Raymond James, RBC Add Advisors, Exec from Wells Fargo: Recruiting Roundup
Wells Fargo Advisors says it lost over 3% of its FAs over the past 12 months and 1% in the last quarter.
FINRA Fines Edward Jones for Supervisory Failures
The broker-dealer issued some 52 million client reports without required supervision, the regulator says.
IndexIQ Lowers Fees for 3 Currency-Hedged ETFs: Portfolio Products
Also, OppenheimerFunds and Direxion add ETFs; Harvest and Foundation Source launch continuing ed programs.
LPL Names 20 Fund Families on New Fiduciary-Friendly Platform
Some familiar names make the list of no-load mutual funds that will be offered, with several notable exceptions.
Double-Digit Earnings Gains Will Be Tough in Q2: LPL’s White
Analysts are upbeat but not exuberant in terms of their expectations for the overall earnings season.
Dynasty Nabs $1B Breakaway Team From Merrill: Recruiting Roundup
Meanwhile, UBS brings on two teams with a total of $975 million in assets from Merrill's Thundering Herd.
SEC Chief Wants Public Input on a New Fiduciary Rule Before Starting
In his first major speech as chairman, Jay Clayton also suggested easing disclosure requirements for publicly traded companies.
Fidelity Is Said to Dismiss Hundreds of Workers, Axios Reports
Fidelity declined to comment on the report by Axios, which was founded by former Politico veterans Jim VandeHei, CEO, and reporter Mike Allen.
Rep. Wagner Drafts Bill to Kill DOL Fiduciary Rule
Rep. Ann Wagner’s bill seeks to replace the rule with a best interest standard on BDs’ investment recommendations.
Raymond James Trims Comp Grid for Employee Reps
The cuts will range from 1% to 4% depending on production of reps.