Robinhood Markets, which is a broker that charges no fees, has executed more than $30 billion in trades for more than a million customers since the company’s launch in December of 2014. So reports The New York Times.
Inaccurate regulatory filings, violations of custody rule requirements, code of ethics issues, recordkeeping problems, and insufficient written policies are five areas that have involved the most common deficiencies discovered during Securities and Exchange Commission exams. So reports JD Supra Business Advisor.
Big name retirement advisors such as Vanguard, Fidelity, and Charles Schwab have captured approximately 56% of affluent investor assets that are handled by robo advisors. So reports Investor’s Business Daily.
Morgan Stanley plans to cut its fees and make other changes that would be required under the Department of Labor’s Fiduciary Standard rule even though the requirement may be terminated by President Trump. So reports Bloomberg.