FINRA Sweeps Broker-Dealers’ Cross-Selling Practices
FINRA focused on nature, scope of BDs’ cross-selling activities and whether they are adequately supervised.
Raymond James, Ameriprise Keeping Commissions in Retirement Accounts
The two BDs, which have nearly 17,000 advisors, won’t relent to DOL fiduciary rule, insisting that investor choice is paramount.
Baird, RBC Wealth Add Advisors From Wells Fargo: Recruiting Roundup
Meanwhile, Raymond James picks up a $1.5 million team from UBS in St. Louis.
How Goldman Sachs Fires Workers
Investment bank must file “WARN notices” in New York; 43 here, 109 there and pretty soon 443 employees are dismissed.
Schwab’s Bettinger Comments Candidly on Robos, Scottrade, Breakaways
CEO says standalone robos will “fade away” and that Schwab passed on Scottrade deal because of the online broker’s transaction-heavy revenue mix.
Ladenburg Thalmann Hosts Female-Advisor Event for IBDs
The women met in Salt Lake City and heard from Col. Jill Morgenthaler and other VIPs.
Ameriprise Misses Estimates, Posts DOL-Related Costs: Q3 Earnings
Its reps now have average fees and commissions of $511,000, which is down 1% from last year.
Errors of Commission: AUM Fees Are Better Business
Broker-dealers' decisions to stop offering commission products in retirement accounts reopens the fees-versus-commissions debate.
DOL Rule Casualty: Commonwealth Drops Commission Retirement Products
Indie BD says the decision was “challenging,” though it makes less than 10% of revenue from commissions on these accounts.
Top Portfolio Products: AssetMark, Fi360’s New Tools to Help Advisors With DOL Rule
In addition, Vestmark unveils a new robo platform and Envestnet to integrate with MoneyGuidePro.