Janet Levaux

News

Advisor Group Rolls Out Digital Onboarding System

November 16, 2018

The firm says eQuipt will cut account-opening time in half for its 6,800 reps.

News

Commonwealth Rolls Out New Financial Planning Tools With RightCapital

November 15, 2018

Advisors can show client goals in new ways that run "the full gamut of planning from simple to advanced,” according to one executive.

News

LPL Picks Up $410M Reps from Wells Fargo, Cetera: Recruiting Roundup

November 14, 2018

Meanwhile, Ameriprise, Hilliard Lyons, Janney Montgomery Scott and Raymond James add reps from rivals; RIA Provise Management opens a new office in Tampa.

Economy & Markets

Gundlach Sees ‘Suicide’ Combo of Rising Deficits, Rates

November 14, 2018

The CEO of DoubleLine Capital also sees risks with corporate bonds, now at very high valuation levels.

News

Is HighTower Advisors Tapping Oros as CEO?

November 14, 2018

Industry watchers share their views on the possible move of the HD Vest executive and the pressures facing the next CEO of HighTower Advisors.

News

Stifel Picks Up 6 Advisors With $642M

November 14, 2018

The broker-dealer adds reps from Moors & Cabot, Morgan Stanley and Raymond James.

Economy & Markets

Wall Street's $45T China Dream Inches Toward Reality

November 12, 2018

Three firms have applied to increase stakes in securities JVs; trade war, falling stocks and debt pile are all warning signs.

Independent Broker-Dealers

Raymond James Adds 12-Member $560M Team From Wells Fargo

November 12, 2018

Group moves to the independent channel in Arkansas; its members have roughly 200 years of combined industry experience.

News

Bigger Bonuses on Way for (Almost) Everyone on Wall Street

November 12, 2018

Johnson Associates predicts equity traders might get 20% more; M&A advisers face pay cut, according to closely watched report.

Portfolio Construction

Fidelity Pushes Low-Cost Envelope (Again)

November 12, 2018

It is now offering advisors Target Allocation Index-Focused Model Portfolios, with expense ratios of 0.03%-0.12%.

News

How Commonwealth Aims to Track the Industry ‘Puck’

November 09, 2018

At its yearly meeting in Austin, leaders of the indie broker-dealer describe its focus on RIAs and other efforts to boost its service level.

News

RBC, Ameriprise Add Merrill Teams: Recruiting Roundup

November 07, 2018

The new advisor groups come on board in Florida and Kentucky; they have a total of $330 million in client assets.

News

Wells Fargo's Wealth Chief to Retire

November 07, 2018

The news comes two months after a report of gender-bias complaints at a business he leads.

News

LPL Adds Teams From Cetera, Foresters

November 06, 2018

The two teams had a combined $475 million in AUM.

Legal & Compliance

Wells Fargo Ups Improper Foreclosure Count, Suspends Some Fees

November 06, 2018

As it digs deeper into past misdeeds, the bank continues to add to the number of affected clients.

Fixed Income & Bond Markets

Citizens Bank to Buy $7.5B Clarfeld Financial Advisors

November 05, 2018

Separately, Arkadios Capital adds a $3.5 billion fixed income team from Raymond James.

Economy & Markets

8 Ways HNW Investors See Economy, Congress & Trump

November 05, 2018

After a tough October for stocks, UBS just asked investors with assets of $1 million or more how they are feeling about the markets and political momentum.

Economy & Markets

Here's Why Investors Have Plenty to Worry About

November 02, 2018

Multiple factors are converging that could signal trouble for markets into next year.

ETFs

Cantor to Sell ETF, Retail Stock-Trading Division

November 02, 2018

The acquirer believes the deal should bring institutional-quality customer service and top technology to Main Street broker-dealers, asset managers and retail investors.

Independent Broker-Dealers

Triad Adds $850M Team From Wells Fargo

November 02, 2018

In a related development, Triad owner Ladenburg Thalmann says a separate subsidiary has acquired annuity-related assets.

News

New Carrots, Sticks in Merrill's 2019 Comp Plan

November 02, 2018

Merrill will institute a noncompensable policy, which executives say is “in line with many of our peers.”

