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WEB4 days ago · When Clients Can’t Speak for Themselves. From healthcare directives to powers of attorney, clients should never be caught unprepared when the unexpected occurs. Financial advisors can help. This is part four of Financial Advisor IQ’s special report on generational wealth.
Morgan Stanley Boosts Referral Incentives in ’25 Comp Plan
WEBMay 30, 2023 · On May 19, Brewer agreed to a 45-calendar-day suspension and a fine of $5,000 without admitting or denying the findings, Finra said. The industry's self-regulator added that it initiated the action against Brewer based on a report submitted by Wells in which it disclosed that Brewer had filed a form naming a family friend as the beneficiary of ...
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WEBJul 29, 2022 · Home Office News: Morgan Stanley Simplifies Fees, Merrill Gaining More Clients Under 40, and More. A roundup of key updates from major broker-dealers, registered investment advisors, custodians and other distributors.
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WEBMay 8, 2024 · An ex–Fidelity Brokerage Services financial advisor has filed a whistleblower lawsuit alleging that he was fired for resisting pressure to steer clients toward higher-fee investment products in violation of the Securities and Exchange Commission's Regulation Best Interest. Advisor Michael Maeker, who was discharged by Fidelity in December 2022 after 24 years with the firm, claims that he and ...
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WEBJun 29, 2022 · The president of Merrill Lynch Wealth Management had a stint in the White House prior to embarking on his career in finance. Andy Sieg was born in 1968 in Centre County, Pennsylvania, and grew up in the small town of Bellefonte with his parents and two brothers. "My parents were from Bellefonte, they had grown up there," he said during an ...
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WEBDec 7, 2023 · The Department of Labor's new proposed fiduciary rule could trigger "a wave of consolidation" in the industry and accelerate the trend in assets shifting from brokerage to advisory, both of which can benefit a firm such as LPL Financial, according to its president and chief executive officer Dan Arnold.. The latest fiduciary proposal was announced by the DOL at the end of October.
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WEBSep 4, 2024 · Charles Schwab, like many of its Wall Street peers, is facing a putative class action lawsuit related to its cash sweep program — albeit with a twist.These plaintiffs are accusing the firm of using customers' idle cash to help cover its 2020 acquisition of TD Ameritrade.. The suit's complaint, filed last week in the U.S. District Court for the Central District of California, accuses the ...
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WEBBy Brianna Monsanto | July 19, 2023. Executives at Charles Schwab painted a rosy picture of the firm's quarterly results Tuesday, touting progress on its TD Ameritrade integration and the abatement of client cash outflows that had spiked in the recent banking crisis. The company's stock surged despite the firm posting lagging quarterly revenues ...
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WEBSep 3, 2024 · One step home offices are taking is authorizing only the most qualified advisors to operate with discretion for picking investments in these programs. For example, fewer than 30% of Raymond James advisors are approved for discretion. Firms are also looking to add more tools and support for these advisors. From 2020 to 2024, the percentage of ...
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WEBMar 6, 2024 · An ex–J.P. Morgan Securities financial advisor has asserted allegations of racial discrimination against the bank in a lawsuit filed this week. Indianapolis-based advisor Mickealin Cassell, a Black man, claims that he was denied the opportunity to apply for a job at a better location with a sizable inherited book of business because of his race, according to the complaint, filed Tuesday in ...