See the latest on the Wealth Management Industry including M&A activity, diversity and inclusion and RIA updates.
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Signature Bank, the New York lender that’s long catered to the Trump family, also is closing two personal accounts in which the president held about $5.3 million.
Thrivent Advisor Network is now a member of the protocol, which allows departing advisors to take certain customer information and solicit customers regardless of whether they had agreements that expressly prohibited such conduct.
RIA support platform Integrated Advisors Network has acquired consultants ReDefine Independent Advisors in an effort to build out a more dedicated offering for breakaway wirehouse advisors.
The agency has continued to push back the resumption of physical arbitration and mediation proceedings because of COVID-19, though hearings can be held via teleconferencing or Zoom.
With the acquisition of MRA Associates, Captrust can now offer income and estate tax compliance and consulting services, a new offering for its clients.
Among the biggest developments set to influence advisors’ businesses this year include consolidation among wealth management firms, the rise of ESG investing, a renewed focus on prospecting and changes to advisor compensation models.
The lapses in record retention, fingerprinting and failing to oversee the drafting of consolidated reports led to 1.5 million costumer communications being deleted and a former rep running a Ponzi scheme, FINRA claimed.
