News Roundup

News Roundup (495)

SEC HQ Staff Told to Work Remotely After Suspected Coronavirus Case

On Monday, a spokesman for the Securities and Exchange Commission (SEC), said the agency is encouraging employees in its Washington, D.C. headquarters to work from home due to concern about the coronavirus outbreak. So reports Federal News Network.

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How Advisors Are Weathering the Coronavirus Storm in Seattle

Washington state has had the most deaths from coronavirus in the U.S. and continues to be one of the hardest hit states. Financial advisors in the state are coping with a host of challenges, including calming investor fears to worrying about their own health and safety. So reports Financial Planning.

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Why You Should Be Proud to be a FA

While Hollywood often portrays financial advisors in a less than flattering light—and it can be easy to feel down about the profession—a recent ThinkAdvisor column says there are 17 reasons to feel proud about it.

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Morgan Stanley to Buy E*TRADE for $13B

Morgan Stanley will acquire E*TRADE in an all-stock transaction valued at approximately $13 billion, the companies said in a press release.

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How an Alzheimer's Diagnosis Changed One Advisory Practice

When Douglas MacLean was 23, he began his financial advisory practice with the Barnum Financial Group. Business went well for the next few years until, in 2017, his mother was diagnosed with early onset Alzheimer’s disease.

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New Platform Seeks to Transform Diversity and Inclusion in the Industry

The racial wealth gap is growing wider in America, with whites more likely to own a home than Blacks and Hispanics. For Black Americans, in particular, it is difficult to accumulate wealth. So reports Forbes

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Stifel Nabs $217M Wells Fargo Trio

Stifel’s aggressive recruiting push appears to be extending into 2020. So reports On Wall Street.

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LPL Picks Up $460M Team

Newly-named Twenty Four Wealth Management has joined LPL Financial’s broker-dealer and hybrid registered investment advisor (RIA) platforms and aligned with Stratos Wealth Partners, an existing enterprise firm that supports the operations and growth of LPL-affiliated advisors. The advisors serve more than $460 million in brokerage and advisory assets*. They join from MassMutual Financial Advisors.

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Schwab, TD Ameritrade Deal Could Hurt RIAs

The proposal by Charles Schwab to acquire TD Ameritrade Holdings in a $26 billion deal would give the resulting combined entity huge control of the custodian industry, which in turn could hurt registered investment advisors’ abilities to offer flexible services. So reports Financial Planning.

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Ken Fisher's Lewd Comments Still Causing Withdrawals

Chicago’s police pension fund is yanking $67 million from Ken Fisher’s advisory firm, bringing the total amount of institutional assets that have been pulled from the firm to about $3.9 billion in response to the lewd remarks that the executive made regarding women. So reports Financial Advisor.

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