Economy

Robinhood Markets has snared most of the attention for attracting an army of day traders during the pandemic. But far bigger profits are flowing to the family behind Fidelity Investments in Boston.

The bank had nearly 270,000 employees at the end of last year.

Wealth Enhancement Group’s second acquisition of 2021 comes as experts say there’s an “ever-increasing buyer appetite” for $1 billion-plus firms.

After going public, the clearing firm plans to to grow and nudge further into the traditional advisory space, says its president.

With planners aging and the industry’s demographics still far out of step with the country’s, wealth managers are bulking up their support for new entrants.

Part of a push by the company to open offices in underserved areas, Anthony Williams aims to make it “a pillar” of the community, he says.

The growing practice’s founder dropped his FINRA registration after 14 years with KMS Financial Services.

Self-directed investors have opened more new accounts at the firm in 2021 than in the third and fourth quarters combined.

Robinhood has faced criticism by lawmakers and the public since last month’s surge in trading of certain stocks, driven by retail investors.

The Depository Trust & Clearing Corporation is offering a blueprint for speeding up the settlement process.

Pete Dorsey is the latest member of TD Ameritrade’s leadership team to part ways with the company after it was acquired by Charles Schwab.

The wirehouse picked up a 43-year veteran from its rival.

Prior to the deal, the company had been making deeper forays into traditional wealth management custody.

The wealth manager aims to build connections and take feedback through a new group resembling ones launched by rivals in recent years.

The transaction, which could be announced as early as Monday, will be valued at $4.7 billion, according to people familiar with the matter.

The dispute highlights the complicated nature of non-solicitation carve-outs when advisors switch firms.

The IBD unveiled its second major recruiting addition in as many months to kick off the year.

Both were adamant with House Democrats that their businesses have helped small-time investors access markets that were long the domain of Wall Street.

As wealth managers compete for advisors, the firm picked a former one to lead it.

Just one of the leading 20 mutual funds and exchange-traded products eked out a gain this past decade.