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October 13, 2020

Wirehouses Tend to Settle Age Discrimination Suits, Federal Records Show
The companies are inclined to settle if FAs claim that discrimination led to their termination and forced them to forsake future earnings, lawyers say.
JPMorgan Reports Record Asset and Wealth Mgmt Revenue, Net Income in Q3
JPMorgan’s wealth management client advisor ranks expanded during the third quarter after shrinking in the first and second quarters.
Time to Address Diversity and Inclusion Shortfalls Seriously
Diversity & Inclusion Series, Part 2: The killing of George Floyd and the ensuing nationwide protests are compelling leaders in the industry to work toward equality.  Video [ 3:53 ]   Transcript  
FAs Urged to Tell Older Clients to Work Longer, Younger Clients to Invest More
A Wells Fargo Investment Institute executive says it wouldn’t surprise her if in the next 20 to 30 years, many people never retire.
People Moves
LPL Nabs Bank of America Risk Exec, Wells Fargo FA
Thomas Cappello joins LPL as chief risk officer, while Rajat Rajan joins LPL as a financial advisor aligning with Gladstone Financial Resources Group.
Morgan Stanley’s Eaton Vance Acquisition Includes $266B Wealth Manager
Parametric Portfolio Associates is part of Morgan Stanley’s planned $7 billion acquisition of Eaton Vance.
Schwab Senior Execs to Stay, Most of TD Ameritrade’s to Go After Merger
Schwab is cutting most of TD Ameritrade’s top brass, including CEO Steve Boyle and institutional head Tom Nally.
Robinhood Clients May Have Been Hacked; Customer Service Response Slammed
The SEC is reportedly in touch with at least two customers who have complained about money vanishing from their accounts.