Sen. Jeff Merkley and Rep. Bill Foster have introduced a new bill addressing an old issue—whether to ban mandatory arbitration agreements between investors and advisors.

Bentley Blackmon and Phillip Worthen launch Naviter Wealth with the help of two former Envestnet executives.

Betterment, Skience and Docupace filled out their C-suites, while Snappy Kraken closed a Series A round of funding and Envestnet deepened its Practifi partnership.

Amid a proxy battle with an activist investor, advisors who recently left Avantax say service levels suffered and fees rose after parent company Blucora acquired and combined their broker/dealers.

As chair of Maryland's Financial Consumer Protection Commission, Gary Gensler advocated for a client-first fiduciary standard for broker/dealers as well as 'anyone who holds themselves out as an advisor.'

As Blucora continues to face a proxy battle with activist investor Ancora, its former CEO, John Clendening, accuses the company of filing false statements.  

Madoff died in federal prison, where he was serving a 150-year term for defrauding clients of more than $19 billion in the largest Ponzi scheme in history.