Industry

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.

CEO Rudy Adolf said the firm has $1 billion in firepower as it looks to expand its global footprint through Connectus, its new in-house shared services model.

Connectus, Focus' shared services RIA, will provide several business development functions, including marketing, digital onboarding, family office and back-office services.

PWA and HighPoint merge to catch wirehouse breakaways.

The Biden administration announced last week the fiduciary exemption would take effect as scheduled, but legal experts argue the rule has some serious teeth that will impact client relationships with advisors and broker/dealers.

The financial industry has a clear call to action to raise the bar on diversity and inclusion.

The acquisition furthers Captrust's hold in the retirement plan space, now at over $600B AUA.

Goldman Sachs' Marcus platform features ETFs that focus on traditional stock and bond benchmarks, impact investments and smart-beta products designed by Goldman.

The resulting entity could be valued at as much as $5 billion.

The wealth management deals for the week of February 8, 2021.