(Bloomberg) — Morgan Stanley traders offered first-quarter earnings that beat expectations, as its wealth management controller also got back on track — both handing a key win for its new chief Ted Pick. . Revenue from the trading business came in at $5.33 billion, beating previous analysts' estimates and trailing Goldman Sachs Group Inc.'s trader…

Rob Pettman, former head of wealth management solutions at LPL Financial, has joined TIFIN, the startup incubator and holding company, as chief revenue officer and president. He will report directly to TIFIN CEO and Founder Vinay Nair. Pettman replaces Jack Swift, who left TIFIN last year, according to published reports. Swift's LinkedIn profile says he…

FLPutnam Investment Management is entering the corporate trust business. $8.6 billion Massachusetts-based RIA is acquiring Darwin Trust Company, a New Hampshire managed trust business as it works to expand and add service capabilities that complement and support the firm's overall growth. Reflecting a larger industry trend, FLPutnam has been building its menu of services since…

The revelation about financial wellness versus results has many people questioning whether offering meaningful personalized financial planning to the masses is realistic. Coupled with the limited commitment and cost of helping the less affluent, the results have been discouraging with some high-end wellness providers raising significant funding from erstwhile VC firms seeking a soft exit….

(Bloomberg) — Goldman Sachs Group Inc.'s approach of getting back to basics is paying off as it posted earnings that topped past expectations and boosted its stock the most this year. The Wall Street giant posted a 28% rise in net income in the first quarter, even as analysts were bracing for a decline from…

A team of advisors have left Stratos Wealth Advisors after four years to join Avantax Planning Partners, Avantax's in-house registered investment advisor. GA's Investment Management team, with more than $450 million in assets under advisement, is based in Seven Fields, Pa., a suburb of Pittsburgh. GA is led by directors Stephen W. Gierl, Gary E….

(Bloomberg Opinion) – Graham Ambrose has never felt stronger. He can barbell 145 kg (320 lbs) for four sets of six repetitions and bench press more than 100 kg for a single repetition. His friends and colleagues notice that his clothes fit him tighter and that he likes to post selfies in the mirror Instagram….

In the firm's first quarter of 2024, Charles Schwab saw $14 billion in net inflows to its advisory solutions businesses, including managed portfolios and personalized investment advice. This was a 60% increase year-on-year, according to the company's profits. Schwab reported $4.74 billion in net income for the first three months of 2024, a 7.3% decline…

Colorado Securities Commissioner Tung Chan issued separate orders against two “fraudulent” firms last week, the state's division of securities regulatory agencies said. Joyce Dunbar Management and Fluxia Capital Management both falsely claimed to have offices in the same building as the Colorado Department of Regulatory Agencies, where the agency is located, claiming that “the companies…

OJ Simpson is still causing controversy, even after his death. The NFL Hall of Famer, whose trial and eventual acquittal in the 1994 murders of his ex-wife Nicole Brown Simpson and Ron Goldman captivated and divided the nation, died last week at age 76 after a battle with cancer. OJ's will was filed in a…