Janet Levaux

Career Moves

LPL Nabs Team of 4 Women From Rival

September 25, 2018

The team specializes in tax issues, and many of their clients are women, including widows.

News

Ultra-Rich Families Ride Stocks Surge to Double Annual Gains

September 25, 2018

Family offices returned 15.5% on average last year; UBS and Campden Wealth Surveyed 311 family offices globally.

Economy & Markets

Emerging Markets Facing Trade Reality Check

September 24, 2018

'Pressure on EM will remain, as the U.S.-China trade tensions continue to simmer in the background, said one Singapore-based analyst.

Wealth Manager News & Advice

$1.4B Goldman Advisor Starts Firm With Dynasty

September 24, 2018

Gary Hirschberg, 39, now leads Chicago-based Aaron Wealth Advisors.

News

Frost Out as Ladenburg Chairman

September 21, 2018

He steps down in the wake of fraud charges at another firm he leads.

News

Wells Fargo CEO 'Should Be Fired,' Sen. Warren Says; Wells' Fundamentals Questioned by Analysts

September 21, 2018

The bank said earlier this week it could trim up to 26,500 jobs; some financial results look poised to weaken further, according to a recent equity report.

NextGen Advisor

How to Grow Your Business and Meet Rising Client Expectations

September 20, 2018

Industry veterans Dan Skiles and Deborah Fox will share new tech strategies in a Sept. 25 webinar.

Career Moves

Wealthcare Taps Industry Veteran as President

September 20, 2018

The fintech firm aims to grow its base of 70-plus affiliated advisors and $2 billion in assets.

Career Moves

RBC Brings on $500M Commonwealth Team: Recruiting Roundup

September 19, 2018

LPL Financial, Kestra, Stifel and Ameriprise announce their latest hires and Larry Roth lands a board seat.

Alternative Investments

BofA to Sell $20B Alt Operations to iCapital

September 19, 2018

The sale will help Bank of America further simplify its operations.

News

Fintech Firm Rolls Out New Cybersecurity Platform

September 19, 2018

Entreda aims to help broker-dealers, RIAs and advisors, nearly 75% of whom have been the target of a cyberattack.

News

Wells Fargo Reached Out to Gary Cohn About CEO Role: Report

September 19, 2018

Troubles continue to plague the embattled bank, which disputes assertions in a New York Post story.

Economy & Markets

Yields Surge on Rising Expectations of Fed Rate Hikes

September 19, 2018

Two-year yields surge to decade highs as two hikes priced in; divide remains for peak rate as Fed sees 3.4%, market 2.8%.

Economy & Markets

Tesla Facing Criminal Probe Over Musk Statements

September 18, 2018

Company got document request and is cooperating; inquiry started after CEO claimed he had funding to go private.

Wealth Manager News & Advice

Wealth Enhancement Group to Buy OneSource Retirement Advisors

September 18, 2018

Earlier in 2018, Lightyear Capital-based WEG acquired Cimino Wealth Advisors of Clinton, Wisconsin, and Retirement Strategies of Jacksonville, Florida.

Economy & Markets

Credit Suisse Has a Derivative for Every Stock-Market Nightmare

September 18, 2018

Hybrid options envision domino effect toppling S&P 500 rally; correlation between assets unpredictable, a reason for caution.

Independent Broker-Dealers

HD Vest Rolling Out Envestnet Portfolio, Other Tools for Its Advisors

September 13, 2018

Advisors using HD Vest's platform can now access Envestnet tools for model management, UMAs and more.

Independent Broker-Dealers

HD Vest, Envestnet Link Up on Expanded Advisor Platform

September 13, 2018

The 3,700 affiliated advisors can access resources for model management, proposal generation, UMAs, online reporting and more.

Alternative Investments

Morgan Stanley to Offer Bitcoin Swap Trading

September 13, 2018

Investors will be able to go long or short using so-called price return swaps; the firm will charge a spread for each transaction, according to a source.

News

Raymond James, RBC Wealth Nab Wirehouse Reps: Recruiting Roundup

September 12, 2018

Meanwhile, Ameriprise Financial adds a multigenerational team with close to $100 million in assets.

