Morning Memo
 
Wealth Management Morning Memo

JULY 15, 2023

PEOPLE

Head of Thrivent Advisor Network Let Go

Carolyn Armitage, who ran Thrivent's independent advisor platform, was laid off, in addition to four other executives on her team. The firm is also halting recruiting new advisors to its RIA.

FULL ARTICLE

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INDUSTRY

Report: Avantax Eyeing Potential Sale

Avantax has engaged a financial advisor to see if there’s interest from potential buyers, but the firm may not end up selling.

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WHITE PAPER

Client-Facing Technology Will Power Growth

Wealthtech survey shows a strong year for tech investments.

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REGULATION AND COMPLIANCE

Raymond James to Pay $12.5M for 'Unreasonable' Commission Charges

State regulators claim Raymond James charged customers a a $75 minimum commission charge, regardless of the size of the transaction.

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RPA EDGE

How the Pandemic Has Changed 401(k) Plans

Slower June job growth is cooling the war for talent.

FULL ARTICLE

SPONSORED WEBINAR

The Psychology of Custom Indexing

Join this webinar on July 18th to discover the hidden forces that drive investor behavior and the unique strategies employed in custom indexing to optimize portfolio performance.

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HIGH NET WORTH

Golf Has a Tax Problem

The Senate probe of the controversial PGA Tour-LIV Golf merger hearing is underway.

FULL ARTICLE

TECHNOLOGY

AI Will Heighten Cybersecurity Risks for RIAs

While scams like email impersonation and phishing are nothing new, generative AI has supercharged the risks by introducing new threats, including deepfakes and malicious chatbots.

FULL ARTICLE

RIA NEWS

Quarterly RIA Deal Volume Hits Lowest Level Since 2021

Yet, average assets per deal is on track to hit the second-highest level ever recorded by Echelon.

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REAL ESTATE

June Marked the Strongest Month for Public REITs Since January

Office REITs rose more than 10% among broad-based gains for most property subsectors.

FULL ARTICLE

MUTUAL FUNDS

The Extreme Cost of Active Management

Active investors are engaging in a massive transfer of wealth—from their own wallets into those of active managers.

FULL ARTICLE

TECHNOLOGY

SMArtX To Launch Free Managed Account Platform

SMArtY is meant to appeal to advisors who want to use models yet do not have access to sophisticated SMArtX UMA technology.

FULL ARTICLE

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