News

Want a Divorce? Better Do It Now

November 02, 2018

Tax overhaul kills alimony deduction for divorces after 2018; reaching a deal soon could mean tens of thousands in savings.

News

Woodbridge Group Ex-CEO Fined $120M for Ponzi Scheme

November 01, 2018

Robert Shapiro agreed to pay the funds to the U.S. Securities and Exchange Commission to settle allegations he defrauded investors in a $1.2 billion real-estate investment scam.

News

Stifel Adds 6 Reps From Merrill, UBS and Other Rivals

November 01, 2018

The advisors are expected to bring over about $660 million starting this quarter.

ETFs

Vanguard CEO to Become Chairman on Jan. 1

November 01, 2018

Tim Buckley will succeed Bill McNabb, becoming the fourth chairman of the investment firm in its 43-year history.

News

LPL Picks Up $800M Seattle Group From Rival: Recruiting Roundup

November 01, 2018

Meanwhile, Raymond James continues to add reps from Wells Fargo, and Ameriprise recruits a team from FSC.

News

RBC Wealth Nabs $550M Merrill Team in Beverly Hills

October 31, 2018

The two advisors come on board about one week after RBC added a Wells Fargo group with $1.4 billion in assets.

Economy & Markets

Fed Proposes Eased Rules for All but Biggest Banks

October 31, 2018

The Fed governors voted to separate megabanks from smaller, regional banks like U.S. Bancorp, Capital One and PNC Financial Services Group.

News

UBS on Hunt for Asset Management Deals

October 31, 2018

As the firm aims to boost scale, its likely targets may include U.S. and U.K. asset managers focused on retail clients and specialized asset managers in areas such as real estate, sources say.

Portfolio Construction

SigFig Launches Digital Wealth Platform for Advisors

October 30, 2018

The technology handles front-, middle- and back-office administrative tasks, including paperless onboarding of new clients.

News

FINRA Fines LPL $2.75M Over Complaint Reporting, AML Issues

October 30, 2018

FINRA says the independent broker-dealer took too narrow an interpretation of which customer complaints needed to be reported.

News

Ex-Julius Baer Banker Gets 10 Years for Venezuelan Plot

October 29, 2018

Matthias Krull pleaded guilty to role in money-laundering case; judge in Miami suggests she could reduce term if he cooperates fully.

News

BofA Vice Chairman, Global Wealth Head Laughlin Dies at 63

October 29, 2018

The former chief risk officer worked with CEO Brian Moynihan at FleetBoston Financial.

News

LPL Boosts Profits 84%, Adds 125 Reps: Q3 Earnings

October 26, 2018

Net new advisory asset flows were $5.9 billion on the corporate platform but -$0.8 billion on the hybrid platform.

Independent Broker-Dealers

US Secretly Banned JPMorgan’s Growth for Years

October 26, 2018

OCC stopped bank's expansion into new states for rule infractions; Trump officials reversed Obama-era regulatory enforcement.

News

Raymond James Misses Estimates Despite Strong Recruiting: Q3 Earnings

October 25, 2018

The firm has 7,813 advisors, up 467 from a year ago.

Industry's Need for More Female Advisors Takes Center Stage at Event

October 25, 2018

Executives at Raymond James describe why work as a registered rep makes so much sense for female professionals and what they are doing to move the needle.

Editor's Note: Time for a Reboot, or Just a Rethink?

October 25, 2018

Driving success and growth involves bringing commitment, communication and collaboration together, says consultant Angie Herbers.

A Simple Framework to Prepare for the Next Bear Market

October 25, 2018

The aging bull market should push advisors to protect client gains. Alternative strategies can help. Here are some, demystified.

News

UBS Wealth to Make Biggest Tech Overhaul Since Paine Webber

October 25, 2018

The wirehouse is working with Broadridge to revamp back-office functions and streamline management of multiple accounts for ultra-wealthy clients.

News

Wells Fargo Puts Execs on Leave Amid Regulatory Probes

October 25, 2018

Chief administrative officer, chief auditor have begun leave; the two executives were also removed from operating committee.

