Financial Planning

Morgan Stanley is no stranger to big M&A deals. Over the years, it has built its wealth management business in large part through purchases including Smith Barney, E-Trade and Eaton Vance. Now CEO Ted Pick says the firm is scouting acquisition prospects again. But not just any opportunity will do. “We are looking at them, of course, but the bar is super high,” he told analysts Wednesday. #CEO #earnings #finance #wealth

Thousands of financial advisors — some with troublesome records from federal regulators — show no apparent blemishes on the CFP Board’s LetsMakeAPlan.org search tool. Buried in the boilerplate, potential clients can find links to BrokerCheck profiles that, in some cases, have dozens of disclosures. “Their behavior is 100% consistent with revenue maximization, 0% consistent with protecting the public and upholding a standard of excellence,” said Allan Roth, founder of Wealth Logic and a critic of CFP Board’s enforcement practices. #CFP #financialadvisors #financialplanning

The wealth management firms where advisors are most satisfied, according to J.D. Power’s latest study. See the rankings. Plus: Morgan Stanley is on the hunt for “inorganic opportunities” to grow. Also: Though Merrill Lynch saw net new assets drop in Q2, AUM was up; see the details. And: The CFP Board has chosen a chair-elect for 2027. #financialadvisors #wealthmanagement #earnings #cfp

Economic turmoil made investors more hesitant to commit money to the market in the second quarter. A day after Citi reported a decline in its net new assets for Q2, Merrill reported an asset tally that was down more than 30% quarter to quarter.

Flora Dong, who was at UBS for 16 years, resigned from her position as a managing director in Silicon Valley in May following accusations that she had staff employees complete FINRA continuing education exams for her. Dong, who has gone on to start the RIA Arden Global Family Offices, was also accused of having other employees complete her mandatory training and of violating the firm’s prohibitions on off-channel communications. #regulation #CE #compliance

In wealth management, financial advisors' satisfaction is big business. That's why the latest annual J.D. Power survey could be tough reading for some firms, said Mark Elzweig of Mark Elzweig Company, LTD. "There's an intense demand now to attract and retain good financial advisors," he said. #financialadvisors #wealthmanagement #careers #jobs #finance

Amid sweeping tariffs in the second quarter, Citi’s wealth division saw its net new investment assets drop by more than 80% year over year. Still, CEO Jane Fraser said during Tuesday’s earnings call that the firm is “sustainable through different environments.” #wealthmanagement #Citi #financialadvisors #earnings

That Kitces Financial AdvisorTech Solutions Map is only getting more comprehensive as investors, fintech startups and incumbents bet on wealth management technology. So it's understandable that financial advisors at the early stages of their career or in launching their own RIAs might feel a little confusion or fear. That's why experts suggest starting with their goals and vision for the future. The most expensive and all-encompassing providers "might be the Lamborghini that you don't need just yet," so advisors could "start with the midsize sedan type of level" offering "that sweet spot in the middle that's going to give you room to grow," said Leighann Miko, CFP® of Equalis Financial and Avise Financial. #financialadvisors #fintech #wealthmanagement #RIAs

A managing director resigned from her UBS career after allegations arose of cheating on continuing education and more. Plus: New RIAs face a potentially paralyzing number of tech options. Here’s how to sort the wheat from the chaff. Also: How quarterly earnings look in the wealth segments of Wells Fargo, Citi and BNY Pershing. #compliance #CE #advisortech #RIAs #fintech #earnings #wealthmanagement

It's not clear which wealth management client deconversion caused a significant outflow from Pershing, but the losses to net new assets were lower than the year-ago period. See the key takeaways for financial advisors from BNY's second-quarter earnings here. #financialadvisors #wealthmanagement #BNY #BK