Who’s moving where: Raymond James, LPL Financial, Cetera, Onramp Invest, Advisor Group, J.P. Morgan Wealth Management, Dynasty Financial Partners, Ameriprise, FS Investments, plus news about ESG, enforcement and philanthropy. Here’s what you missed this week in wealth management. Scroll through to see quick takes.
Archives for 2021
Principal to shut down RobustWealth’s advisor-facing technology
Financial advisors using RobustWealth are now looking for a new technology provider. Principal Financial Group, which acquired the digital advice startup in 2018, has informed customers that it made “a strategic business decision” to close down RobustWealth’s for-advisors business on September 6. “This means that as of this date, we will no longer trade and […]
Lawmakers introduce bill to make accounting part of STEM education – Accounting Today
Congress introduced bipartisan legislation Friday to recognize accounting as part of the STEM programs in schools, as part of the science, technology, engineering and mathematics curricula. Rep. Victoria Spartz, R-Indiana, and Haley Stevens, D-Michigan, introduced the Accounting STEM Pursuit Act, which would amend the Student Support and Academic Enrichment Grant program to promote career awareness […]
$975 million team leaves Truist Bank for Raymond James
A two-advisor team managing $975 million at Truist has joined Raymond James’ employee channel. Advisors John Gill and Bryan Horner were joined in the move by Mari Hurd, business practice coordinator, and Katie Bosler, senior registered client service associate. John Gill “As financial advisors, we feel a responsibility to choose a partner that shares our […]
GASB offers guidance on implementing leases and other standards – Accounting Today
The Governmental Accounting Standards Board released updated implementation guidance for its leases standard, which is going into effect soon, along with other accounting standards for state and local governments. The updated guidance, posted by GASB last week, provides information in the form of questions and answers on various topics, including accounting and financial reporting for […]
Weekend Reading for Financial Planners (June 12-13)
Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the big industry news that LPL has formally announced the rollout of a ‘standalone’ RIA custodial solution for fee-only RIAs, promising no asset minimums and a more “high-touch, white-glove” approach than its larger competitors (i.e., Schwab […]
IRS posts ARPA credit FAQs
The IRS posted two sets of FAQs to its website on Friday, explaining changes to various credits made by the American Rescue Plan Act (ARPA), P.L. 117-2. New Child and Dependent Care Tax Credit FAQs discuss changes made by ARPA that increased the maximum amount of work-related expenses for qualifying care that may be taken […]
Editor’s Column: Let the banter return
It was good to get away last week for a break to sunny Devon, beating the G7 hordes heading to the South West. We stayed in the lovely seaside town of Sidmouth and had a very pleasant week, our first holiday since last year (apologies if you haven’t been away yet, I know it can […]
REvil Hits US Nuclear Weapons Contractor: Report
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Ex-Ameriprise client associate alleges advisors sexually harassed her
A former registered client associate for one of the largest wealth managers alleges two financial advisors sexually harassed her and the company retaliated against her for reporting it. Stephanie Henninger accuses Ameriprise of a hostile work environment due to the conduct of advisors Michael S. Maher and Stephen M. Waite II and unlawful retaliation including […]