The digitalization of the wealth management industry has brought on unique demands, shifting from personal interactions to multi-communication channels.
In separate lawsuits, J.P. Morgan Securities sought temporary restraining orders to stop several advisors who they claimed illegally solicited former clients after moving to new roles.
The firm recommended investments in share class options for clients in its wrap account programs when more affordable options were available, according to the commission.
The state’s Securities Division released its “Ongoing Financial Planning Guide” earlier this year to address what it said were the compliance questions raised by the increased popularity of the subscription model compared to AUM-based fees.
