Economy

The seven advisors managed more than $450 million in combined client assets.

The number is behind previous years, but the firm’s new head of business development says independence is more appealing amid the coronavirus.

Choosing their own technology for clients was a big draw for the advisors, who affiliated with Kestra.

The No. 1 IBD has completed three of the sector’s 10 largest recruiting moves of the year.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies to better gauge which changes in consumer behavior will stick.

Three out of the top four RIA custodians compete directly with their RIA clients through their networks of branch offices and call centers.

The majority of job cuts are in corporate departments, with little impact to advisors or client service roles, the firm says.

It’s the latest team to exit the wirehouse as profit suffers.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.