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Cybersecurity is a hot topic in the wealth management industry, but in all the conversation about major breaches and new security paradigms, one audience is usually left out: small broker-dealer firms and RIAs.

The ongoing coronavirus pandemic notwithstanding, FINRA continues to proceed at full speed when it comes to penalizing financial advisors for noncompliance with recordkeeping and supervision obligations. In particular, one recurring area where significant penalties can be imposed is with a financial advisor’s outside business activities (OBA).

Last week, the Treasury Department announced it was fining Morgan Stanley $60 million over mishandled data center decommissioning back in 2016. The agency said several Morgan Stanley hardware assets still contained customer data after these retired assets reached a recycling station.

Garrett Baldwin's Weekly Take on Cybersecurity in Wealth Management

A weekly update on cybersecurity trends in the wealth management space. We explore the client-adviser relationship over a cybersecurity breach.

At the conclusion of a recent interview, CNBC reporter Bob Pisani asked SEC Chairman Jay Clayton: “…is there anything out there that’s on your plate right now that is sort of front and foremost that we haven’t covered that you think we should be knowing about and that the financial advisors should be knowing about right now?”

Fifteen years ago an Old El Paso commercial about whether a family should eat hard or soft tacos became a lasting...

The 100,000th Certified Financial Planner has been named, and she’s a 31-year-old millennial woman from Bedminster, N.J. named Simone Lee—a second-generation...

As fintech continues to proliferate and transforms the wealth management landscape, advisors are engaged in not one, but multiple arms races.  The...

Financial markets have boomed to start 2024, and the wealthtech universe is growing apace.  This week brings a mixed bag of advisor...