News

RBC Nabs $1.4B Wells Fargo Team: Recruiting Roundup

October 24, 2018

Meanwhile, Raymond James adds wirehouse reps with $198 million in assets, while LPL Financial picks up teams from rivals with over $1.3 billion.

News

Kestra Financial Buying Reliance Trust

October 24, 2018

The firm, which works with about 2,300 advisors, says the deal expands its service offerings as demand for trust services is growing.

Alternative Investments

`Alexa, Buy Tilray Shares': TD Ameritrade Gets Voice Purchases

October 24, 2018

CEO says Tim Hockey says the brokerage will allow trades with Amazon Alexa.

Economy & Markets

TD Ameritrade Profits Soar, RIA Technology Remains Priority: Q3 Earnings

October 23, 2018

“The more we can automate, the more time advisors can spend with their clients," according to CEO Tim Hockey.

News

LPL Drops Asset Minimum for New Reps, But ...

October 23, 2018

Advisors looking to join the firm's hybrid RIA and bringing less than $25 million will be charged up to 5 basis points.

Economy & Markets

BofA Merrill Lynch Sees the Future: U.S. Stock Roller Coaster

October 23, 2018

Yield curve cycle points to enduring era of higher volatility; Goldman echoes prediction for more price swings based on GDP.

Wirehouse Brokers

Wells Fargo to Pay New York $65M Over Cross-Selling

October 22, 2018

This settlement is separate from the AG's continuing investigation of the bank's opening of fake accounts.

ETFs

Could Schwab Be Next With 'Free' Funds?

October 22, 2018

Speculation is strong after CEO Walt Bettinger spoke about the firm's competitive strategy during its third-quarter earnings call.

Investing Theory & Strategy

3 Ways Advisors Can Help Business-Owner Clients Succeed

October 22, 2018

Advisors must work with entrepreneurial clients to see how their companies fit into their broader portfolios.

Wirehouse Brokers

Ex-Morgan Stanley Rep Owes Firm $108K

October 19, 2018

Alexander Clark Jones failed to pay a promissory note and is now liable for it, along with interest and associated costs, a regulatory panel says.

Wealth Manager News & Advice

Morgan Stanley's New Advisor Retirement Plan: A Breakdown

October 19, 2018

The wirehouse is tinkering with its compensation program so more elite advisors will stay with the firm and find successors within.

News

New 'Red Flag' Tools Launched to Curb Cyber Risks

October 19, 2018

Entreda's news follows a $1 million settlement reached by Voya Financial Advisors with the SEC over cybersecurity failures and compromised client personal data.

News

Morgan Stanley, Goldman Want to Lend More Money to Ultra Rich

October 19, 2018

In the past five years, Morgan Stanley has tripled these loans to high-net-worth individuals.

Economy & Markets

Sen. Warren Escalates Campaign Against Wells Fargo CEO

October 18, 2018

The Massachusetts Democrat asked Fed Chairman Jay Powell to maintain growth limits on the bank earlier this year to ensure that real changes are made.

Economy & Markets

US Recession Chances in Next Two Years Top 60%: JPMorgan

October 18, 2018

The bank’s gauge is more pessimistic than a recession tracker maintained by the Federal Reserve Bank of New York.

News

Raymond James Nabs $1.5B Reps From Wells Fargo, Morgan Stanley and LPL: Recruiting Roundup

October 18, 2018

Meanwhile, LPL Financial adds advisors from the Cetera broker-dealers; SagePoint and Securities America share details on their latest hires.

ETFs

Top 6 Trends in Wealth Management: Chip Roame

October 17, 2018

For one thing, the boomers aren't going anywhere anytime soon.

News

Hearsay's New Tool Boosts Texting, Mobile Capabilities for Advisors

October 17, 2018

CEO Clara Shih tells ThinkAdvisor how Hearsay is helping advisors turn their phones into "smart work systems."

Economy & Markets

Morgan Stanley Wealth Unit Profit Rises 30% in Q3

October 16, 2018

The wealth group has 15,655 advisors, up 23 from the prior quarter but down 104 from a year ago.

