RBC will pay nearly $9.7 million after FINRA arbitrators ruled in favor of a Minnesota-based adviser who claimed the firm discriminated against her based on age and gender. Cinda Collins joined RBC Capital Markets in 1992, eventually becoming a senior vice president and financial advisor. However, she left the firm in 2019 and joined Wells…

Focus Financial Partners has agreed to acquire Homan Wealth Advisors, an Omaha, Neb.-based registered investment advisor. Homan Wealth Advisors will be absorbed into Focus's Buckingham Strategic Wealth business, which is itself now part of that parent company's Colony Group. This is Colony's first external deal since then joined Buckingham in May. Related: Focused firm Kovitz…

Pete Hess, former CEO of Advent Software and former chief revenue officer at InvestCloud, has joined Canada-based PureFacts, a revenue management provider for wealth management firms, as president. Hess was most recently CRO for the Americas at InvestCloud; prior to that, he spent 23 years at Advent (which was acquired by SS&C Technologies in 2015),…

(Bloomberg) — B. Riley Financial Inc . agreed to sell part of its wealth management business to Stifel Financial Corp. for more than $35 million in cash, the latest in a series of asset sales aimed at trimming the investment firm's cash-strapped debt load. Related: Kestra adds $1.4 billion to Florida team from B. Riley…

Prime Capital Financial, an Overland Park, Kan.-based RIA with more than $24 billion in assets under management, has hired Jania Stout, a former senior vice president of retirement and wealth at Atlanta-based OneDigital , as president of its retirement plan advisory. business and financial well-being company. This follows Rebranding of RIA in July from Prime…

Sequoia Financial Group, an Akron, Ohio-based registered investment advisor with more than $21.5 billion in assets under management, has acquired Family Asset Management, a Charleston, SC-based RIA with more than $300 million in client assets . The deal expands Sequoia's Southeast footprint, bringing the RIA to 16 offices in 10 states. This represents its seventh…

Behavioral finance, a field that combines psychology with economic decision-making, offers deep insights into the complexities of human behavior in the financial realm. I've been interested in this topic for years, and my interest has only grown since working in financial services. It was there that I managed to meet Dr. Daniel Crosby, Ph.D., a…

Active strategies are all in, especially when it comes down to it new launches in the ETF space. By all accounts, active ETFs are accounted for 70% of launches this year only, and assets in globally active ETFs it recently surpassed $1 trillion. This is consistent with findings from a new study by WMIQ on…

Wilmington Trust, the wealth management division of M&T Bank, has named Lisa Roberts as its new head of wealth management. Roberts has been with the firm since 2023 and was previously senior executive vice president and head of M&T's US markets. She succeeds Doris Meisterwho led the wealth division for eight years before stepping down…

There was a time when I almost left the financial services industry to become a doctor. I was five years into my career and despite my best efforts, I felt like I couldn't grow my business. There was a theory at the time that an hour of an advisor's time with a client was worth…