According to a recent AdvicePay study, advisors who used a fee-for-service model charged more for their services in 2023 than they did the year before. AdvicePay's 2024 Fee-for-Service Industry Trend Report found that fee-for-service advisors charged monthly subscription fees of $265 on average last year, up 6% from 2022. Recurring quarterly fees averaged $968, a…

Indianapolis-based Sanctuary Wealth has made two appointments to its leadership team, attracting talent from BNY Mellon | Pershing and Wells Fargo to support national and regional growth initiatives. Michelle McIntyre joins RIA as its first national business development officer. She previously spent the past four years as senior business development officer at Pershing. Connected: Sanctuary…

So what really makes advisors happy? A cutting edge study from industry legend and thought leader Michael Kitces and his team set out to find the answer. Connected: The Healthy Advisor: What Makes Advisors Happy with Michael Kitces And what they found is quite revealing: It turns out that income and happiness are not equal….

Millions of successful business owners are contemplating the next chapter in their company and personal legacies. This comes just as generous estate and gift tax exemption limits are on the verge of being cut. Careful gift and estate tax planning can be the difference between creating generational wealth and squandering it. Gifting private business interests…

One of the greatest threats a family faces is when the patriarch or matriarch of a thriving business suddenly falls silent through illness or death. Overnight, a family's ability to function is tested and their livelihood thrown into uncertainty. Formerly friendly relations are suddenly resolved with mistrust exceeding sorrow. Just as the sudden impact on…

Choreo, the registered investment advisor established in 2022 when Private equity group Parthenon Capital was spun off accounting firm RSM's wealth management business, has added four executives to its senior management team, including two business development officers, a vice president of consulting and a vice president of CPA partnerships. Jim Waller, who joined Choreo as…

Strong stock market performance and the first positive month of net inflows since 2021 made February a strong month for mutual funds, according to Cerulli Associates. But longer-term secular trends, including increased use of separately managed accounts and ETFs, mean the performance was more of an aberration than a signal that the market's use of…

A team of two Merrill Lynch advisers has broken away from the electric house to launch their own registered investment adviser, The Pines Wealth Management, in Southern Pines, NC, according to regulatory filings. The team, led by advisors Evans Neville and Shelly Robinson, were previously part of the Neville Robinson Group at Merrill, where they…

Senvest Management, a New York-based advisory firm with $3 billion in client assets, will pay $6.5 million to settle charges by the Securities and Exchange Commission that it failed to preserve off-channel electronic communications related to the business. From January 2019 to December 2021, Senvest employees communicated about business matters via text and other platforms…

Commonwealth Financial Network will pay more than $93 million to settle Securities and Exchange Commission charges that it failed to disclose conflicts of interest when recommending certain classes of mutual fund shares to clients. The case arose out of allegations filed against Commonwealth in 2019, alleging that the firm failed to warn clients that there…