Articles by Vicky Ge Huang
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Schwab-Pursues-Texas-Broker-Who-Started-His-Own-Ria

Schwab Pursues Texas Broker Who Started His Own RIA

8/21/19 | Enforcement, News

Schwab’s claim for an injunction comes as lawyers say non-solicitation disputes have mushroomed in the past year industry-wide.

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Ann-Frigon

Iowa Insurer’s New RIA Lures Carson Wealth Advisor

8/21/19 | Advisor Moves, News | 2 Comments

Farm Bureau Financial Services has hired a 27-year adviser managing about $100 million to introduce wealth services to some of its 540,000 client members.

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Goldman-Files-For-Six-Bond-Etfs-As-Its-Retail-Force-Expands

Goldman Files for Six Bond ETFs as Its Retail Force Expands

8/19/19 | News

Analysts speculate that Goldman Sachs Asset Management’s product expansion supports its new effort to be money manager, financial planner and wealth manager for individuals across a range of wealth strata.

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Schwab-Seeks-To-Restrain-Another-Former-Broker

Schwab Seeks to Restrain Another Former Broker

8/16/19 | Enforcement, News

Seeks injunction against Wisconsin advisor who left after 12 years for BMO Wealth Management, continuing discount brokers’ newly aggressive attempts to enforce non-solicit contract clauses.

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ndependent-Firms-Adopt-Advice-On-Demand-Billing-Software

Independent Firms Adopt Advice-on-Demand Billing Software

8/15/19 | Fintech News, News

AdvicePay, Michael Kitces and Alan Moore’s fintech offering, has inked deals with Cetera Financial Group, Private Advisor Group, Ladenburg Thalmann and Ameritas.

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Mercer Buys $300-Mln Asset RIA in Connecticut, Sues Fleeing Advisor

Mercer Buys $300-Mln Asset RIA in Connecticut, Sues Fleeing Advisor

8/14/19 | News

Rollup firm, whose private equity owner is believed to be in merger negotiations, sued an advisor last week who joined a rival RIA group.

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Ex-Schwab-Relationship-Manager-Files-Age-Discrimination-Suit

Ex-Schwab Relationship Manager Files Age Discrimination Suit

8/13/19 | Enforcement, News

Michigan woman, 63, asserts that she was railroaded over e-mails sent to Schwab’s RIA clients about company policies.

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TD Ameritrade

TD Ameritrade, E*Trade Downgraded on Rate Concerns

8/9/19 | News

Deutsche Bank’s Brian Bedell wrote that the online brokers will be hurt by competition from Fidelity’s new 1.9% cash sweep-account offer and other rate-related pressures.

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Fidelity-Stokes-New-Account-War-Offering-1-9-On-Client-Cash

Fidelity Stokes New-Account War, Offering 1.9% on Client Cash

8/7/19 | News

Its core cash-sweep into a high-yielding government money-market fund pressures competitors only days after Fed cut rates.

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Ouch-Nuisance-Calling-Costs-Small-Florida-Firm-20000

Ouch! Nuisance Calling Costs Small Florida Firm $20,000

8/5/19 | Enforcement, News | 3 Comments

Finra fined and censured Dawson James Securities for allowing some brokers to bypass internal controls aimed at curbing solicitations to prospects whose names were on national and internal firm do-not-call lists.

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Vanguard-Reopens-Dividend-Fund-Will-Sell-Alts-Fund-Through-Brokers

Vanguard Reopens Dividend Fund, Will Sell Alts Fund through Brokers

8/1/19 | News

The $37-billion Dividend Growth fund is taking new money, while the low-performing Alternative Strategies fund will reduce minimum investment.

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Thank-You-Merrill-Edge

Thank You, Merrill Edge?

8/1/19 | News | 26 Comments

About 12% of the new accounts that Bank of America expects Merrill Wealth advisors to open this year will come through referrals from its low-end Merrill Edge unit.

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FINRA sign

Finra Fines Citigroup for Sloppy Background Checks on Employees

7/29/19 | Enforcement, News

Markets unit to pay $1.25 million for failing to fingerprint and search for felony violations on some thousands of non-registered employees.

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Schwab-Chases-Another-Former-Broker-With-Tro-Lawsuit

Schwab Chases Another Former Broker with Lawsuit

7/25/19 | Enforcement, News

Discount broker pioneer accuses New Orleans advisor who left for an independent firm after ten years of violating his employment contract by soliciting former customers.

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T-Rowe-Price-Bulks-Up-Broker-Dealer-Sales-Force

T. Rowe Price Bulks Up Broker-Dealer Sales Force

7/24/19 | News

Even as investors gravitate to less expensive share classes, asset management company says second-quarter profit jumped 17.5% on $2.5 billion of new client money.

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blackrocks-tech-services-unit-flourishes-as-advisory-fees-lag

BlackRock’s Tech Services Unit Flourishes as Advisory Fees Lag

7/19/19 | News

Sales of Aladdin risk and portfolio management software to wealth managers help offset lower revenue from active-fund management.

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Luminous-Advisors-Who-Bolted-First-Republic-Keep-88-Of-Assets

‘Luminous’ Advisors Who Bolted First Republic Keep 88% of Assets

7/17/19 | Advisor Moves, News | 7 Comments

Bank says it expects to retain just $2 billion of the $16 billion managed by flagship wealth team that broker away last month, but will gain relief from reduced compensation costs.

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Goldman-Closes-Purchase-Of-Ria-Catering-To-Mass-Affluent

Goldman Closes Purchase of RIA Catering to Mass Affluent

7/16/19 | News

CEO of the vaunted investment bank says it could make more acquisitions of firms catering to the mass affluent following purchase of United Capital Financial Advisers.

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Amy Sabin Left J.P.Morgan for Steward Partners

Steward Attracts Veteran Broker in Texas from J.P. Morgan

7/15/19 | Advisor Moves, News

Dallas office of J.P. Morgan loses $1.3 million producer Amy Sabin to Raymond James-affiliated independent firm the same day it hires an early-career wealth associate from UBS.

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Kerri Guiomar and Ronald Jaeger of Jaeger Wealth Management.

LPL-Affiliated Gladstone Hires New Jersey Independent Broker

7/11/19 | Advisor Moves, News

Broker with $200 million in assets leaves Commonwealth Financial to join advisory firm run by former Morgan Stanley manager.

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Morningstar-Analysts-New-Focus-On-Fund-Fees-Underwhelms-Some-Advisors

Morningstar Analysts’ New Focus on Fund Fees Underwhelms Some Advisors

7/9/19 | News

New methodology will make it harder for actively managed funds and for expensive share classes to attract top-level ratings from Morningstar.

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d-Ameritrade-Brokers-Yen-For-Independence-Stronger-Than-Ever

TD Ameritrade: Brokers’ Yen for Independence Stronger Than Ever

7/3/19 | Advisor Moves, News | 2 Comments

Money and autonomy in working with clients remain strong incentives for brokers to become independent fee-based advisors but transitions remain challenging, RIA custodian says.

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Merrill-Recruits-High-Profile-Ubs-Manager

High-Profile UBS Manager Joins Merrill

7/2/19 | Advisor Moves, News | 6 Comments

Kenneth Correa, who UBS has cited as an exemplar of its new-generation management and its diversity philosophy, is leaving after 15 years for the Thundering Herd.

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