In this week's fund news, iM Global Partner continues U.S. expansion; ProFunds debuts the first Bitcoin strategy mutual fund; and investors have saved $357 billion thanks to passive indexing.

LPL's advisory and brokerage assets edged past $1 trillion in the quarter, along with a 17% increase in income and a 13% increase in advisors.

George Heckler is also facing litigation from the SEC in connection with an alleged scheme that lasted a decade and defrauded investors of millions.

Dynasty Financial Partners is naming Frank Coates, a former Envestnet executive, as chief technology officer and Taylor Howard as chief digital officer.

Wells Fargo adds John Tyers, former chief growth officer at AdvisorEngine, further demonstrating its commitment to the independent RIA channel.

Nearly 26,000 candidates sat for the Level I exam. The 10-year average pass rate is 42%.

The firm already had a small wealth management business in the U.K., but this acquisition puts Raymond James in a more competitive position, CEO Paul Reilly says.

Former New Jersey State Attorney General Gurbir S. Grewal proposed a uniform fiduciary standard for that state, indicating a possible 'expansive' interpretation of Reg BI in his new role.