January 15, 2021
Stifel Sued Over Sexual Assault and Harassment Complaints
Client service associate Patricia Olivieri alleges the company didn’t properly investigate an executive after he put his hand on her buttocks and told her stories about rape and his sex life.
Firms Ramp Up Succession Lending to Keep Retiring FAs' Assets In-House
Broker-dealers are providing more financing to advisors to buy retirees' books of business to help prevent assets from leaking to competitors.
Wells Fargo FA Count Down 6% But Client Assets Up 6% YoY
The company saw healthy growth in net income in the last quarter of 2020 but it wasn’t enough to offset poor results earlier in the year.
JPMorgan Asset and Wealth Mgmt Assets Up 17% YoY But Net Income Down
The unit ended December with 58 fewer advisors than it had three months earlier.
Schwab Freezing All PAC Contributions Through 2021
The company’s political action committee contributed $543,576 from Jan. 1, 2019 to Nov. 23, 2020, split evenly between Democrats and Republicans.
Wealth Enhancement Group to Buy Connecticut RIA
Danbury, Conn.-based Reby Advisors manages around $727 million in client assets.
Beacon Pointe Advisors Adds Two Wealth Mgmt Practices
CDA Group and Essex Wealth Management collectively manage around $620 million.
Waddell & Reed's Client Assets Up in December Despite Outflows
The company saw $584 million in net outflows but rising markets helped the firm’s client assets grow by $2.4 billion during the month.