Compliance at Financial Services Firms Falls Short
Compliance firm Cipperman finds that firms, especially in the alternatives space, tend not to invest enough in staying compliant.
Customer Demand Drives Banks’ Transformation: KPMG Survey
Nearly a third of banks say wealth management will be a top source of revenue growth in the next few years.
Wells Fargo Grabs 8 Advisors With $1 Billion in Assets
Meanwhile, RIAs affiliated with Focus Financial and LPL add reps.
Top Trends Driving Hedge Funds: KPMG’s Mirsky
The global hedge fund industry is starting to strut again. One hot trend: liquid alternative '40 Act funds aimed at the 401(k) market.
KPMG to Pay SEC $8.2M to Settle Independent Auditor Violations
KPMG broke auditor independence rules by providing prohibited non-audit services to affiliates of companies whose books they were auditing.
SEC, DOL Enforcement: Big Four Accounting Firms Must Disclose China-Related Records
Meanwhile, DOL wins a $10 million settlement in ESOP case and Massachusetts bars an advisor for fraudulent, unethical activities.
4 Big Changes to 401(k)s, IRAs in Obama’s 2014 Budget
The president’s budget blueprint proposes a number of reforms that would mean big changes in how retirement is financed.
New Hire Roundup: IMCA Names Whiting National Sales Director
John Carter of Nationwide was named IRI board chairman, and Tom Petrone became director of capital markets at Dynasty Financial Partners.
New Hire Roundup: Clearbrook Names Leslie Billet Managing Director
Deb Clarke has become Mercer's global head of investment research, and Bruce Graham recently joined CAPTRUST Financial Advisors as a vice president and advisor.
China’s Own Luxury Brands Can’t Keep Up With Foreign Competition
The rise of the high-net-worth consumer in China has been a boon for luxury firms all over the world. But they're buying while traveling, not at home.