October 20, 2020
Never-Ending Game of FA Musical Chairs in the Industry
Anywhere from 6% to 9% of advisors will move in any given year, according to Fidelity research.
Here's How Merrill, Wells, UBS, Others Are Dealing with Returning to Offices
Some firms, such as Snowden Lane, have reopened most of their offices while others, like Wells Fargo, still have the bulk of their staff working remotely.
UBS Americas Sees Tax-Related Outflows but Invested Assets Rise 5% in 3Q
The number of advisors in the unit is now down around 4% year-over-year.
Former FA Gets 7.5 Years in Federal Prison Over $1M Ponzi-like Scheme
Leon Vaccarelli was found guilty of 21 criminal charges, including wire, mail and securities fraud.
Finra Bars Ex-Ameriprise FA Accused of Fleecing Elderly Client
Sean Michael Refsnider allegedly obtained a check from an unnamed client and withdrew money from the client’s account to the tune of $42,000.
BofA’s Diversity Chief: Representation Doesn’t Mean You’re Inclusive
To succeed, diversity advocates need allies who act as “upstanders, not bystanders,” according to the Bank of America executive.
VideoCurrent Diversity and Inclusion Efforts Should Be Just the Beginning
FAs Could Ease Use of Outsourced Portfolios Amid Volatility: Cerulli
But advisors stand to benefit from outsourcing portfolio construction to focus more time on growing their practices, according to the research firm.
Black, Latinx Investors Less Optimistic Over Markets Than White Investors
At the same time, however, highly knowledgeable Black and Latinx investors are twice as likely to report more interest in investing than white investors, according to a survey.