The move is the latest in the commoditization of investing, pushing advisors to prove their worth and earn their fees in areas other than portfolio management.
Laura Thurow has been promoted to Director of Baird’s Wealth Solutions and Operations of the Private Wealth Business.
A NerdWallet study revealed that 44 percent of clients who were charged fees made changes to their account.
The SEC on Tuesday wrapped up its three-month public comment period on the proposed Regulation Best Interest.
For every dollar of AUM, 71 basis points in revenue were generated, down from a recent peak of 78 bps.
New offices in Cincinnati and Cleveland come on the heels of last year’s expansions into New York City, Houston and Dallas.
FactSet, the new primary market data provider for Merrill Lynch’s 15,000 wealth management brokers and employees, replacing Thomson Reuters.
SoFi projects that it will be profitable again by the end of the year.
The bank has been dealing with scandals since 2016.