Establishing a fiduciary duty for financial advisors should not be this complicated, says Elliot Weissbluth, CEO of HighTower.

The fines, $500 million each to the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, covers issues in Wells Fargo’s auto-lending and mortgage units.

Even those who are pleased with the result agree there’s much work to be done.

David Hogg called out big asset managers on Twitter, Daniel Glick was sentenced to 12 years in prison and Dennis Zank is going from Raymond James COO to an advisor.

The SEC commissioners pushed through a proposal package that would establish a best interest standard for broker/dealers and restrict brokers from using the titles “advisor” or “adviser.”

Morgan Stanley’s wealth management division had a record quarter for pre-tax profits, although advisor headcount declined slightly.

Finra records show that since 2010, just four brokerage terminations “appear” to reference sexual harassment or may have been tied to it.

HighTower agrees to buy Salient Private Client, Christine Lagarde details the benefits of bitcoin and Geneos Wealth Management joins cleverDome.

Just as HGTV did not make interior designers obsolete, robo advisors will not replace flesh-and-blood advisors, but they will provide more scalability.