Fee income

Meanwhile, several top executives at the regulator saw their pay rise in 2023 as compared to the previous year.

“If you have a superb value proposition and an incredible platform, you’re able to give more of that money back to shareholders,” said CEO Jane Fraser.

In the new Form CRS, firms must justify whether they place client assets in advisory or broker accounts.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.

Net flows have slowed in 2020 at the fund giant as rivals continue to roll out similar products amid the rise of robo advisors and almost-free trading.

This year’s report on advisor compensation shows how RIAs and IBDs are attracting, retaining and rewarding talent.

The firm's new suite of eight low-cost ETFs include two funds that are no-fee.

“The only reason why I could see them doing that is shame,” one critic says of the move; the board calls it an important shift in the conversation about fiduciary care.

RIAs already on the platform can stick with the old pricing model or transition to the new one.

Our industry is one of the few that’s barely experienced pricing pressure ... so far. Here's how to assure you keep providing value to clients.

Strategies may include building out RIA channels and cash sweep programs in efforts to make up for revenue declines.

By slashing fees, custodians are also eliminating special ETF platforms they had spent the past five years building out.

The move follows similar offers from other major brokerages in the last two weeks, as firms race to woo clients with the lowest-priced products possible.

The low-cost brokerage followed its competitors for retail clients and will offer the new pricing to RIAs in November.

There’s a showdown looming between financial advisors and the custodians that safeguard their clients’ money. It’s been brewing for some time, and the move by Charles Schwab on Tuesday to offer commission-free trading makes the clash all but inevitable.

It's the latest move in the race to offer products at the lowest possible prices.

Gaining notoriety and AUM is a challenge without a long-term track record, an extensive distribution network and a well-planned marketing strategy.

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

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The custodial bank says it has reimbursed the affected clients with interest.