Compliance Costs May Be Strangling BDs, Regulators Say
"Differentiation in our rules, or differentiation in the way we oversee firms" may accomodate small firms without compromising investor protection, FINRA chief Cook said.
Raymond James' Wealth Group Boosts Profits 56%
The number of advisors jumps 451 from a year ago to nearly 7,300.
Fidelity Clearing to Partner With Goldman, US Bank; Expand Loans to Wealth Clients
RIAs, broker-dealers and family offices will be able to offer securities-based loans of up to $25 million through the program.
FINRA Names Schroeder New Enforcement Head, Plans New Unit
The unit will ensure a "uniform approach to charging and sanctions" and help FINRA "better target developing issues."
$2M Wells Fargo Team Moves to Janney
The recruiting news comes just days after a scathing report about the bank's release of private information on 50,000 clients and advisors.
Seward & Kissel Launches Regulatory Compliance Service: Portfolio Products
Also, GuideStone Funds introduces a strategic alternatives fund and USCF launched two three-times leverage oil funds.
Morningstar, MMI Launch Sustainable Investing Initiative
The program is focused on educating financial advisors about ESG investments because an increasing number of clients are demanding them.
Ameriprise Adds $463M Employee Team From Merrill Lynch
The three new advisors are based in Northern California and come on board with four other professionals.
Top-Rated 529 College Savings Plans: Savingforcollege.com
There are 17 plans with top rankings based on their flexibility, costs, investment performance and more.
Schwab’s Robo-Related Assets Surge to $19.4B in Q2
Meanwhile, TD Ameritrade says its total client assets jumped 20% from last year.