Industry

Now that it owns a custody platform, Axos Financial is positioning itself as an advocate for small advisors.

The firm says it will not be a custodian for all; rather, it will target RIAs serving HNW and UHNW clients in need of bespoke investments and the trading chops of its global markets division, which will house the new business unit.

White, who oversaw the transformation of LPL Financial's tech stack, will not retire from the industry, as announced in August. Instead, he's joined Carson Group as chief strategy officer and will also sit on the firm's executive board.

John Law will serve 10 years in prison for participating in the nationwide scheme, in which he and his co-conspirators misappropriated millions in clients' funds.

Industry expertise is now more important than location.

Sen. Elizabeth Warren and Rep. Katie Porter are pressing the regulator after a Georgia judge called the fairness of its arbitration process into question.

Charles Schwab's direct indexing option will start with three indexes, tax management and daily attention, and be available to advisors, the custodian announced.

Morgan Stanley is shedding some of the wealth management businesses of Eaton Vance, which it acquired in a $7 billion acquisition last year.

The 1 Global Capital fraud scheme raised more than $320 million from more than 3,600 investors throughout the country, according to the commission.

The time-honored corporate tradition is due for a radical reassessment.