Ex-BofA Wealth Exec Charged in $2.7M Charity, AIDS Scam
Executive and her husband are accused of grabbing bank’s charitable donations and of fraud affecting HIV/AIDS children’s charities.
McConnell Pessimistic That Congress Will Revamp Dodd-Frank
Senate leader says Democrats uninterested in overhauling financial rules; any big changes may fall to regulators, he adds.
How Morgan Stanley Is Changing Its Advisor Business Model
The expected big change to a different business model brings big challenges to advisors, Morgan’s Jim Tracy tells ThinkAdvisor.
Can This Fee Structure Save Actively Managed Funds?
A new series of funds AllianceBernstein expects to launch this year charge full fees only if they outperform.
UBS to Give Advisors BlackRock’s Aladdin Risk Tools
It also will share Solium Capital’s equity-compensation technology with a subgroup of its 7,000 reps.
In Reversal, Merrill OKs Retirement Account Commissions in 'Limited Situations'
Wealth chief Andy Sieg shares details on the cases in which advisors can charge commissions via BIC.
Wells Fargo Doubles Cost Slashing as Scandal Spurs Tech Push
Bank says it will eliminate $4 billion of expenses by 2019; management abandons longstanding target for efficiency ratio.
Arkadios Capital Nabs $1.8B Triad RIA, LPL Grabs $420 Merrill Team
Meanwhile, Kovack Securities buys broker-dealer with $200 million and seven advisors.
Financial Services Is Industry Most at Risk for a Mega-Cyberattack: AIG Survey
The survey of cybersecurity experts found that an attack on 5-10 companies simultaneously is highly likely this year, and much broader attacks are possible.
Buffett Says Wells Fargo 'Totally Wrong' in Approach to Scandal
Bank failed to act promptly when problems flagged, Buffett says; Berkshire is largest shareholder in Wells Fargo.