Wealth Management Daily Memo

MAY 12, 2020

REGULATION AND COMPLIANCE

Morgan Stanley Takes $5 Million Hit Over Wrap-Fee Violations

Patrick Donachie

The broker/dealer settled charges with the SEC, claiming it mislead clients about fees they were paying in its wrap-fee program.

INDUSTRY

Focus' Adolf: M&A Grinds to a Near-Halt

Erick Bergquist

Focus Financial, the poster child for M&A as a growth driver, becomes first acquirer to admit that RIA M&A has slowed—significantly.

SPONSORED CONTENT

The Great Migration

Sponsored by American Portfolios Financial Services, Inc.

Financial advisors moving from wirehouses to independent broker/dealers.

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INDUSTRY

Sanctuary Wealth Takes Full Ownership of NorthView Asset Management

Erick Bergquist

Sanctuary Wealth has completed its acquisition of Northview Asset Management and will use it to create a new division, the Advisor Solutions Group.

CORONAVIRUS COVERAGE

BUSINESS PLANNING

If David Lee Roth Owned an RIA, How Would He Handle COVID-19?

Matt Sonnen

What would Diamond Dave do (WWDDD)?

HIGH NET WORTH

Super-Rich Stranded by Lockdowns Face Higher Tax Bills

Ben Stupples and Devon Pendleton

Tax complications loom for those who are stuck in locations they didn't plan on being at for so long.

HIGH NET WORTH

Wealth, Aging and Technology in a Pandemic

Charles Lowenhaupt

Embracing technology can help in a time of crisis and isolation.

SPONSORED CONTENT

Fidelity's Definitive Guide to Portfolio Construction Solutions

Sponsored by Fidelity Investments

Constructing portfolios for today’s markets.

PEOPLE

Q&A With Cetera CEO Adam Antoniades: Leaning Into Disruption

Diana Britton

The first five months of Adam Antoniades’ reign as CEO have been rough, but he believes the pandemic underscores the need for financial advice, and Cetera is doubling down on understanding individual advisor needs.

MARKETING

The Value of Digital Marketing Clearer Now More Than Ever

Meghan McCartan

Our current reality of social distancing and virtual meetings shines a spotlight on the need for new ways to reach out and connect.