ETFs

Vanguard Names Its First Risk Chief

September 12, 2018

The $5 trillion asset manager taps the head of its Equity Index Group, Joseph P. Brennan.

Commentary

Lessons From SEC's Action on Leveraged ETPs, Cadaret Grant

September 12, 2018

A review of issues for firms to consider as they develop supervisory procedures around leveraged or inverse exchange products.

News

Larry Roth Rides 'Tailwinds' to Launch Consulting Firm

September 12, 2018

The ex-Cetera CEO tells ThinkAdvisor about his new role and what he sees in the immediate future for advisors and their practices.

Economy & Markets

JPMorgan's Dimon Backtracks on Bragging He Could Beat Trump

September 12, 2018

'I’m as tough as he is, I’m smarter than he is,' the bank leader says at first, but later explains in an official statement, 'I should not have said it.'

Alternative Investments

SEC Will Reimburse Retail Investors Hurt by Leveraged Oil Note

September 11, 2018

Broker-dealer Cadaret Grant recommended inappropriate investments, regulators say, and will pay $500,000 penalty plus disgorgement, interest.

News

LPL-Affiliated Group Adds 7 Advisors in Texas

September 11, 2018

Genesis Wealth has about $300 million in assets and expects to hit $500 million next year, according to one of its 12 advisors.

News

Fleming's Rockefeller Said to Target Silicon Valley Wealth Firm

September 11, 2018

The firm, led by the former leader of Morgan Stanley's financial advisors, is in talks to acquire CTC|myCFO assets and aims to buy more wealth companies on the West Coast.

Investing Theory & Strategy

Brinker Cap Drops HNW Account Minimum, Adds Execs From TD, Morgan Stanley

September 10, 2018

The RIA cuts the investment minimum of its Wealth Advisory services in half, to $1 million.

Alternative Investments

2 Crypto Products Suspended by SEC Over ETF Confusion

September 10, 2018

Trading of Bitcoin Tracker One and Ether Tracker One have been halted.

News

Citi Seeks Credit Markets Edge With New Fintech Investment Group

September 10, 2018

The venture will focus on technologies related to trading infrastructure, data analysis, artificial intelligence and machine learning.

Wealth Manager News & Advice

3 Top Succession Strategies for Advisors: Which One's Right for You?

September 10, 2018

The first step in developing a succession plan is choosing a strategy that fits your practice and time horizon.

Legal & Compliance

Kevin Garnett Sues for Fraud Involving Tim Duncan's Ex-Advisor

September 07, 2018

The advisor, Charles Banks, is in prison for defrauding Duncan, an ex-NBA player.

News

$300M Advisor Accuses UBS of Gender Discrimination

September 07, 2018

Lawyers point to a shift to subtle from brazen discrimination; women accuse firms of freezing them out of lucrative accounts.

RIA News

Schwab's Tech Pivot Is All the Buzz, but …

September 06, 2018

Does the move away from a multi-custodial, cloud-based portfolio tool mean the firm is “throwing in the towel?"

TD Ameritrade Adds 5 ESG Portfolios to Robo Platform

September 06, 2018

The firm finds that nearly half of investors, including 60% of millennials, believe socially responsible investing is important.

Wirehouse Brokers

Wells Fargo Said to Face DOJ Probe of Wholesale-Banking Business

September 06, 2018

The Department of Justice investigation is focusing on concerns that bank employees improperly altered customer data.

News

Ladenburg Adds Kestler Annuity Business

September 06, 2018

The group being bought has selling agreements with over 20 independent broker-dealers, RIAs and other firms.

News

RBC Wealth Adds $425M Duo From Merrill: Recruiting Roundup

September 05, 2018

Meanwhile, a member of Dynasty Financial Partners’ network recruits a rep from Wells Fargo Advisors; Ameriprise pulls in advisors from AXA and Oppenheimer.

News

Morgan Stanley Nabs Betterment Exec

September 05, 2018

The wirehouse hires CMO Paul Halpern to work on digital banking and wealth management sales.

