News Roundup (677)
Goldman Sells United Capital to Creative Planning
- Thursday, 14 September 2023
- News Roundup
- Written by PFA News
Goldman Sachs has announced the sale of United Capital, its Los Angeles-based wealth advisory business with $29 billion in assets under administration, to Overland Park, Kansas-based Creative Planning. So reports RIABiz.
Read more...Schwab Reveals Plans for Layoffs, Office Closures
- Monday, 04 September 2023
- News Roundup
- Written by PFA News
Charles Schwab has disclosed that it is preparing to lay off an unspecified number of workers while downsizing or fully closing offices. So reports the Associated Press.
Read more...LPL Launches Direct Indexing Access for FAs
- Saturday, 19 August 2023
- News Roundup
- Written by PFA News
LPL Financial has added direct indexing as an option for financial advisors using its Model Wealth Portfolios unified account management program. So reports Investment News.
Read more...JPMorgan to Fight $2.5M Award to FA Fired Over Bank Deposits
- Friday, 21 July 2023
- News Roundup
- Written by PFA News
A spokesperson for JPMorgan said the firm plans to appeal a FINRA arbitration panel’s decision that it must pay $2.5 million to a financial advisor fired in 2017 over allegedly violating anti-money laundering laws. So reports MyFinAssets.
Read more...Longtime Morgan Stanley FA Leaves Amid Son’s NBA Legal Row
- Friday, 21 July 2023
- News Roundup
- Written by PFA News
Marc Cohen, a financial advisor with more than 50 years of experience, has departed Morgan Stanley and joined Stifel. So reports Barron’s.
Read more...Wells Fargo Sued by Fired Brokers Claiming Discrimination
- Sunday, 09 July 2023
- News Roundup
- Written by PFA News
Wells Fargo Advisors has been slapped with a lawsuit by two former brokers who allege the company fired them in 2022 due to age and racial discrimination. So reports Think Advisor.
Read more...Cetera Keeps Up Deals with Purchase of $1.4B RIA Firm
- Thursday, 15 June 2023
- News Roundup
- Written by PFA News
Cetera Holdings has followed several investments and acquisitions in recent months with the purchase of the Retirement Planning Group, a registered investment advisory firm with $1.4 billion in assets. So reports 401KSpecialist.
Read more...Merrill Taps Private Wealth Head After Sieg’s Exit
- Sunday, 04 June 2023
- News Roundup
- Written by PFA News
Merrill Lynch has continued to reshuffle executives in the wake of former head Andy Sieg’s recent departure for Citigroup. So reports AdvisorHub.
Read more...Merrill Trainees’ Cold Calls Put Firm on Hook for $1.4M
- Monday, 15 May 2023
- News Roundup
- Written by PFA News
Merrill Lynch has rung up a hefty bill for its trainees’ telemarking violations. So reports Investment News.
Read more...Wells Fargo Fired Exec for Reporting Sexual Harassment: Lawsuit
- Monday, 15 May 2023
- News Roundup
- Written by PFA News
Wells Fargo management ultimately fired a female executive after forcing her to continue working with a boss who groped and harassed her, a new lawsuit claims. So reports The Mercury News.
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