Organization Root Tag

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

Potential customers include hedge funds, crypto miners and over-the-counter trading desks

Alterations include higher hurdles for cash pay, a grid stretch for deferred compensation and new bonuses.

It's typically advised to shift income into the future to reduce tax bills for the current year. But experts say that may not be the best approach.

An employee who left in 2018 said she experienced a barrage of racial and sexual antagonism while at the firm, such that “it is not possible to list all of the comments and conduct in one document."

The firm’s new business highlights the beginnings of a shift in the custody marketplace due to a series of consolidations.

Homogeneous industries and male executives are the primary target clients of the new consultancy, Kathleen Zemaitis says.

Net flows have slowed in 2020 at the fund giant as rivals continue to roll out similar products amid the rise of robo advisors and almost-free trading.

The top 20 outpaced the broader industry and had an average net expense ratio far below the 0.45% investors paid last year.

Jon Stein was a pioneer of the robo advice industry, building a $25 billion firm over the past decade.

The Buffalo, New York location is the independent firm’s 12th nationwide.

The firm also added a new unit to accommodate its dramatic advisor growth — from one to 140 in seven years.

Efforts to diversify boardrooms have taken on new urgency this year as racial unrest called attention to income inequality and pressure mounted on banks and other publicly traded companies to do something about it.

The new hires generated approximately $5 million in production before making the move.

The deal underlines the bank’s focus on Folio's clearing and custody capabilities, as well as its 450 RIAs.

Nate Angelo will be responsible for 137 advisors who manage roughly $20 billion in assets.

The firm’s investment management division is bringing 55ip under its roof just two months since launching a partnership with the fintech firm.

The scale of the withdrawal indicates that the ETF is both being used by large institutions and a favorite with retail investors, an expert says.

The firm has sought to broaden the range of clients it targets with its wealth-advisory services.

The wirehouse is also tweaking pay related to cash solutions for clients.