"The acquisition of WM Advisors represents an exception strategic fit for The Principal," said J. Barry Grisell, chairman and CEO of Principal. "This transaction adds important scale to one of our key asset accumulation businesses. It further strengthens our global asset management capability, and it increases our presence with over 28,000 independent financial advisers."
In addition, he noted, acquisition brings Principal's wholesale distribution staff members to more than 100.
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.
The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
