The short “relationship summaries” customers are receiving to comply with the Regulation Best Interest complex of rules that become effective today vary in mentioning whether brokers receive bonuses for moving assets from their former firms.
Adding to its June influx, Wells says it hired seven advisors last week from two wirehouse competitors and two regionals cumulatively producing almost $6 million.
Empower Retirement, large 401(k) record-keeper, to pay $825 million plus potential earnout for Personal Capital in latest example of workplace asset manager-wealth manager synergy.
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The three funds will be the first proprietary actively managed ETFs launched by DFA, which manages over $500 billion in mutual funds, separate accounts and commingled trusts.
Colorado broker left Wells, where she spent more than half of her 38-year career, because of growing charges and its clampdown on small accounts.
The team represents RBC’s largest hire by assets in St. Louis, a branch where the Canadian bank-owned wealth management firm has hired nine advisors since its opening in 2018.