Citizens Bank

In an investor-backed power play, the tech startup wants wirehouses and banks to turn to it instead of traditional software providers as they make upgrades.

The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.

The bank recruited a wealth executive from J.P. Morgan Chase to “continue accelerating the unit’s pace of growth,” it said.

The math works: Banks get a boost to their growth plans, while independent advisors get one more option for their succession planning.

The bank's retail brokerage business sold customers shares in mutual funds with front- or back-end sales charges when they were eligible for Class A shares that waived the upfront sales load, FINRA claimed.

The new offering has been rolled out to roughly half of the 2.65 million households the bank serves, with the remainder to come on board by the end of September.

The rep took more than $1,500 from the bank's cash drawer over a three-month period beginning on New Year's Eve last year, FINRA claimed.

The rep claimed the firm misled him when they recruited him from PNC Bank.

Digital advice can help bank customers engage in a range of financial decisions that go beyond retirement planning and wealth management.

We've sliced and diced our top bank advisers to list the banks and TPMs based on the number of our winners in their ranks.

Customers who were eligible for Class A shares in certain mutual funds without a front-end sales charge were either not given the sales charge waiver or sold more expensive Class B or C shares, FINRA claimed.

Brokerage revenue is likely to drop for three to five years.

The regulator reprimanded Citizens’ retail brokerage for not amending reps' Forms U4 and U5 within 30 days of learning of complaints.

The sales mix for the wealth management business is shifting from commission-based to more fee-based products, which hurts revenue in the short term.

The bank's digital investing service will be available online and by mobile phone through a partnership with robo adviser SigFig.

Robo advisers may have found the answer to a lingering problem for the financial industry: serving the mass-affluent in a profitable way.

The bank's heavy concentration of mass-affluent customers gives it a strong advantage over its rivals, Citizens claims.

The broker allegedly swiped $1,035 from the bank by using a fee-rebate system to wrongfully move funds into his checking and savings accounts.