LPL Misses Earnings Estimates as Profits Sink 45%
Revenue for Q4 drops 8% to $1.02 billion for the independent broker-dealer.
FINRA Bars 2 Brokers in Hedge Fund Fraud
Brokers told investors the fund was a "growth" fund with risk controls when in reality it was a "highly speculative investment," FINRA says.
Sen. Warren Accuses Annuity Providers of Double Talk on DOL Fiduciary Rule
Warren tells OMB that despite insurers' public "doomsday" predictions about the DOL fiduciary rule, investors are told that all is rosy.
Morgan Stanley Settles Mortgage Case for $3.2 Billion
The settlement addresses misconduct that contributed to the 2008 financial crisis, New York Attorney General Eric Schneiderman says.
Recruiting Roundup: LPL, Stratos Wealth Attract $200M Teams
Two advisors leave Wells Fargo to join the Scottsdale office of Stratos, a growing hybrid RIA.
Amid Volatility, Portfolio Management Is Top Advisor Concern: Fidelity
Advisors have become more concerned about portfolio management since the middle of 2015, according to Fidelity’s Advisor Investment Pulse survey, as market volatility has increased.
SEC Has ‘Open Investigations’ of Private Offerings to Accredited Investors
The SEC is investigating whether some issuers of private placements failed to properly vet accredited investors, Chairwoman Mary Jo White said.
SaveDay to Launch Robo-401(k) for Small Businesses
A new robo-401(k) that targets small-business owners will hit the market this week.
Lisa Dolly Named CEO of Pershing; Lori Hardwick of Envestnet Replaces Her as COO
Pershing veteran Dolly succeeds Ron DeCicco, who will retire. She will be the first female CEO at Pershing.
SEC Proposals Aimed at ETFs May Chase Investors Into ETNs
ETFs holding some $225 billion in assets are likely to violate the new rules and could ironically spark a migration of investors into riskier products.