Industry

According to the settlement letter, third parties used the firm’s cash management brokerage account to withdraw funds from accounts they’d illegally accessed at other financial institutions.

While the lack or breach of trust is its kryptonite.

Santander started boosting the high and ultra-high segment of its private banking business last year and has since hired 90 bankers.

iCapital Multi-Asset Portfolio will give financial advisors access to funds focusing on private equity, private credit and real asset strategies.

Goldman Sachs now allows lending against certain alternative investments custodied through Goldman Sachs Advisor Solutions.

The ratings agency says the move reflects “elevated acquisition-related liabilities and share repurchase activities.”

The Federation of Americans for Consumer Choice and several co-plaintiffs claim the Department of Labor wants to “fundamentally reshape” settled industry practices.

Eddy Ray Blizzard pleaded guilty late last year to defrauding an elderly victim of his retirement funds. An FBI Special Agent said Blizzard deserved “every year” in prison.

Also, BlackRock invests in Willow, Betterment For Advisors expands its partnership with XYPN and Fusion IQ introduces FIQ Freedom.

Our industry can do better, and both advisors and clients should expect more, writes Farther’s CEO and co-founder.