Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Bank of America Corp., Morgan Stanley, Deutsche Bank AG and JPMorgan Chase & Co. are among Wall Street firms beefing up wealth-management teams in Northern California.
Among the biggest developments set to influence advisors’ businesses this year include Regulation Best Interest, the trade war with China, banking as a service and new use for health savings accounts.
The move to eliminate commissions at some brokerages will result in heightened scrutiny by FINRA examiners of alternative revenue sources, including cash sweep accounts and payment for order flow.