Industry

Goldman Sachs’ Personal Financial Management business fills unmet gaps among Ayco’s corporate client employees.

GTCR LLC and Reverence Capital Partners agreed to buy Wells Fargo Asset Management for $2.1 billion.

These are the mergers, acquisitions and firm-to-firm moves that occurred the week of February 14, 2021.

Goldman is currently working on a version of Marcus Invest that takes an advisor relationship into account, said Joe Duran, head of Goldman Sachs Personal Financial Management.

FINRA claims that James Alan Schumaker allowed his father to continue working with clients, even after he was barred from the industry.

Hightower’s recapitalization brings board changes, including the departure of founder Elliot Weissbluth.

Amanda Thiem claims that former Pimco Chairman Brent Harris made a sexual advance on her in his home and demoted her after she refused. She claims she was then “targeted and ostracized” by co-workers.

Texas-based advisors got pummeled by low winter temperatures, ice, snow and rolling blackouts.

New enforcement head Tom Sporkin and his team now oversee the detection, investigation and prosecution of alleged violations, while another team will handle the adjudication, a move that mirrors the workflow at the SEC and FINRA.