Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent benchmarking study suggests that a number of RIAs are looking to move ‘upmarket’ and work with wealthier clients by expanding their service menu to include family office services, investment banking, and/or trust services. […]
Archives for August 2024
5 things to expect at Financial Planning’s ADVISE AI
Financial Planning’s upcoming ADVISE AI conference will feature industry-leading experts from firms including Microsoft, Orion and CogniCor who will offer insights on how advisors can use AI to grow their businesses.
How advisors can protect older clients from financial scams
Scams targeting individuals aged 60 and older caused over $3.4 billion in losses in 2023 — an increase of approximately 11% from the year prior, according to the FBI.
Suit: Charles Schwab used ‘cash sweeps’ for $22B TD Ameritrade acquisition
Schwab vehemently denied allegations that it mishandled clients’ uninvested cash, calling the putative class action just the latest in a series of “unsound, copycat lawsuits.”
Warren presses FINRA over declining broker enforcement actions
Fines levied by the Wall Street regulator have dwindled in recent years.
A Ponzi scheme, pandemic relief fraud, cash sweeps and other recent financial legal battles
Wealth management firms are facing scrutiny from investors over their investing choices and missed signs of fraud, in our latest look at the legal issues in wealth management.
Fewer professional reps submitting pension claims
The percentage of professional complaints about pensions and annuities to the Financial Ombudsman Service – including from claims management companies – showed a surprise fall in the latest quarterly period, in marked contrast to a surge in professional complaints overall.
Azets snaps up Scottish Financial Planner
International wealth manager, Financial Planner and professional services firm Azets has acquired Scottish Financial Planner and chartered accountancy firm Milne Craig in a major deal for the financial services sector north of the border.
Exclusive: Consumer Duty ‘reducing’ access to advice
Nearly three in 10 Financial Planners (28%) surveyed in an exclusive poll for Financial Planning Today say they have cut the number of clients they serve as a result of the Consumer Duty.
Quilter Cheviot lowers fees for nominee MPS
Discretionary wealth manager Quilter Cheviot has lowered the charges for clients invested in its managed portfolio service (MPS) via its own nominee arrangements.