Why Individual Investors Support Fiduciary Rule: Financial Engines Survey
A survey from the nation's biggest 401(k) advisor found that 93% of Americans want advisors working on retirement accounts to put client interests first.
Raymond James’ Semi-Indie Channel Grabs $700M Team From Wells Fargo
A team of four advisors leaves Wells’ Profit-Formula Group to join Advisor Select in Huntsville, Alabama.
BofA Profit Jumps in Q1 as Wealth Unit’s Asset Flows Top $29B
The number of advisors in the Thundering Herd, though, falls below 14,500 as more reps retire.
What to Make of Merrill's Reorg, New Ads
Is Merrill Lynch — now led by Andy Sieg — wrestling with issues tied to the DOL's new fiduciary rule?
Morgan Stanley Fined $1 Million Over Loan Sales Incentives: Enforcement
In other enforcement actions, the SEC charges two lawyers and a paralegal in a stock manipulation scheme.
Morningstar Pushes Change in DOL Fiduciary Rule Enforcement
The fund rating agency suggests a third-party audit of firms’ “big data” to check if individual portfolios are providing a “best interest standard of advice.”
Merrill Lynch Adds Duo From Wells Fargo Private Bank: Recruiting Roundup
Meanwhile, the $600 million investment arm of Prosperity Bank affiliates with Raymond James Institutions unit.
Wall Street Critic Says Stop Beating Up Wall Street
Bestselling author WIlliam Cohan talks to ThinkAdvisor about better ways to change Wall Street's bad behavior and why clients are responsible for choosing trustworthy advisors.
JPMorgan Delays Moving Wealth Clients Amid DOL Limbo
With uncertainty surrounding the DOL fiduciary rule, the bank says that its customers can keep using financial advisors.
Why a Diluted Fiduciary Rule Is Bad for Advisors: Betterment, CFP Board
Betterment, CFP Board and Consumer Federation say that a watered-down rule could hurt not just investors but advisors, and they discuss what could happen next.