The independent broker-dealer LPL reported $2.3 billion in net advisor loans last year, up a whopping 53% from 2023, per an SEC filing.
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Ellevest plans to focus on its private wealth management and financial planning business lines going forward.
The agency’s first settlement suggests that it may have shifted focus squarely onto investment advisors.
The changing of the guard is proof that retail and advised clients, with much longer time horizons, are prioritizing low-cost passive funds.
Rise Growth Partners backed a $5.7 billion fee-only registered investment advisor this week and is already in talks to land future deals.
SEC filings reveal Robinhood’s plans to offer an affordable robo-advisor that’s on par with the competitors.
The organization dedicated to financial planning will engage an outside firm to help search for a replacement.
The project would provide a venue for smaller, private companies to list, and open up new investment opportunities for clients.
The asset manager said the largest price reduction in its history could save investors more than $350 million this year alone.
The bank is restructuring the unit that caters to some of its wealthiest clients, according to an internal memo.
Groups like LPL Financial and SIFMA say the rule conflicts with the Regulation Best Interest framework.
Mark Uyeda will serve as interim Securities and Exchange Commission Chair, while Paul Atkins awaits confirmation.
The SEC charged the asset manager with misleading clients over changes to its retirement funds, leading to higher tax bills for investors.
The controversial enforcement actions have been called a “cash cow” by Commissioner Hester Peirce.
Wall Street ended 2024 on a high note, providing investors with a sigh of relief as we enter the new year.
The UK Advertising Standards Authority said Wahed Invest can no longer run posters with flaming US and EU bills.