Morgan Stanley Reaches $4.7M Settlement With State of Mississippi
Investors at its Ridgeland branch, where client risk tolerance data was entered incorrectly, will get $4.2 million.
Recruiting Roundup: Dynasty, Triad Pick Up Large Advisor Groups
Meanwhile, Merrill Lynch & U.S. Trust report their newest registered reps.
Hearsay Launches New Social Media Tool for Advisors
The platform tracks client communications, suggests steps for advisors to take and gives broker-dealers data for building best practices.
Morgan Stanley Targeted by ValueAct as Core, Active Stake
Activist Jeff Ubben’s ValueAct Capital Management, attracted by the investment bank’s post-crisis shift toward fee-based businesses, has disclosed a new 2% stake.
Top Portfolio Products: Nuveen Launches Alternative Investment Platform
The platform, using technology from Artivest, lets advisors allocate alternative investments across client portfolios and monitor their performance.
Morningstar to Help BDs Manage Small 401(k)s
Morningstar Plan Advantage will let broker-dealers offload the fiduciary responsibility of managing defined contribution retirement plans.
Dynasty Financial Rolls Out Framework for Expanding RIAs
The partnership aims to help more advisors grow assets by taking on their growing back-office work.
Wells Fargo Taps New Head of Advisor Group
David Kowach replaces Mary Mack, who is now in charge of the company's retail banking business.
Recruiting Roundup: Raymond James, Cetera Add Groups
Meanwhile, two RIAs merge to form group with $13 billion in client assets.
Morgan Stanley to Pay Fired Rep $2.4M, Clear His Record
FINRA arbitration panel rules the wirehouse made "defamatory statements" to clients of a Florida advisor let go in 2014.