News
Mega-Family Offices Strike Transatlantic Alliance to Woo Wealthy
Two of the world’s biggest multifamily offices are forming an alliance.
Bob Oros to Become HighTower’s New CEO—Sources
The former head of Fidelity’s clearing and custody business will direct HighTower’s new strategy of acquiring large RIAs under its new private equity owners.
Vanguard Tumbles in Customer Satisfaction After Digital Snafus
Vanguard Group, famed for its low-cost investment products, just broke out of the pack in a consumer satisfaction survey. But not in a good way.
Edward Jones Sues Broker and Son-in-Law Who Jumped to Ameriprise
Veteran Staten Island, NY, broker moved more than $19 million and four associates to her new firm within a week of leaving earlier this month, according to lawsuit filed on Monday.
Firms Score Points for Putting Employees on Heightened Supervision
Brokerage firms are boosting monitoring programs amid increasing pressure from regulators to identify problem brokers.
Bankers Find Balance, Creative Outlet at Brooklyn Music School
Henry Choi runs his family office from the top floor of his Park Slope brownstone, where it can get lonely after years as a portfolio manager at hedge funds and an investment banker at Goldman Sachs.
Top Stories of the Week: Texas Action over Advisory Account Conversion, and Others
Most-read articles from November 5th to 10th.
Finra Ends Probe of Bank Product Sales with No Enforcement Referrals
Sweep of cross-selling practices at 14 broker-dealers found “weaknesses” in promotional, training and compensation practices but nothing requiring punishment.
UBS Confronts U.S., French Lawsuits and Huge Potential Fines
UBS Group AG’s two biggest legal cases in years are entering the final stretch in a test of Chief Executive Officer Sergio Ermotti’s strategy of taking on French and U.S. authorities.
Wells Fargo to Combine Private Bank, Ultra-High-Net-Worth Arms
Wells Fargo & Co. plans to combine its ultra-high-net-worth business and private bank under one leader.
Texas Slams Firm Over Brokerage-to-Advisory Account Conversions
Brazos Securities fined after discovery that a client’s charges almost doubled after being switched from a transaction-based commission account to a fee-based advisory account.