Is Betterment Advisors’ Friend or Foe?
CEO Jon Stein tells crowd at Inside ETFs that their business is complementary, but institutional players like Schwab should beware.
DOL’s Perez: Fiduciary Rule to Be Wrapped Up in ‘Coming Months’
Labor Secretary Thomas Perez also said the White House plans to push for auto-IRAs and boost MEPs in its upcoming 2017 budget.
RCS Capital Names Turnaround Specialist as New CEO
Larry Roth steps down from the post to focus on management of Cetera Financial Group.
Recruiting Roundup: Raymond James Grabs $2M Team from Wells Fargo, Davenport
Meanwhile, Merrill Lynch adds a wealth strategist in Miami; Focus Financial draws large RIA in New York.
Raymond James Misses Estimates, Despite Strong Recruiting
The firm is in the process of acquiring some 200 Alex. Brown advisors from Deutsche Bank.
Schwab, TD Ameritrade Top Estimates on Strong Q4 Asset Gains
Schwab has over $2.5 trillion in assets, while TD Ameritrade has $695 billion.
Market Drop Due to ‘Cracking’ Investor Confidence, Not Recession
Commonwealth’s Brad McMillan argues that even a confidence-driven bear market would be short-lived, especially if corporate earnings hold up.
Docupace Aims to Break Free From RCS Capital
The tech firm wants to follow Cetera Financial's lead in separating itself from its troubled majority owner.
Recruiting Roundup: LPL Adds 25-Branch Bank to Platform
The $750 million group is based in Pennsylvania and recently added a $120 million rep to its wealth operations.
MetLife's Planned Spinoff of Retail Unit Puts Pressure on AIG
Calls from investors, including Carl Icahn, for AIG to split into three insurers to shed SIFI status are expected to intensify.