Industry

Commonwealth and others are restricting advisors from using the new Bitcoin ETFs, while Cambridge and LPL require advisors get trained before they can invest for clients. Cetera expects to allow the ETFs by the end of the first quarter.

Able to create personalized portfolios in minutes, the SaaS platform has attracted funding in a venture capital round led by ETFS Capital.

Mariner asked a federal court to pause Edelman Financial Engines' trade-secret lawsuit during an ongoing arbitration process. Edelman says that would only let Mariner continue raiding its advisors and clients "with impunity."

The independent broker advocacy group previously sued the DOL for withdrawing a Trump-era version of the rule in 2021 and is looking to revive that lawsuit.

J.P. Morgan Securities agreed to pay $18 million to settle charges that it gave certain clients the choice of accepting credits or settlements while agreeing not to approach regulators.

A spokesperson said Bank of America was wrapping up its evaluation of the new offerings that were approved earlier this week by the SEC. The news comes the same day the bank unveiled its fourth quarter of 2023 earnings report.

At least 10 deals, representing more than $8 billion in transacted assets, were announced this week along with a rebrand and two RIA launches.

Also, Smartleaf Asset Management collaborates with Clearstead Advisors and retirement assets in automated state savings programs reach $1 billion.

The $2 billion AUM Stafford Schauer Private Wealth Team joins Arax's Ashton Thomas Private Wealth from Deutsche Bank.