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.
Top Portfolio Products: New Bond, Macro and Real Estate Funds
The new fund sponsors are American Funds, Franklin Templeton with K2 and CAPFUNDR with Hamilton Real Estate Capital.
Ex-Wells Fargo Rep Must Pay Firm $1.2M
FINRA says advisor Robert Loftus must cover promissory notes, interest and legal costs.
BofA Sees Digital Payments Cutting $1 Billion Cash-Handling Cost
"The more electronification, the less people," CEO Brian Moynihan says.