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Former leaders at Goldman Sachs, Fidelity, Creative Planning and Wealth Enhancement Group have joined to accelerate the firm's growth as a new multicustodial platform for independent advisors.
The rule, which takes effect in September, “protects the retirement investors from improper investment recommendations and harmful conflicts of interest,” according to Acting Labor Secretary Julie Su.
The bank has struck an agreement to transfer clients and their assets from the unit known as Marcus Invest to Betterment, a $45 billion digital investment-advisory firm.