News

Janney Adds 5 Wells Fargo Reps With $445M

September 04, 2018

The veteran advisors have over 120 years of combined industry experience and come on board in Connecticut and New York.

ETFs

Fidelity Zero-Fee Funds Lure Nearly $1B in First Month

September 04, 2018

Fidelity has about $400 billion in passive assets firmwide.

Retirement

Merrill to bring back commissions in retirement accounts

September 03, 2018

Merrill has been tinkering with the ban, enacted in response to the DOL fiduciary rule, as the regulatory winds have shifted.

News

Wells Fargo’s Latest Woe Is Gender Bias in Wealth Unit: Report

August 31, 2018

Female regional managers met recently to find ways to boost their numbers and discuss biases in male leadership.

News

Wells Fargo Reviewing Bankers' Alleged Expense Violations

August 30, 2018

Meal-reimbursement policies were violated, spokeswoman says; company has been trying to overhaul its internal culture.

Wirehouse Brokers

Merrill to Bring Back Commissions in Retirement Accounts

August 30, 2018

Merrill has been tinkering with the ban, enacted in response to the DOL fiduciary rule, as the regulatory winds have shifted.

Commonwealth Picks Up 2 Groups With $1.1B; LPL Affiliate Adds $1B via Teams: Recruiting Roundup

August 30, 2018

Commonwealth Financial Network says Integrated Equity Management of Bloomington, Minnesota, is now part of its network of independent financial advisors.…

News

Raymond James Names New Exec

August 29, 2018

The news comes two months after Scott Curtis was named head of the firm's Private Client Group, which has over 7,700 advisors.

News

Advisor Group Pledges to Speak to Female Candidates for Exec Posts

August 28, 2018

The firm, which signed the ParityPledge, says seven of its top 16 executive roles are held by women.

There’s a New ‘Best’ Size for Optimal Growth

August 28, 2018

A new Dynasty/Advisor Growth study found that optimal size for RIAs is much greater than the industry’s conventional wisdom.

Editor's Note: Broker-Dealer Insights

August 28, 2018

We are pleased to share these insights from the four winners of the Broker-Dealer of the Year Awards.

2018 Broker-Dealers of the Year: The Private Club

August 28, 2018

The Broker-Dealer of the Year winners discuss industry consolidation, competitive pressures, innovation and more.

Economy & Markets

12 Best & Worst Broker-Dealers: Q2 Earnings, 2018

August 27, 2018

Several firms had a notable turnaround in their performance this quarter.

Wirehouse Brokers

As Scandals Keep Coming, Wells Fargo Names New FiNet Managers

August 27, 2018

Wells Fargo will likely face recruiting difficulties “until the bad news is flushed out,” recruiter Jon Henschen says.

Economy & Markets

Will the Market Crash If Trump Is Impeached?

August 23, 2018

Combined profit in the S&P 500 has soared under his policies; analysts debate whether any of that would be lost if he were gone.

News

Raymond James Grabs $1B Wells Fargo Team, $235M Merrill Group: Recruiting Roundup

August 23, 2018

RBC Wealth Management said a team with $390 million and an advisor with $170 million have been recruited from Wells Fargo; Janney picks up a Merrill group with $235 million.

News

JPMorgan Offers Free Trades as Fight for Retail Investors Builds

August 21, 2018

Shares of TD Ameritrade, Charles Schwab decline after bank says it will offer 100 free trades in first year, free research.

News

BD Hit With $5.5M Fine Over Short Sales

August 20, 2018

FINRA says Interactive Brokers “internally identified the problems, yet did not revise its supervisory systems for more than three years."

Wealth Manager News & Advice

HighTower CEO to Step Down, Become Chairman

August 20, 2018

The move comes several months after private equity firm Thomas H. Lee Partners bought a stake in the RIA consolidator.

News

Ladenburg Gives Reps New Succession, M&A and Other Tools

August 17, 2018

The platform includes access to coaching.

Economy & Markets

Louisiana Bans BofA, Citi from Bond Sale Over Gun Policies

August 17, 2018

Commission votes to exclude top U.S. underwriters from deal; bank policies seen ‘infringement on the rights’ of residents.

