Advisor Business

Wealthfront, A Startup That Wants To Replace Financial Advisors, Raises $20 Million In A New Funding Round

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by agluck     March 20, 2013      0.0 (0) Wealthfront, a startup intent on replacing financial advisors with its wealth management software, just raised $20 million from some more Silicon Valley biggies, including Reid Hoffman, the co-founder and executive chairman of LinkedIn. That’s on top of the $10.5 million raised to start the company from venture capital investors including N

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CFP Board Hires New Lobbyist Who Formerly Served As Senior Counsel To House Financial Services Committee

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by agluck     March 18, 2013      0.0 (0) A former senior counsel to the House of Representatives Financial Services Committee has been named Director of Government Relations at the CFP Board of Standards. CFP Board hired Washington, D.C. attorney Todd L. Cranford for the newly created position, representing a clear effort by CFP Board to influence the political process sur

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Schwab's Forced Arbitration Clause: A Leader Among Fiduciaries Says Custodians Imposing Arbitration Triggers An Obligation Of Disclosure On RIAs

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by agluck     March 15, 2013      0.0 (0) Charles Schwab's brokerage agreement contains a clause forcing customers to arbitrate disputes, and some RIAs are expressing concern that using Schwab as a custodian and requiring them to accept the arbitration clause imposes disclosure responsibilities. After all, these clauses have for decades been considered a heavy-handed tactic imposed by Wal

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Financial Advisors Grow AUM At Record Pace In 2012

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by agluck     March 12, 2013      0.0 (0) Financial advisors increased assets under management to record levels in 2012, according to PriceMetrix, a practice management research firm for retail brokerages in the U.S. and Canada.

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TD Ameritrade Client Assets Surpass $500 Billion

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by agluck     March 11, 2013      0.0 (0) TD Ameritrade Holding Corporation today announced that total client assets topped $500 billion for the first time ever in Februrary. That's up 14% from a year earlier but it's still just a quarter of the $2 trillion in client assets held at Charles Schwab.

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