Octobers level. On Oct. 30, Alliance had $437 billion under management. Investors shifted out of equities during the past 12 months, the company reported, to fixed income and cash management products. "Year-over-year, growth equities declined 8.25, value equities rose 15.3% and fixed income assets increased 18.9% in the same period, the company said in a statement.
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.
The accusations led to the end of 16 years at the firm.
