Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Elias Herbert Hafen told clients to liquidate stocks and retirement accounts to invest in a fake investment fund, according to allegations; instead, the money went toward his expensive art collection.
LPL's branch recruiting is up 45% over a year ago, as the broker/dealer increases recruiting support and opens up the lines of communication to hybrid firms.
Despite a red-hot M&A environment in RIA land, the cost to buy a firm is not yet excessive, argued participants at Echelon Partners' recent Deals & Dealmakers Summit. Still, a market downturn could slash valuations dramatically.
The "hero" of "The Big Short" said index fund inflows are now distorting prices for stocks and bonds in much the same way that CDO purchases did for subprime mortgages more than a decade ago.
UBS announced it has raised $225 million from its private clients for the $1 billion KKR Global Impact Fund as part of a five-year plan to mobilize private wealth for public good.
Edward Jones has traditionally measured its growth by the number of advisors on its platform; now it wants to focus more on growing clients’ assets by expanding its services.