Organization Root Tag

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

The hires hail from Morgan Stanley and Wells Fargo.

The new hires were previously at Merrill Lynch, UBS, and BB&T.

During rapid growth, the firm allegedly failed to detect a cascade of red flags.

If clients “looked just three months ago, these numbers would be glaringly different,” an expert says.

Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities?

“Clients have gotten a good scare,” says Dave Welling, CEO of Mercer Advisors.

Industry groups warn of creeping fiduciary obligations, while consumer advocates see it as a setback for investor protections

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

The initiative is intended to help advisors manage increasingly large and complex teams.

Envestnet’s new Insights Solution provides a look into client spending to surface new planning opportunities.

Such a scenario could "challenge market assumptions both about cyclicality and about eternally negative rates," according to strategists.

A significant push to use the precious metal as portfolio insurance may create a self-reinforcing spiral that upends its appeal as a hedge.

“We do not yet know when we’ll return to a more traditional operating model,” a spokeswoman said.

Because of potential tax and compliance implications, they must tell the company if they are working from a location other than their home address.

The firm’s growth plans come as the industry experiences a new wave of consolidation among custodians and fintechs.

The firm is still determining which other pieces of technology it will retain after acquiring its rival.

The pandemic and work-from-home arrangements are probably spurring larger budgets.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.

The funds have recorded $248 billion in net inflows in 2020, up about 5% from this time last year.