While reports circulate that the $600 billion settlement that Prudential Financial reached for its part in the market-timing and late-trading mutual fund scandal might signal the end of the past three years of settlements, investors who lost money because of the activity still await payment.
That's more than $3 billion set aside, a "startling discovery," the London Times reports.
SEC regulators instead take aim at their predecessors in the Biden Administration, saying the outsized fines were partly the result of a desire to "pursue media headlines and run up numbers."
One of the asset management firms also took home the independent research firm's overall award for "exemplary stewardship."
Gabe Lapito thinks many RIA owners who sell their businesses are looking for a big check to fund their retirement. But he and his partners, almost all in their 30s or early 40s, instead set their sights on adding new clients and assets.
Advisors with asset minimums find themselves rejecting clients arbitrarily and can often feel disconnected from their clients' planning goals.
The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.
A Wells Fargo executive is using her own cancer diagnosis as a wake-up call and teaching case for financial advisors and their clients' estate plans.
