SEC Fines Morgan Stanley $13M for Overcharging Clients
About 149,000 clients paid excess fees between 2012 and 2016, the regulator says.
Head of Fidelity’s RIA Business to Depart
Bob Oros is set to leave the clearing and custody post he's had for the past five years at the end of January.
Citi to Return $22.5M in Excess Fees
The reimbursement, ordered by the New York Attorney General, affects about 47,000 mutual fund clients.
16 Best Fund Managers of 2016: Morningstar
The list includes big firms (like Vanguard) and some smaller names (such as Parnassus) in four categories.
UBS Hit With Second $18M Ruling Over Puerto Rican Munis
The ruling includes $4 million in punitive damages, while the prior award is being challenged in court.
Mercer Adds New York RIA; 2 Groups Rejoin SII Investments: Recruiting Roundup
The RIA in the Big Apple has $100 million in assets, while the California and New Jersey advisor groups have a total of $220 million.
Morningstar Adds 2 to C-Suite
Tricia Rothschild is now chief product officer; Danny Dunn has joined from IBM to be the firm's first chief revenue officer.
Gundlach, Ribbing ‘Second-Tier’ Managers, Says 3% Is Rate to Watch
The DoubleLine CEO took an apparent shot at Bill Gross while discussing his yearly outlook, which also predicted a stock selloff around Trump’s inauguration.
Barred Broker Pleads Guilty to SEC Obstruction, May Avoid Jail
The former advisor will also pay more than $580,000 in penalties for hiding referral fees from an elderly widow.
Bill Gross: Forget Dow 20K, Here’s the Number to Watch
In his January outlook, Gross discusses "the key to interest rate levels and perhaps stock price levels in 2017."