Organization Root Tag

The widespread popularity of the compensation descriptor, long ballyhooed by RIAs, ultimately proved problematic for the CFP Board which has updated its standards.

Northwestern Mutual’s practices raise difficult questions about the nature of retail advice just as wealth management faces greater scrutiny under new rules.

Candidates will be allowed “two tissues” while testing at home and are advised to have bed linen handy.

The company allocated $5.1 billion for loan losses in the second quarter, the most since 2010.

Wealth management profits fell, but a steep rise in transactional business offset some of the decline.

“The face of our industry is typically not me,” says the Vanguard and DFA veteran. “I thought about how many young people that I could inspire. So I raised my hand.”

Mortgage rates slid further this week, as the conforming 30-year fixed loan fell below the 3% mark for the first time in the 50 years Freddie Mac has tracked this information.

Fixed-income trading revenue almost tripled, driving a 73% jump in total trading that surged past expectations.

Investors may be put off by the costs associated with these funds, which had an average expense ratio of more than triple their peers.

The shift comes after the bank reported its first quarterly loss since 2008.

The 4,000-person regulator in March was one of the first federal agencies to tell employees to stay home due to the public health emergency.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.

Earlier this year, FINRA arbitrators granted the former advisor’s expungement request, but still sided with the firm on its demands for repayment of two promissory notes.

It’s the second consecutive quarter that trading set a record, as the bank’s Wall Street unit is helping prop up the consumer-lending division.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

Chief information officer Frank LaQuinta reveals the firm’s $500 million acceleration strategy, plus how advisors are using technology during the coronavirus pandemic.

The advisors are based in Florida, while the new executive will oversee the New York tri-state area.

U.S. officials have raised questions about the security of TikTok, which is owned by Chinese company ByteDance.

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.