Open, frank and honest discussion about the first lawsuit against the DOL fiduciary rule, April jobs numbers, the JP Morgan data breach and more. Source link

Hello and welcome to this week's edition of 401k Real Talk. This is WealthManagement.com's Fred Barstein Omnichannel RPA Contributing Editor & CEO at TRAU, TPSU & 401kTV – I Review everything from the past week's stories and pick out the most relevant and interesting ones offering an open honest and candid discussion that you wouldn't…

AdvicePay has promoted Kelsey Lewis, most recently head of client success, to the role of president at the popular billing and payment system provider for financial advisors. Co-founder Alan Moore will remain in his role as CEO of the Bozeman, Mont.-based company, which has grown to 30 employees and now serves 23 enterprise-sized clients, including…

Measured by the ratio of monthly net flows to assets. Minimum $10 million in net assets. Data as of 5/3/2024. Aniket Ullal is VP, ETF Data and Analytics for CFRA, one of the world's largest providers of independent investment research. Aniket founded First Bridge Data, a leading source for global ETF data and analytics that…

Minneapolis-based Wealth Enhancement Group, an acquirer RIA with over $82 billion in client assets, has acquired The Retirement Group, a San Diego-based hybrid RIA with over $809 million in assets. The deal is WEG's fourth transaction of 2024 and its 18th location in California. The Pension Group, founded in 1993, consists of 11 advisors and…

In our increasingly global society, millionaires can be found almost anywhere. However, according to a latest research from international wealth migration specialists Henley and Partners, the US continues to lead the way in resident millionaires (defined as those with investable liquid assets of $1 million or more), placing 11 cities in the top 50, including…

The Commonwealth Financial Network is attractive a $93 million judgment that disclosed no conflicts of interest when recommending certain mutual fund share classes to clients when more affordable options were available. The Commonwealth is moving to appeal the case to the U.S. Court of Appeals for the First Circuit after a Massachusetts federal judge ruled…

After nearly four months of steady outflows, Grayscale's Bitcoin ETF snapped its losing streak and posted its first net inflows since January. Some asset managers made moves to strengthen their products by targeting the private wealth channel. These are among the investment must-reads we found this week for wealth advisors. WealthManagement.com | 07 May 2024…

RIA platform Hightower Advisors has bought shares worth a combined $68 million in six Bitcoin ETFs, according to it. last submission 13-F. Investments were first reported by Watcher.guru. A Hightower spokesperson said the firm doesn't comment on its portfolio decisions, so it's unclear how Bitcoin ETFs fit into its overall strategy. Overall, Hightower reported more…

LPL Financial has added a team of advisors in New Haven, Conn., to its Strategic Wealth Services model. Logan Reed, James “Jim” English III, Michael Allegra Jr. and Matthew Fleming are joined by Janney Montgomery Scott, where they grossed around $830 million. The team will launch a new independent practice, Thimble Island Private Wealth. Connected:…