Economy & Markets

Trump Wants SEC to Study Ending Quarterly Earnings

August 17, 2018

The CEO who urged the president to look into 6-month reporting is PepsiCo’s Indra Nooyi.

Wealth Manager News & Advice

Advisors Have a Major Blind Spot on Retirement Income Planning

August 16, 2018

Clients' needs in the distribution phase are just as varied as in the accumulation phase. Here are three ways to adapt.

News

Raymond James, Affiliate Add 4 Wells Fargo Reps With $662M: Recruiting Roundup

August 15, 2018

Meanwhile, a duo of Wells Fargo advisors move to Ameriprise Financial in California with some $161 million in assets.

News

Credit Suisse Is Splitting Its Main Wealth Unit Into 7 Regions

August 14, 2018

The bank is said to be giving more autonomy to regions; announcement on split could come this week.

Wirehouse Brokers

With New Scandal Details, Wells Fargo Testing Investor Patience

August 13, 2018

Now the U.S. is probing the bank’s purchases of low-income housing credits.

News

Ex-Smith Barney CEO Joins Steward Board

August 13, 2018

Charlie Johnston will support the Raymond James indie affiliate, which has about $10 billion in assets and 100 advisors.

News

SEC Review of Musk Tesla Tweets Likely to Focus on Truthfulness: Report

August 09, 2018

Regulator queries company on messages’ accuracy, according to a report; agency’s rules allow for announcements using social media.

News

Woodbury Adds 2 Teams With $378M in Assets: Recruiting Roundup

August 09, 2018

Raymond James brings on a father-son team from Stifel with roughly $141 million.

Wealth Manager News & Advice

Merrill vs. Morgan Stanley: Q2 Results

August 08, 2018

Here's how the two biggest Wall Street firms are doing in terms of advisor headcount, production, assets and more.

News

IRS Targets Loopholes for Business-Owner Tax Break

August 08, 2018

Treasury officials say the “crack and pack” technique is abusive.

News

NY Congressman Collins and Son Charged With Insider Trading

August 08, 2018

Collins is the first sitting congressman charged with insider trading, the U.S. says.

News

RIA Alert: There's a New 'Best Size' for Optimal Growth

August 07, 2018

Dynasty Financial Partners and Advisor Growth Strategies uncover data that differ from conventional industry benchmarks.

Wealth Manager News & Advice

Baird Taps New Wealth Exec

August 06, 2018

In her new role, Laura Thurow will lead staff, platforms and back-office support for the firm’s 850 financial advisors.

Wealth Manager News & Advice

Merrill Advisors Drop Reuters for FactSet Market Data

August 06, 2018

The nearly 15,000 advisors, who have average yearly fees & commissions of about $1 million, will make the switch in the fourth quarter.

Wirehouse Brokers

Wells Fargo Discloses Tax-Credit Probe, Accidental Foreclosures

August 04, 2018

Lender says U.S. agencies are examining purchases of credits; separate review finds miscalculation led to 400 foreclosures.

RIA News

Post-IPO Focus Financial Adds $3.5B Group

August 03, 2018

With the initial public offering, the RIA industry has “a great real success story,” according to one industry consultant.

Alternative Investments

SEC's New Crypto Czar Wants Coin Industry to Step Out of Shadows

August 02, 2018

Valerie Szczepanick tries to get firms to talk to regulators; a key challenge is Bitcoin enthusiasts’ distrust of government.

News

$550M Wells Fargo Group Moves to Raymond James: Recruiting Roundup

August 02, 2018

Plus, Dynasty Financial Partners helps Michael Henley and several other Merrill Lynch advisors go independent.

Wirehouse Brokers

Wells Fargo to Pay $2.09 Billion to End U.S. Mortgage Probe

August 01, 2018

Investors suffered billions of dollars in losses on securities that contained the debts.

News

Morgan Stanley Rolls Out 2019 Comp Plan

July 31, 2018

The wirehouse tells its 16,300 advisors what incentives it is going to add next year to get clients to add products and services.

Wealth Manager News & Advice

Details Emerge on Troubles at Wells Fargo Wealth Unit

July 30, 2018

Two whistleblower letters cited sales goals that led employees to push products with more fees, The Wall Street Journal reported.

