Top Portfolio Products: Schwab, BlackRock Introduce New Funds
Schwab introduced a very low-cost line of target date funds; BlackRock added a social impact bond fund.
FINRA Enforcement: RBC Fined Over Arb Agreement
In another action, Oppenheimer & Co. was censured and fined for inaccurately reporting, or failing to report, short positions.
Recruiting Roundup: Dynasty Nabs Wirehouse Exec to Head Investments
In other news, Wells Fargo recruits an advisor from a rival firm, but loses one to boutique group.
Fidelity Launches Global Real Estate Fund; iSectors Adds Growth ETF
The Fidelity real estate fund launch is timed to coincide with a change in the S&P 500 that makes real estate a stand-alone sector.
Enforcement: Goldman Trader Barred for Misleading Customers
In another action, Ameriprise was censured and fined by FINRA for failing to supervise its registered reps’ sales of closed-end funds.
Recruiting Roundup: Dynasty, Triad Pick Up Large Advisor Groups
Meanwhile, Merrill Lynch & U.S. Trust report their newest registered reps.
Top Portfolio Products: Nuveen Launches Alternative Investment Platform
The platform, using technology from Artivest, lets advisors allocate alternative investments across client portfolios and monitor their performance.
Enforcement: Advisor Inflated AUM, Stole From Client, SEC Says
Meanwhile, the SEC fined a company for its anti-whistleblower policy.
Recruiting Roundup: Raymond James, Cetera Add Groups
Meanwhile, two RIAs merge to form group with $13 billion in client assets.
Top Portfolio Products: New Bond, Macro and Real Estate Funds
The new fund sponsors are American Funds, Franklin Templeton with K2 and CAPFUNDR with Hamilton Real Estate Capital.