Economy & Markets

TD Ameritrade Now Educating Investors With VR

October 15, 2018

The virtual reality tool is intended to show investors what stock and options exchanges, as well as a Bitcoin mine, are really like.

Economy & Markets

BofA Tops Estimates as Wealth Group Boosts Profits 31%: Q3 Earnings

October 15, 2018

The number of Merrill advisors is 14,838, up 18 from the prior quarter but down 116 from the prior year.

Alternative Investments

Fidelity Rolls Out Crypto Trading and Custody Firm

October 15, 2018

Fidelity Digital Assets is aimed at institutional investors looking for a big-name platform provider.

Investing Theory & Strategy

Watch Out for Self-Serving Information on Retirement Plans

October 15, 2018

There are too many proxies in the insurance industry trying to mask themselves under the guise of wealth management, financial planning and retirement planning.

Alternative Investments

Gary Cohn Joins Blockchain Startup

October 15, 2018

Board of Spring Labs includes Sheila Bair of FDIC and Capital One’s Morris; firm uses blockchain tech to share consumer credit data.

Economy & Markets

Wells Fargo Posts Good News, Bad News: Q3 Earnings

October 12, 2018

The bank and its wealth unit improved profits, but WFA has lost over 1,000 reps since the fake-accounts scandal began.

Wealth Manager News & Advice

With Questar-Woodbury Deal, What's Next for Insurance-Owned BDs?

October 12, 2018

Which BD in this space will be sold next? A recruiter weighs in.

Economy & Markets

JPMorgan Boosts Loans, Citi Bond Traders Snap Back: Q3 Earnings

October 12, 2018

JPMorgan CEO Jamie Dimon warned that swelling geopolitical risks could spill into the U.S. economy.

Economy & Markets

Big Financial Firms Set for 'Lackluster' Q3'18 Earnings

October 11, 2018

JPMorgan, Wells Fargo and Citi report results on Friday, followed by Bank of America, Morgan Stanley and Goldman Sachs early next week.

News

Cetera Financial Has New Board

October 11, 2018

The firm has restructured its board following Genstar's purchase of a stake.

News

Baird Adds $610M Reps From Wells Fargo, Morgan Stanley: Recruiting Roundup

October 10, 2018

Meanwhile, LaSalle St. Securities adds two advisors from Sterne Agee and Broker Dealer Financial Services.

Career Moves

Research Group Dalbar Taps CMO

October 10, 2018

Cory Clark has been with the firm for 12 years and will now work as its chief marketing officer.

Behavioral Finance

Merrill Hosts Events for Female Investors

October 10, 2018

A recent survey found that 70% of women believe women and men have “fundamentally different life journeys."

ESG Investing

College for Financial Planning Starts SRI Training

October 10, 2018

About 20% of U.S. AUM is now tied to sustainable, responsible and impact investing.

Economy & Markets

IMF Cuts Forecast for Global Growth as Trade War Takes Toll

October 09, 2018

Fund downgrades world outlook for first time since July 2016; turbulence in emerging markets another major factor, IMF says.

Commentary

3 Ways Super OSJs Can Boost Teamwork and Results

October 09, 2018

It's worth looking at different ways to develop cross-pollination and collaborative business opportunities within a Super OSJ network of advisors.

Economy & Markets

Bond Tumult to Hit Last Stock Market Pillar: Morgan Stanley

October 08, 2018

Companies with ‘longest duration’ at risk in bond move, according to Mike Wilson, the firm's chief U.S. equity strategist; a reversal would mark a downfall for the rally’s biggest winners.

Economy & Markets

Tim Sloan Is Not Turning Around Wells Fargo

October 08, 2018

By nearly every measure, nothing has improved under the CEO during his two years at the helm, Stephen Gandel writes.

Investing Theory & Strategy

Wells Fargo Advisors Get 'What If' Tool for Clients

October 08, 2018

The program is part of its Envision platform and aims to boost interaction between the firm's 15,000 advisors and their clients.

Behavioral Finance

TD Ameritrade’s Hockey: The ‘Tim Cook’ of the Brokerage Business?

October 04, 2018

Hockey discusses how the discount-brokerage firm is adding some powerful tech partners and maintaining a quick pace of innovation.

