The SEC chairman said the agency’s proposed rules around improved disclosures and a best interest standard for broker/dealers and advisors are meant to meet the reasonable expectations of clients, regardless of the business model.
Many in the advice industry lambasted Wealthfront when it announced it would place some of its larger clients’ taxable assets into a risk-parity fund–the technique of adjusting stock/bond exposures in response to movements in the financial markets. But John Rekenthaler had a good take on the company's decision, and automated advice in general, in his Morningstar.com column on Wednesday. ...
Fiduciary Trust Hires Stifel Nicolaus CIO Fiduciary Trust Company hired Hans Olsen to be its new chief investment officer, the wealth manager said Wednesday. Olsen was most recently the Global Head of Investment Strategy at Stifel Nicolaus and the CIO of the firm's Delware Trust Company. ...
RBC Recruits Team Managing $600 Million RBC Wealth Management recently recruited the Weissman and Dion Wealth Management Group to its West Palm Beach office, the broker/dealer said Tuesday. The group, led by Managing Director Gary Weissman, joined from Wells Fargo, where it managed $600 million in client assets. ...
