Industry

Rob Pettman is leaving the independent broker/dealer after 17 years to join a fintech firm.

Historically, the real estate investment manager relied on independent broker/dealers to reach private wealth. It wants to diversify both its distribution and its investment offerings.

It was a remarkable week in the already indefatigable RIA market, with at least 14 deals announced, two new launches and more than $22 billion in transacted assets.

Lars Knudsen called his former employer “bullies, plain and simple,” claiming the RIA made false allegations about him, including accusing him of brandishing a gun in the office.

Monthly subscription fees for financial planning were up 6% from 2022, according to a new AdvicePay study.

Investors have a strong preference for advisors at large national banks and broker/dealers, especially the high-net-worth.  

According to J.D. Power’s annual survey on self-directed investors, Fidelity took the top marks for DIY investors seeking guidance, with Charles Schwab following closely behind.

A judge recommended throwing out the case of elderly couple who sued JPMorgan over investments they allege never should have been allowed and ended up wiping out much of their savings.

The settlement with the self-directed trading firm comes several weeks after FINRA's first enforcement action targeting firms' use of social media influencers.

The firm, which already works with individual investors, wants to build relationships across private wealth distribution channels.