Digital Client Onboarding: A Key Step Toward Wealth Management Platform Growth
Aite Group describes the increasingly important role of automated client onboarding for financial advisors.
Top Portfolio Products: Global X, Nuveen Add ETFs; Financial Engines Expands Services
Global X introduces three tech ETFs while Nuveen adds bond ETF focused on additional yield.
Pressure Intensifies on Wells Fargo’s Stumpf to Claw Back Pay
Lawmakers cite “multiple grounds” for recouping compensation; Senators’ letter calls out former executive Carrie Tolstedt.
Betterment Played Favorites With Clients After Brexit Vote: Massachusetts Regulator
The regulator is unhappy with the unequal treatment of Betterment’s retail and institutional clients during the firm’s trading halt following Brexit.
U.K. Official: No Brexit Negotiations This Year; U.S. Groups Want Transition Period
A British official overseeing trade policy told a SIFMA symposium that the U.K. will “definitely not” begin the process of exiting the EU before year end.
Merrill Hires 3 New York Advisors From UBS
Bank of America-Merrill Lynch has recruited three veteran financial advisors from UBS with combined client assets of $750 million.
$550M Merrill Team Goes Indie With Dynasty in Florida
Also, Raymond James and Wells Fargo add several Morgan Stanley reps; Pavilion Financial to buy Jeffrey Slocum & Associates.
Wells Fargo Drops Product Sales Goals for Retail Bankers
Step taken after CFPB fines bank for creating fake accounts; Treasury Secretary Lew says scandal shows need for CFPB.
$2.2B Morgan Stanley Group Leaves to Form RIA
The Wichita, Kansas, firm will serve about 900 families in Kansas and work with Pershing Advisor Solutions.
Top Portfolio Products: New Funds from Fidelity, CBOE Vest and Direxion
Fidelity introduced six factor-based ETFs, CBOE Vest added a defensive stock fund and Direxion launched two leveraged ETFs.