Robert Corsarie

Feb 12, 2024 | portfolio.bisanet.org | Ayo Mseka |Patrick Donachie |Fatima Hussein |Robert Corsarie

A study from Cerulli Associates estimates that 109,093 advisors plan to retire over the next decade, comprising 37.5% of industry headcount and 41.5% of total assets. Meanwhile, the rookie-failure rate hovers around 72%. As the industry grapples with such a low success rate for new advisors who are entering the industry, firms must grow their talent pipeline and better communicate the role and training timeline of a financial advisor, the study said. Read the full article on Insurance News Net

Feb 9, 2024 | portfolio.bisanet.org | Rick Green |Patrick Donachie |Fatima Hussein |Robert Corsarie

Sixteen financial firms agreed to pay more than $81 million in civil fines after a probe by the U.S. Securities and Exchange Commission (SEC) found their employees used personal text messages for business purposes. The SEC said it “uncovered pervasive and longstanding uses of unapproved communication methods” at various levels that included supervisors and senior managers from at least 2019 or 2020. The firms also didn’t preserve most of those messages, violating securities laws.

Feb 8, 2024 | portfolio.bisanet.org | Leo Almazora |Patrick Donachie |Fatima Hussein |Robert Corsarie

Raymond James' new Paraplanning Services are designed to assist advisors in leveraging the firm’s goal planning and monitoring software tool to create detailed financial plans for clients. “Raymond James was founded on the belief that clients deserve advice that considers their entire financial picture, and that principle is still at our core today,” Frank McAleer, senior vice president of wealth planning at Raymond James, said.

Feb 8, 2024 | portfolio.bisanet.org | Courtney Degen |Patrick Donachie |Fatima Hussein |Robert Corsarie

U.S. Treasury Secretary Janet Yellen, testified before a Senate committee on Feb. 8, defending new guidance that eases the Financial Stability Oversight Council's (FSOC) ability to designate nonbank financial institutions as systemically important.

Feb 8, 2024 | portfolio.bisanet.org | Justin Baer |Patrick Donachie |Fatima Hussein |Robert Corsarie

Fidelity Investments announced the appointment of a new slate of executives to senior roles, including a new chief financial officer. The moves reflect CEO Abigail Johnson’s commitment to rotating members of her leadership team into new roles, exposing them to different parts of the company and bringing new perspectives to those assignments. All but one of Fidelity’s major businesses, and now many of its corporate functions, have welcomed new leaders since late 2022.