Best & Worst Firms for Advisors: J.D. Power

July 30, 2018

Plus, Raymond James and Commonwealth Financial announce executive promotions.

The Story Behind Wells Fargo's Troubles

July 30, 2018

Though the fun of the World Cup soccer tournament is over, the summer of 2018 continues — with some issues heating up. Federal Reserve Chairman Jerome…

Wirehouse Brokers

A Timeline of Wells Fargo’s Scandals

July 30, 2018

Starting in 2016, regulators called out Wells Fargo, stating employees created several million unauthorized bank and credit card accounts without client knowledge. Since then, there's been a steady stream of newsworthy developments.

Economy & Markets

El-Erian Says U.S. Alone Has Exited the ‘New Normal’

July 30, 2018

U.S. finding ‘higher growth equilibrium’ of 2.5% to 3%; Federal Reserve can ‘safely’ hike as neutral rate rises.

Mutual Funds

When Will Wells Fargo's Scandals End?

July 30, 2018

As the bad news and advisor departures continue, experts debate Wells Fargo's future and what the wealth industry can learn from its scandals.

Independent Broker-Dealers

Raymond James' Recruiting Push Is 'Firing on All Cylinders': Exec

July 27, 2018

In explaining its lower profits, the firm says it has made "great investments" for the long term tied to new recruits.

Alternative Investments

Bitcoin Drops as U.S. Rejects Winklevoss ETF for Cboe Trading

July 27, 2018

A technical indicator also moves into bearish territory; Bitcoin has declined after rallying more than 30% in July.

News

UBS Cutting Dozens of Staff in Wealth-Management Revamp

July 26, 2018

The developments are taking place after the business reported a withdrawal of assets by clients in the latest quarter.

Wealth Manager News & Advice

RBC Nabs $190M Merrill Team in New Jersey: Recruiting Roundup

July 25, 2018

Meanwhile, Wealth Enhancement Group says it is buying Retirement Strategies, an independent practice with about $350 million in assets based in Florida.

News

Ladenburg Thalmann Invests in Tax-Automation Firm

July 25, 2018

According to the firm, which owns Securities America and other BDs, this move is tied to its recently launched Innovation Lab program.

News

UBS Wealth Merger Hits Goals as Investors Press for Returns

July 24, 2018

The bank had net outflows for the first time in about 18 months; the investment bank beat analyst expectations for the second quarter.

News

Cetera Plans Big Changes to Retention Bonuses

July 23, 2018

Traditional retention bonuses are "outdated," CEO Robert Moore says.

News

Carson Group Invests In and Adds $1.1B Texas Team

July 20, 2018

Pinnacle Financial Group, led by Michael David, will change its brand but not its broker-dealer in the process.

Economy & Markets

Trump Blasts Fed, Threatens to Put Tariffs on All Chinese Goods

July 20, 2018

The president says Fed tightening hurts what administration has done and that China and EU are manipulating their currencies.

Wirehouse Brokers

Wells Fargo Issuing Refunds for Pet Insurance, Legal Services: Report

July 19, 2018

The news comes about a week after the bank explained that it would spend $114 million on refunds to wealth-unit clients.

Alternative Investments

Cryptocurrencies Aren't Big Enough to Pose a Threat: Fed's Powell

July 19, 2018

The Federal Reserve lacks jurisdiction over cryptocurrencies and does not wish to provide oversight.

News

Raymond James Taps New Southeast Chief: Recruiting Roundup

July 19, 2018

Meanwhile, RBC adds a $425 million team from Merrill Lynch, and Commonwealth Financial picks up a $120 million group from Ameriprise.

Wirehouse Brokers

Morgan Stanley's Almost-Flawless Quarter Gets Wall Street Kudos

July 18, 2018

Shares up as much as 4.7%, most intraday since February 2017; other big bank shares rise, but not as much as Morgan Stanley.

News

Cetera Financial's Future Owner Is Revealed

July 17, 2018

After months of speculation about a sale, the group—which has 8,000 affiliated advisors—is set to be bought by a private-equity firm.