Behavioral Finance

TD Ameritrade Adds AI-Based Learning Platform

October 04, 2018

The platform will give clients tailored content based on their online behavior.

Commentary

How to Get and Stay Ahead in the Robo Race

October 03, 2018

In the face of disruption, there are steps that financial professionals can take to stay at the top of their game.

Career Moves

LPL Adds Waddell & Reed Team, Raymond James Picks Up Wirehouse Reps: Recruiting Roundup

October 03, 2018

Also, Cetera Financial Group says advisors who have affiliated with its broker-dealers over the past few weeks could bring over $650 million in client assets.

Alternative Investments

TD Ameritrade Invests in Digital Currency Exchange

October 03, 2018

The firm shares the news less than a year after it started selling Bitcoin futures to some retail clients.

Career Moves

BNY Mellon Nabs Veteran Goldman Wealth, Tech Exec

October 03, 2018

Avi Shua was with Goldman for almost 28 years and led its global wealth management tech group since 2013.

Wealth Manager News & Advice

Charles Schwab Laments Image of Advisors as 'Used-Car Salesmen'

October 03, 2018

The chairman says that the industry needs to embrace a fiduciary standard that puts it on the right path to help Main Street investors.

News

Tips for Getting Referrals and Finding New Clients, From Top Advisors

October 02, 2018

During Raymond James' 2018 Women's Symposium, four top FAs shared their experience and advice.

Economy & Markets

Cars, Cows and a Crisis Averted: Highlights of New Nafta Deal

October 01, 2018

A look at how different sectors are likely to be affected by the latest trade accord.

Independent Broker-Dealers

LPL Launches Advisor Institute for New Reps

October 01, 2018

As part of the program, the BD subsidizes associate advisors' compensation for the first year.

News

Next Financial Launches New Website

October 01, 2018

The independent broker-dealer, which serves more than 500 affiliated reps, also says more updates are planned.

Economy & Markets

'Unloved' Bull Market Has 18-24 Months Left, but Trade War Is Top Risk: JPMorgan

September 28, 2018

Two portfolio managers stress the strong conditions present in today's equity markets and point to potential risks.

Wealth Manager News & Advice

Loring Ward Merging With Focus Financial-Backed Buckingham for $235M

September 28, 2018

The combined firm should work with 300-plus RIAs and have a combined $30 billion in assets under management.

Legal & Compliance

SEC Sues Musk, Seeks Ban for Tweets on Go-Private Deal

September 27, 2018

Suit sends Tesla shares down 13% in after-hours trading; SEC seeks order that Musk can’t serve as officer or director.

News

Lack of Advisor Diversity Is 'Frustrating': Raymond James CEO

September 27, 2018

The head of the broker-dealer and the leader of its women's network break down the industry's challenges at Women's Symposium.

News

Cinnabon Exec's Sweet Lessons for Business Growth

September 27, 2018

At Raymond James Women's Symposium, the head of Focus Brands explains how advisors can turn unmet needs into future success.

Economy & Markets

State Street to Vote Against More Directors at Male-Only Boards

September 27, 2018

Almost 1,000 boards still lack even one female director; bank will give companies three years to find women candidates.

News

Stifel Grabs 11 Reps From Wells Fargo, Other Rivals: Recruiting Roundup

September 27, 2018

The reps have about $850 million in combined assets; Baird adds a mother-son team from Wells Fargo.

Merrill Moves to Put Commissions Back Into Retirement Accounts; Wells Fargo Hits More Bumps; and Other Industry News

September 27, 2018

Morgan Stanley grabs an executive from Betterment, Advisor Group pledges to interview female candidates for top posts, and HD Vest gives its reps access to Envestnet tools.

Portfolio Construction

How Retirees Can 'Pensionize' Their 401(k)s and IRAs

September 27, 2018

Three researchers present a retirement spending strategy focused on delaying Social Security and getting the most out of RMDs.

Editor's Note: Getting It Right

September 27, 2018

As Nicholas Arreola of CLS Investments explains, with technology widening its influence in financial services, advisors are discovering that managing client behavior can be their magic wand.