LPL Financial Services has partnered with Fiduciary360 in a program under which LPL-affiliated advisors who wish to provide consulting services to retirement plan sponsors must first earn fi360′s Accredited Investment Fiduciary designation.
…Two major California wealth management firms–Kochis Fitz of San Francisco and Quintile Wealth Management of Los Angeles–say they will merge their two firms.
…Fidelity Institutional Wealth Services reported that total client assets under administration reached a record $325 billion, up more than 50% from the prior year. Fidelity’s client assets have increased at a compound annual growth rate of 40% over the past five years. Fidelity Institutional Wealth Services also reported a record $28 billion in net new client assets in the third quarter, and has realized $65 billion in net new client assets year-to-date.