Industry

Pitcairn CEO Leslie Voth is passing the torch of the century-old firm to Andrew Busser in November.

Vista Financial Advisors registered in 2021 and soon claimed it managed more than $11.5 trillion—with a "T"—with no evidence of any legitimate assets at all, according to the commission.

DWS has been under scrutiny by various agencies including the SEC since a former employee went public over two years ago with cliams that the asset manager had inflated its ESG credentials.

Wellesley Asset Management failed to properly disclose that it used hypothetical performance in advertisements for an index it created, according to the commission.

Three years and nearly $1 billion later, Wells Fargo & Co. is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management.

NFP grew its wealth and retirement business in Utah, R&R left Avantax for Commonwealth, tru Independence launched its 4th firm of 2023 and Johnson Financial, LPL and Kestra all made announcements this week.

The SEC fined Goldman Sachs $6 million for sending inaccurate or incomplete trading data and Citadel $7 million for breaking short sales labeling rules and incorrectly marking millions of trade orders.

The firm’s Seattle Private Bank Office hopes to double its headcount in the next five years.

Also, DPL Financial Partners acquired AnnuityFix and SMArtX Advisory Solutions will launch SMArtY platform with Russell Investments’ model portfolios.

Brett Harrison, who currently leads Cetera Advisors, will exit the company after 25 years.